ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

16 Things No One Tells You About Starting a Business

Updated on May 23, 2019
FelishiyaPS profile image

Prachi has been working as a freelance writer since 2012. When not writing, she helps people with web designing and development.

Source

Building a successful business empire is a dream of every entrepreneur, already aware of the fact that how much efforts it takes and how many hardships they have to face. They are ready to challenge themselves in every situation.

Despite knowing this, there are always going to some facts and realities that you become aware only when your feet get wet. To summarise the possible hurdles that an entrepreneur may face, here are few guidelines advised by the successful entrepreneurs:

1. Highs and Lows are Huge and Unexpected

Highs and Lows are Huge and Unexpected
Highs and Lows are Huge and Unexpected | Source

It is nothing less than riding a roller coaster to build a successful startup, which doesn’t shut down. You may face happiness like euphoria at one time and extreme lows like nightmares at other time. It’ll give you sleepless nights. But the best way is to celebrate every small victory, doesn’t matter how small it is.

2. Networks are Crucial

Networks are Crucial
Networks are Crucial | Source

Networking is the soul of every successful business whether it is a tech giant Microsoft or fashion retailer Inditex. The role of networking is huge in bringing success to the brand. Working as a solo professional won’t give you much credibility, doesn’t matter how much efforts you put in. Find potential clients and business gurus. Surround yourself with like-minded people.

3. Get ready to accept isolation

Get ready to accept isolation
Get ready to accept isolation | Source

Hardly anyone will ever tell you how much loneliness you may get surrounded on running a business alone. There will be plenty of incidents when you’ll have to deal with the crisis all by yourself. To accelerate business growth and reduce the burden, it is better to get assistance. Having the feeling of togetherness while dealing with the hurdles give the courage to look at the positive side of the problems.

4. Mentorship is important

Mentorship is important
Mentorship is important | Source

Reading other entrepreneurs’ stories about how they tackled problems and struggled to reach the top makes us feel like we know a lot of about entrepreneurial mindset. This makes us confidence enough to start a new business venture since we understand we know what problems may occur and how to deal with them. But this is not the case. Reality is far away from this misunderstood truth.

If you step ahead with this mindset, you’ll fail and might drop your idea of being an entrepreneur. Hence said, prevention is better than cure. Get the help of business mentors. They won’t only tell you how to begin with the startup, but will also support you in your journey. Many entrepreneurs complain about how they missed the right opportunity to build a better idea because they had no one to mentor them.

5. There can never be a pre-planned Path

There can never be a pre-planned Path
There can never be a pre-planned Path | Source

Saying, “I have a set plan and I will follow it to build a successful startup” is just a myth. Building a set of pre-planned strategies is a waste of time. It is better to create a firm idea and then, work on it step by step crossing every hurdle and then, planning on the basis of present achievements and failures.

6. 4-Hour Work Week is a Myth

4-Hour Work Week is a Myth
4-Hour Work Week is a Myth

For aspiring entrepreneurs, tighten your belt to spent more than 100 hours a week at least for a year or two till you get hold of your ground. No one is ever going to say it in your face about the time investment that you need to do while setting up your business. Initially, go with investing all your potential time in your business and then, reduce it, gradually, as you progress on your path. It is fruitful in the long run.

7. Everyone has Super Dumb Advice for You

Everyone has Super Dumb Advice for You
Everyone has Super Dumb Advice for You | Source

It is not always dumb, but I said so because most of the time it comes from people who have never been in your situation and never want to be. Because they are stuck with the corporate 9 to 5 jobs. People will have lots of unsolicited advice for you, heed them all with a smile but never follow. Follow what your mind asks you to.

8. Overnight Success comes after lots of Overnight Failures

Overnight Success comes after lots of Overnight Failures
Overnight Success comes after lots of Overnight Failures

Don’t get lured by how people achieved early success in their business and are earning well so soon. The early success is nothing but a stroke of temporary luck. Even most of the overnight successes are the results of an innumerable number of failures in the past. If you are one of these people and are enjoying immense success, then have patience and stay disciplined. Success is a place of euphoria it makes you forget your negatives and raise your ego. Never let that happen to you. Most of the successful entrepreneurs are paranoid and never fully trust their own work.

9. Business Consultants are Actually Helpful

Business Consultants are Actually Helpful
Business Consultants are Actually Helpful | Source

I have come across many people who consider business consultants to be scam and greedy. But in reality, they are very helpful in easing your way during the financial problems. They are aware of every business aspect and can give you better strategies to leverage your business reputation in the marketplace.

10. Everything is Unpredictable

Everything is Unpredictable
Everything is Unpredictable | Source

If you plan to start a tech-based startup, you’d look up to the stories of other tech entrepreneurs. It is reasonable to assume that you may face a similar experience as theirs because it seems logical and feasible. Also, they give you a proposed business plan that matches their business journey. Remember it’s their story, their hurdles, and their journey. It can never be yours, well not exactly in the same way. No matter how much you read this stuff, the real path becomes clear only when you travel it by yourself.

11. Partnerships are not that bad

Partnerships are not that bad
Partnerships are not that bad | Source

Building a business through a partnership is challenging, yet they can be rewarding at times. It can be a game-changer and can offer you plenty of big opportunities. Certainly, it lowers down your burden and gives you a better vision for your dreams. Before all this, make sure to consult a business advisor and establish legal terms on partnerships.

12. Meet like-minded entrepreneurs

Meet like-minded entrepreneurs
Meet like-minded entrepreneurs | Source

Instead of merely reading their stories about success and failures. It is, indeed, better to meet like-minded entrepreneurs face-to-face. Never lose an event or a conference where you have the golden chance to meet these people. As you must have noticed, how successful entrepreneurs readily discuss their journey, with great pride, with the aspiring novice entrepreneurs. This way you have better chances of accelerating your business growth.

13. Having a Business Idea is not Enough

Having a Business Idea is not Enough
Having a Business Idea is not Enough | Source

Running a business is much more than generating a billion dollar idea. It feels as if you own the money and just need to grab it. Get over with it, that’s not going to happen, at least not with this mindset. There are huge chances that most of the people have already tried it and miserably failed in it. The thing which makes difference is your team, planning and thorough research to give a more practical shape to your idea.

14. Be ready for Sacrifices

Be ready for Sacrifices
Be ready for Sacrifices | Source

An idea alone is a worthless commodity. For it to work, you need to give it lots of attention and thus, decline your involvement in other activities. In short, be ready to do some sacrifices to achieve the biggest dream of your life. Successful entrepreneurs such as Warren Buffet, once said that if you really want to be successful, then you must Sacrifice everything that interferes in your path. For example, hanging out with friends, having personal time with some alcoholic drinks or surfing the Internet or social media for leisure purposes. These are some examples that may eat up your valuable time without giving you much in return.

15. Capital Infusion is a thing to be Prepared for

Capital Infusion is a thing to be Prepared for
Capital Infusion is a thing to be Prepared for | Source

There are high chances that you may fall short of internal resources and require investment from other profitable sectors. Be prepared for that as many companies do face this situation. Investment is a great opportunity to build your business, but stay conscious to find the right investors.

16. Family is Everything

Family is Everything
Family is Everything | Source

Entrepreneurship demands time and lots of dedication. Still, always remember to put your family first. Never lose them, they are the most important part of your life. Steve Jobs, one of the greatest entrepreneurs in history, had always talked about the importance of family above all.

Finally...

These are a few points that you must know before starting a startup business. The entrepreneurial journey is full of hardships, but is fruitful too, if done with an extreme level of dedication and perseverance. Be ready to live out of your comfort zone. All the Best!

Comments

    0 of 8192 characters used
    Post Comment
    • businessadvices profile image

      shames patel 

      5 weeks ago from Selangor

      Informative article to start a new business. it's really useful.

    • FelishiyaPS profile imageAUTHOR

      Prachi Sharma 

      2 months ago from India

      Hi safartienne, I think you must consider using something else in place of your phone number. A website would be better. Just a suggestion!

    • profile image

      safarietienne 

      2 months ago

      im a markerter i have a business that would like to descuss with people more detail this is my contatact +256755510424

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)