There are three words that, when said together, can simultaneously bring you feelings of both joy and pride and of fear and terror!
Those words are, “I’m an entrepreneur.”
When you ‘run your own show,’ some days are exhilarating while other days are terrifying. It can make you feel in total control of your choices and at the same time out of control of your life. Today can feel great, yet tomorrow can feel bleak. It’s one of the most fantastic and confusing roller coasters you can ride.
That’s why being an entrepreneur is not for the faint of heart, but for the right person, it can be a perfect fit.
There are more ways to be an entrepreneur than ever before; you can have a side hustle, be an independent contractor, a freelancer or own your own business among other things. But if you enjoy doing something, you do that something well, and there are people who are willing to pay you for it, entrepreneurship can be a rewarding and lucrative option.
From interviewing almost 300 entrepreneurs from all walks of life on my Work From Your Happy Place podcast, I have recognized some common challenges even some of the most successful entrepreneurs have had.
Those challenges take the form of making the initial leap to getting the results you want, managing your (up and down) cash flow, time management without someone else telling you what to do, the FOMO feeling after ‘abandoning’ your old job or career that keeps tapping you on the shoulder, choices of whether to hire or not hire someone and how to market yourself and your business with so many options from which to choose. For the first time, you, and only you, are the person in charge of making all of these decisions.
That’s why there are so many places you can read about ‘how-tos’ for being an entrepreneur. But there are also some mindset shifts that are a must if you want to be a successful one.
If you keep these four shifts front and center, leading with them every day, they will definitely help you to not only find success, but sustainability as an entrepreneur. If you are new to or thinking about making the leap, these are things you need to know. If you are an entrepreneur already, these things will help you to get better.
First, no matter what you sell, you are in the people business.
I first worked for myself when I was 12 years old. I had a paper route. It was my very first business and I took it very seriously. (By the way, I had to petition to get it because there were only paper-boys at the time!) I was given a route of existing subscribers and I decided that my focus was going to be getting to know each customer personally and providing excellent customer service. If I did those two things well, customers would keep their subscriptions and it would earn me higher tips.
It not only worked, but a third benefit came from it; it allowed me to ask for, and get, referrals. That’s how my business grew. No matter what product or service you offer, never forget that you are in the people business.
Make a habit of having more conversations. Don’t jump in and just try to sell. Right from the start, go into each day with an intention of building relationships. Don’t just post on social media and check it off the list for the day; interact! Take a few minutes and look at what other people are posting and make a comment or join the conversation. It’s a great way to network.
Second, keep it simple from the start.
When you first start out, one of the things that can be so overwhelming is thinking about what you “should” do. Someone might tell you you should have a blog, newsletter, Instagram account, Facebook page, have a podcast, get your profile up to date on LinkedIn and make sure you're jumping right into Clubhouse (even though you have no idea what that is!).
Don’t feel like you have to do everything that other people are doing. Find what you enjoy and what you do well, and then figure out where people who would pay you for it hang out; that’s where you start. If you are familiar with a particular social media channel, then go there first. Did you just read an article about Google Ads and you totally get it and are excited about applying that, then go do that. Do you hang out on Quora in your spare time and have great conversations? Then start showing up there consistently because it can quickly get you and your knowledge in front of an audience who is looking for it.
There are so many places on the internet to jump into conversations (or start them!) and begin networking and sharing your value immediately. Pick one and start. All of these things are tools, the key is to pick one and show-up consistently. Continue to learn about what’s out there, but be careful of getting to the point where you are so overwhelmed with what you “could” do that you are not putting yourself out there consistently.
Third, understand that you are not actually alone in this.
Know when to outsource or ask for help. Be honest with yourself. When you take the controls, you will learn quickly what your strengths and weaknesses are. That’s great to know! At some point, you’re going to need other peoples’ help, we all do.
You’ll learn that trying to do it all on your own can be a waste of your time, energy, and money. Build relationships with potential collaborators along the way, not just potential clients.
One important thing to remember is that YOU should always be doing the things that YOU do best. No one else can connect with your clients the way you do, so that is where your best efforts need to be. Hire people to do other tasks that are not about direct contact with your client. What is ‘busy work’ that can easily be done by someone else? That is a great place to hire someone when your time becomes tight.
Also, you don’t need to hire someone full-time. If your budget allows, that might be something to consider. However, you can hire people part-time or as needed. Think about students who might get credit or experience for helping you. Most schools have a co-op program from which you can interview.
Fourth, you are your actual commodity...take care of yourself.
It’s easy to get sucked into doing everything when you are the only person doing everything! Remind yourself each day that a little self-care goes a long way. It’s just like charging your cell phone - if the battery has 5% left and you don’t plug it in, it’s not going to work when you need it. You are no different than that phone.
Make sure you are getting enough sleep and schedule moments to just reset within your day. Put actual times on your calendar to get up and step away, even if it’s just for 10 minutes. Giving yourself permission to chill out and take a short walk can work wonders for you. A bonus to this is that you might find that those are the times when your best ideas and answers come to you!
Being an entrepreneur is more than just picking a product line and advertising it. When you work for yourself, YOU are what you are selling. Keeping these four approaches in mind every day will help you to be around for the long-haul.
In my next article, I am going to share what I’ve learned about why it can be so hard to be self-employed, what many self-employed people struggle with, and how to make being your own boss work for you.