4 Business Challenges That Only Entrepreneurs Understand

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You’re a visionary. You have a dream or idea that no one else can see yet. You know you’re on a path to revolutionize a product, service or market endeavor. You’re an entrepreneur. What separates you from other professionals is your unique ability to see the long-term goal and be willing to set a daily plan of attack to get there. While your efforts may often be recognized, it can sometimes be harder for you to connect with other business professionals, because well, they just aren’t entrepreneurs like you and there are some aspects of your business that no one else can really understand. It’s okay EO Vancouver Island understands entrepreneurs because it was created by entrepreneurs. Here are four challenges we know you are probably facing right now.

Risky Business

Whether you’re investing time, money or reputation, as an entrepreneur, you’re taking on more risk than anyone. You are focused on the prize ahead, but in the back of your mind, you are continually considering the possibility of failure. Remember, it’s okay to remind yourself of the risk potential, but don’t dwell on it. Use it to make meaningful and relevant business decisions, but don’t overwhelm yourself with worrying about problems you don’t actually have. Stay focused on your short, mid and long-term goals and be ready to make shifts and changes along the way to steer clear of failure causing pitfalls.

You Don’t Know What You Don’t Know

You may be an expert at one aspect of your business or big idea, but you can easily be overwhelmed with all the other tasks and management that may have you steering your ‘ship’ from outside your comfort zone. You may realize there is no blueprint for what you’re trying to accomplish, meaning you’re on your own to figure out the best strategy. You may be a top-notch salesman of your product or service, but maybe you find yourself second guessing your strategy when it comes to managing human resources, payroll taxes or IT. The good news is you don’t have to be a master at everything. Instead, master what you know and surround yourself with mentors, business partners and other entrepreneurs to help you along the way.

Lonely at the Helm

You can find yourself feeling lonely at times, not being able to identify with others in your industry or friends and family whose work experiences don’t stretch beyond the nine to five. You’re not a mule, you’re a racehorse. Find other racehorses by joining an entrepreneurial networking group like EO Vancouver Island and be paired up with one of our mentors. You’re not alone and surrounding yourself with others facing similar challenges and pitfalls will help you perfect your business strategy and build your confidence.

Never Clocking Out

As an entrepreneur, you’re constantly thinking about your business, how to make it better, where to find your next client and worrying about what you haven’t thought of yet. This sometimes means, you never really clock out. In your free time, your weekends and even in your sleep, you’re consumed with mastering your business. While the drive is crucial to success, not setting aside time to decompress can eventually lead to burnout. Remember, you have to take care of yourself, mind and health. If you aren’t operating with proper balance, you’re not able to bring your ‘whole’ self to work. The most important step you should take for your business is making sure you’re taking care of its owner.

You are a pioneer and are on track to do great things. Keep it up and keep going. Remember that preserving your motivation, surrounding yourself with like-minded professionals, maintaining your vision and staying the course will ultimately lead you to achieve your goals. Don’t do it alone! Become a member of EO Vancouver Island and join other local entrepreneurs as they too overcome their challenges.

 

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