When we imagine the journey to becoming an entrepreneur, we often envision quitting our day jobs and starting a business. While this vision of entrepreneurship sounds good on paper; like most things in life, the pathway can be more winding and accidental.

In all actuality, successful entrepreneurs know all too well the challenges that come with creating a company. Here, some of them share the things they wish they’d done differently and share their wisdom with others.

Realize there is no “I” in team

As with any great venture, it is hard to become successful without the help of others. That’s why it’s important to build a support system around you and to turn to others for business advice and just general understanding.

Entrepreneur Craig Kanarick explains, “You have an ego and think you can solve problems on your own.” This is the famous roller coaster of entrepreneurship (or, as one entrepreneur put it to me, “riding a roller coaster after eating a burrito and drinking four beers”), and every single entrepreneur straps themselves in to ride it, whether they want to or not.”

Failing to be present

Starting a business can be overwhelming at times. After all, you are responsible for turning your dream into reality. That’s why it’s important to be present and not become overly focused on the future. If you get too ahead of yourself, you might overlook the details in front of you and risk not reaching your immediate goals. Entrepreneur Adii Pienaar made this mistake once upon a time.

“I was obsessed about always moving from point A to B to C, which meant I was never really present in any given moment. This also meant that the highs on the rollercoaster ride were fleeting, and the lows, always brutally around-the-corner,” explains Pienaar.

If you can learn how to enjoy the journey, you’ll start to appreciate small victories much more.

Prepare for challenges and learn how to overcome them

Most of the time, success does not come easy. There are challenges and hurdles that you will have to overcome in order to get to the prize. As Toronto-based technology and media venture capitalist, G. Scott Paterson has learned, the biggest challenges to starting and growing a business include: having a strong plan and vision, having sufficient capital and cash flow, creating a great team, managing your time efficiently, and not getting discouraged when your plan veers off course.

The number one lesson?

Starting a business is not for everyone. It takes drive, determination, long hours, and sacrifice, among other things. However, the secret to success starts with showing up, giving it your all, and doing what it takes to make your business thrive.

Published: 2020-05-18 15:29:01