Starting a business can be exhilarating, but let’s be honest, your first year of business is not likely to be all sunshine and unicorns. Being in business can be stressful, and it’s not for everyone. Even for the most organised person, the first year of business is likely to be a rollercoaster of highs and lows because no matter how well you plan for it, the life of a business owner is nothing if not unpredictable. So how can you ensure that you are one of the few who survive their first year in business? Here are our tips:
5 Ways to Survive Your First Year in Business
- Surround Yourself with the Right People – Other business owners are a great source of inspiration and a wealth of knowledge for newcomers. Surround yourself with successful and driven people who understand where you’re at, nurture your ambition, and can support you through the difficult times.
- Listen Carefully – The first year of business is all about finding your feet in the business world. Take every opportunity to listen to what people are saying to you. What do your customers love about your business? What do they hate? What are other business owners saying about the industry? Always keep your ears open, you never know when you’ll hear something valuable.
- Be Excited – Never be afraid to show your enthusiasm for your business. All too often business owners trade passion for professionalism. If owning a business is your dream then let the excitement shine through. If you’re passionate about your business other people will be too.
Pace Yourself – It’s tempting to throw yourself completely into your new business. You’re excited about the future and ready to make your dream a reality, but remember: business is a long-term game and if you burn yourself out in the first year, you’ll have nothing left for year 2, let alone year 10.
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