While being an entrepreneur has many perks - like working where and when you want, doing what you love and managing your own opportunities - there’s no doubt it can stressful too.
One of the reasons it can be so difficult is because, as an entrepreneur, you have to wear many hats. You could be the CEO, creative director, HR department, marketing director and accountant for your business - and there are only so many hours in the day.
There’s no getting around it, every entrepreneur will struggle. There will be mistakes and missteps made along the way, but eventually you will learn the best way to manage your business. Fortunately, there have been many successful entrepreneurs who’ve made and overcome their own mistakes that we can learn from.
Here are 4 lessons from successful entrepreneurs we wanted to share with you to help you overcome challenges you may be experiencing today.
It’s Okay to Ask for Help
The hardest lesson Lululemon founder, Chip Wilson had to learn was letting go of the reigns when he first got into business. He felt that he needed to know it all and do it all. But after attending a business workshop, he realized it’s okay to let people help him.
No one knows everything about business. We all have our weaknesses, and that’s okay! Let others help you with the things that aren’t your strengths. Ultimately, your business will benefit from it.
Don’t Let Others Tell You What You Can and Cannot Do
Barbara Corcoran says her greatest lesson came from someone putting her down. Her first business partner was her boyfriend, and he told her that she would never succeed without him. He couldn’t have been more wrong! His comment motivated her to become the successful entrepreneur she is today.
As an entrepreneur, you will meet resistance and rejection along your journey to success. But if you truly believe in your business and what you’re doing, don’t let anyone tell you that you can’t succeed.
Choose Your Friends Wisely
Tim Ferriss, author of The 4-Hour Workweek, thinks your network is very important, and
not just because you need to have certain connections. He says he’s been told countless times that ‘you are the average of the 5 people you associate with most.’ This lesson makes him think twice before engaging with others, especially in business.
What do your friends say about you?
Keep Raising the Bar
Anurag Gupta manages Amazon Aurora and Amazon Redshift. He suggests always
raising standards for every person you hire. Because if employee performance is always getting better, your company will ultimately improve.
It’s easy to hire someone that is simply qualified for a vacant position. But when you compare them to your last hire, will they help advance your business, or will they keep it where it is?
You will never know what kind of roadblocks are on the path to success. But learn from these entrepreneurs’ lessons and you won’t be making someone else’s mistakes