● Dropped clients
Unfortunately, these things come with owning a business, but they don't have to hinder your success. You will face challenges; however, what matters is how you handle those obstacles. We've put together six techniques to help you overcome business hurdles.
1. Who, What, When, Where, How, and Why
Focus on the "why" because the others will resolve themselves once you can answer the "why". You need to be able to answer why you're starting a business: why would your product or service sell? Why are you spending so much time, money, and energy on it?
2. Moderating Optimism Compared To Reality
You must already be an optimistic person to even think about starting a business. One of your hurdles will be to acknowledge the world and perceptions outside your optimistic mindset. Staying positive about the future of your business is crucial. But always be realistic with yourself about your competition.
3. Loving Your Narrative
Loving your narrative can cloud your judgment and put you in a position to make irrational decisions. Why? Being an entrepreneur involves taking big chances and trusting in your dreams, so eliminate any self-mythologizing narrative when it's not profitable. You need to remember that your business is not targeted for you, it's for your customers. Therefore, if your customers have no interest in your idea, it will be hard to have a successful business.
If you're working a traditional job, continue working while you launch your business. That way, you can eliminate any fears of how your financial future will look. If your business produces positive results, you'll have the money to maintain your business if it doesn't have a booming start. Don't fool yourself, it takes most new businesses some time to get off the ground and start seeing real revenue.
Most entrepreneurs are faced with financial uncertainty. However, there are ways to overcome this stressful mindset. Along with continuing to work your traditional job, you also want to create an emergency fund for when times get difficult. Always have a back-up plan, and a back-up plan for your back-up plan.
5. Don't Sacrifice A Good Night's Sleep
Starting and managing a business can be time-consuming, and can involve late nights in your home office and early mornings running errands. Unfortunately, it's easy for business owners to put sleep on the back burner, even though you know that a well-rested brain is a functional brain.
Be sure to get your rest and plan to close shop at a certain time each evening. This way, you can learn to balance your work life and personal life before things get out of hand. Too much work with not enough rest can lead to health problems. Try being mindful.
6. Starting Your New Business, Overcoming Hurdles
One hurdle you may face may be starting your business and putting your money up. If you're having a hard time shelling out the cash or putting in the time for researching resources, then entrepreneurship may not be right for you. Being a business owner requires a lot of money, resources, and time. Be sure you're willing to put in the work and give it your all, or there's a good chance that your business could fail due to hurdles.
Whether you're a business owner or considering starting a business, Fundid is a free online community of women business owners helping one another grow, have conversations of support, and get swift access to resources. Join our community today to learn how to overcome your business hurdles.