TOP 5 SCENERIOS YOU CAN ENCOUNTER AS A FIRST TIME ENTREPRENEUR
As a first time entrepreneur or CEO, there’s going to be many different situations you can take and there’s going to be times you’ll be tempted to make decision, that’s going to be tough for you, so today, I’m going to be sharing with you some of the situation any entrepreneurs will face.
So the first one is very simple, every entrepreneurs that start a business typically you have somebody that’s working with you, that’s either a relative or a friend, so now when you work with a relative or a friend it comes first everything is exciting “oh my gosh” then all of a sudden the personalities can’t walk together in one of the scenarios you’re going to face, Is having to fire a friend or relative.
And it’s very hard to do that, for most, first time entrepreneurs because it’s friendship, but in reality when you running a business the priority of the business Is to stay in business, Even if it means having to fire a relative or best friend in the world, because if the business goes out of business everybody is affected.
The next on Is hitting a tipping point where you find out if you’re 100% in OR not, thus us very interesting because when you start a business and you’re like “oh my gosh, we’re going to go out there and we’re going to build the business, we’re going to start regional, then we’re going national then we’re going International and then global, well be so big and you think you’re fooling him, but there’s still a phase of all in you’ve going to face and when you get there.
That’s when, as hard as the beginning that anybody starts a business they didn’t really think about how tough this business is going to be, you typically at first think it’s a lot easier to what it’s really going to be like “all our dreams are going to become a reality”
Then you realize that real challenge of beginning an entrepreneur and in that moment, is what you’ll realize if you’re 100% in OR not.
Because it’s not going to be an easy moment, it’s going to be a very tough moment. Where almost everything you look doesn’t make sense nothing make sense, for you to continue on paper and logically, nothing makes sense, why you could make it or why you ought to continue but it’s in that moment where you find out it you’re a person that’s all in or not.
Everybody around realize that slowly and slowly you’re finding your way out of being an entrepreneur back to being an employer and you’ll know when you get in that moment, because in that moment, no one is going to know and that’s you.
The next thing is cutting down on time spent with old friends
So this one is tough because when you’re typically making the transition of an employee to one who wants to be an entrepreneur you still have a lot if friend that are, employees but you want to associate yourself with ah entrepreneurs because an entrepreneur is almost like going from babysitting someone’s baby to now that you have a baby, and when you have a baby you can’t go watch movies, you can’t go do a lot of things when you have a new born baby, because that new born baby need s to be fed diapers needs to be changed their crying and waking up 3-4 times through out the night and that’s going to last a year and a half 2 years that’s the startup phase.
So when you’re married with kids and you’re trying to hang out with friends that are single with 2 kids going to the night club, that’s going to class and then there’s guys going to say I thought we were friends, just like your buddies that face regular jobs and they’re going to say wait a minute we use to hang out together, it seems like everything about your life is not your business, what happens to thus guy, all you care about is money and now you’re water headed.
Now you know that in order to make the business work, for a period of time you gave to be all in and this means mostly likely you’re going to have to cut some of your hobbies, that you were doing before you won’t be able to do it right now because if you don’t stay focus on the business this thing is going to go out of business and you’ll find yourself on the side.
So the tipping point is going to be at one point, where you’re going to have to make a decision and say no to some of your friends that don’t understand what it is to be an entrepreneur.
So the next one is going to be strategic and it’s to having competitors who used to like you now hate you.
These are the competitors who were once supportive now becomes your enemies and they don’t like you anymore, they become haters, they start talking behind your backs.
So what does that really mean, this guy use to tell me, he’s supporting my decision why is he now upset with me.
Here’s why, the reality of it is, when he use to support you when you were small, he never thought you were going to get bigger, he never thought you were going to make it, because if he knew you were going to get bigger and make it and compete against him.
He would have never liked you in the first place and he would have never allowed you to compete with him, because that was never the intention.
The intention was you’re always going to stay small, and you’re never going to take a market share but the bigger you get and you take some maket shares from certain people, those competitors that were supportive are now officially haters of yours.