Starting a business is very much like learning to walk. It’s hard. You’ll stumble multiple times, but once you gain balance, you’ll be able to tread the path. The first year in business is actually the phase in which you are likely to commit a number of blunders despite the fact that you have a seemingly flawless plan. From registering your company, even in economically stable places like Hong Kong, to conceptualising your first advertisement, some petty mistakes and trials and errors will surely surface.
But what are the other things that make your maiden year truly the most difficult?
No Momentum Buildup
When you’re trying to build a sand castle, you know how demanding it can beto make the structure compact. The castle always falls apart if there’s not enough foundation. It is way too similar with business. No matter how good your idea is, it will easily fall apart when the foundation, which is your confidence, is not enough. Confidence is the precedent of all the working momentum in business.
You Give All and Receive Fall
The first year of business requires your100%. But sometimes what your effort will give you in return is less than 10%.That can be so discouraging. If you ruminate on this fall, you’re going to doubt yourself, which in turn will affect your confidence and provide no momentum that is needed to run your company.
Transition Seems a Lot of Ambiguity
You’ll understand how hard it is to be an entrepreneur if you’re transitioning from being a regular day job worker. The changes involved may disorient you. For one, you’ll be amazed by the thought that you’re your own boss, but eventually, that thought will sour as you realise that being the boss has a lot of responsibilities.
People Around Are Discouraging
Your personal doubts may be tolerable, but what naysayers outside your business say can totally crush you. If people aren’t thinking that you’re a borderline genius with your ideas, they probably think you have gone crazy. Eliminate those personal doubts; once you succeed with it, you’ll be amazed by how others’ adverse remarks won’t affect you.
Clichéd as it may sound, the beginning is always the hardest. But don’t let your inhibitions prevent you from registering your business, reviving a shelf company, offering that first sale, or planning that IPO.