The 5 Most Important Things I’ve Learned as an Entrepreneur
Posted on July 21, 2016
Entrepreneurship can definitely be a “learn-as-you-go” career path. I’ve made my fair share of mistakes, but I’ve also succeeded in huge ways – and I’ve learned a lot just from experience. These are a few of the most important things that I have learned as an entrepreneur:
- Money doesn’t make it easy. In fact, in many ways the more money you make the more you (usually) have to pay out, and the more risks you normally take. Money can make things very complicated. When you have money in the bank you feel like you have more to lose.
- The focus is on your paycheck – not always your passion. When I started Intern Queen Inc., I thought I could help students with their resumes and emails every day. Not true. If I did that all day I’d never make any money. I learned very quickly that time is valuable and I had to spend most of my time on keeping our revenue stream healthy.
- Run away from stress. I tell this story in my books All Work, No Pay and Welcome to the Real World, about how my dad looked over my list of bills and he circled them and he wrote the words STRESS. He said you want to avoid stress as much as possible. When I make financial decisions or decisions on whether or not we should take on certain clients, I keep this in mind. I try to turn away situations that could be more stressful than they are worth.
- You can’t do everything; focus on priorities. I still teach myself this every day. I used to think I could do everything all the time. I can’t. I try to focus on my 3-5 main priorities for the day and block out time to do them. Anything else may or may not get done.
- I will always get rejected. I thought that once I got “successful” I wouldn’t get rejected. Not true. I get rejected everyday, but I always go out and find the YES.