Last updated on September 21st, 2023.
The hardest part of entrepreneurship is starting. There are many things to understand and many lessons to learn. You might wonder if there is any valuable information to consider as an entrepreneur starting.
Here are seven lessons for entrepreneurs just beginning their journey:
- Create Value Other People Are Willing To Pay For
- Don’t Try and Be Perfect From The Beginning
- Stay Focused On One Thing Until You Know It In and Out
- Persistence is Everything
- Be Excellent In Your Work
- Speed and Scale Come After Excellence
- Work On Yourself First, The Business Second
These will help young entrepreneurs succeed.
Read on to learn more about these lessons. The better prepared you are to take on the business world, the more successful you will be. Let’s get started!
Entrepreneurship is Hard, but You Can Do It
Starting anything by yourself is not easy, and entrepreneurship is no exception. It’s tricky to succeed as an entrepreneur, but there are stories that show it’s possible to come out on top! 90% of new billionaires in America are self-made.
Here are a few examples of successful entrepreneurs:
- Henry Ford
- Oprah Winfrey
- Bill Gates
These are just a few success stories.
If you can dream it, you can do it. With enough hard work, entrepreneurship can be a successful endeavor.
What's the Single Most Important Factor in Becoming an Entrepreneur?
The most valuable lesson in becoming an entrepreneur is to ensure you create value for other people. Have something people want, and everything else will come after that.
This lesson is just one of many. Let’s talk about a few more next.
7 Lessons for Entrepreneurs Just Starting Out
Let’s dive into seven lessons that entrepreneurs starting should be familiar with as they begin the process. Each has a value that can lead to success.
The more prepared you are for the business world, the better your chance at success. These lessons will make an excellent foundation for the future.
1 - Create Value Other People Are Willing To Pay For
The more critical factor in entrepreneurship is creating value people are willing to pay for in life. It makes little sense to form a company no one wants.
Here are a few examples of innovative, in-demand ideas:
- Cookie dough stores
Each had a demand and succeeded.
Whatever your business idea might be, ensure there is a demand. Otherwise, the pursuit could be a waste of your time.
2 - Don't Try and Be Perfect From The Beginning
Perfection will never happen in the beginning, so don’t try to obtain it. This action will waste precious time and money that could be spent on other items.
As your business grows, you’ll get better. Perfection will come – but not yet.
3 - Stay Focused On One Thing Until You Know It In and Out
Success comes easiest when you find one thing you’re good at. Once you have that item, practice it over and over and over again. Eventually, you will perfect it. Whether that’s ice cream flavors or stuffed animals, pick a singular item for success.
Many young companies fail because they attempt to do too many things at one time. Avoid becoming part of that statistic by narrowing your focus.
4 - Persistence is Everything
Persistence is vital. It will get tricky to push forward, but you have to do it. The light is at the end of the tunnel if you keep going.
Often it will seem easier to push everything to the side and start over. This technique won’t work. Persist, and the rest will follow.
5 - Be Excellent In Your Work
Are there other people that do what you do? Are they good? Or, are you the only one? No matter the answer, be excellent. Be the best at what you offer.
The more advanced you are, the more people will flock to you. Be excellent for success.
6 - Speed and Scale Come After Excellence
Speed and scale can only happen if they’re working on the foundations of an excellent business. Try to build your company before you attempt to scale it.
The more successful the company is, the easier it will be to grow. It’s critical not to rush into things before it’s time to happen. Speed and scale come after you’ve worked your company up.
7- Work On Yourself First, The Business Second
It’s impossible to succeed if you’re not in the best state. Work on yourself first, and business growth will follow.
- Keep up with your mental health
- Stay physically active
- Avoid overworking yourself
You are just as vital as every other component.
Start every day by eating a solid breakfast and taking time to do a small workout. The most successful people begin their day with their health in mind.
What's a Good Online Resource to Get Started as an Entrepreneur?
It’s helpful to have resources to turn to when getting started as an entrepreneur. What’s a good one you can get started with online?
We have a favorite. Read on to learn more about our top online resource selection for beginner entrepreneurs.
Encubate is an excellent resource for opening a business. It helps young entrepreneurs to develop skills and get everything organized and prepared for the future. It will help construct the foundations of a business.
There is a free trial on Encubate. Try out the service first, and if you like it, you can pay for an annual membership. It’s an excellent resource.
Final Thoughts on Starting Out as an Entrepreneur
As an entrepreneur just starting, it can be overwhelming to find a foothold in a big world. These lessons will help you establish yourself.
We hope this information was helpful! Take hold of this advice, and hopefully, it will help springboard you into a successful career as an entrepreneur. You can do this!
To help you on your entrepreneurial journey here’s an article on the traits successful entrepreneurs have in common.