You know that feeling you get when you just know you have to take a scary leap or bite the bullet on a big decision? Yeah, that’s what I felt when I quit my successful corporate job to buy my first business. Being an entrepreneur and owning something of my own was always meant for me so I had to make the jump.
While many business owners will shine a light on the most exciting aspects of entrepreneurship, I’m here to tell you, it isn’t all rainbows and butterflies or money signs and buttoned-up blazers. When you decide to start your first business, you’ll learn so much about your own character, your true work-ethic, and the biggest challenge you’ll ever meet: YOURSELF!
Here are 3 lessons I learned when I started my first business.
You Are Your Most Important Investment
When I was ready to quit my job and buy my first business, a grooming shop in Arizona, I knew I was going to invest my entire life savings into it. After graduating from college, I accumulated debt, and spending all of my money on a business with an unpredictable future was a huge risk.
My vision for this business was clear and I knew that I had what it took to make it worth the money spent. I remember asking my dad for the last chunk of money needed to actually seal the deal and finalize my business purchase.
Within a couple of years my blood, sweat, tears, and hard work allowed me to repay my dad, pay off my student loans, and live comfortably as a business owner.
I learned that if you want something and you know you’ll be successful, make the investment and your actions will earn return.
You Can’t Give Failure Any Thought
People ask me all the time “weren’t you scared to fail?” or “did you plan for possible failure?” And I’ll be honest, I never gave failure any thought.
It took so much for me to start my first business. I invested everything, people invested their money and time in my business so
giving failure consideration would be a giant slap in the face to me and the people who helped me.
It’s common for people to create Plan Bs and an escape plan when starting their first business but I’m telling you, you’re cheating yourself if you’re thinking of failure. If you know you were called to do something and you have what it takes to be successful, you must know that you will succeed.
You Are Your Biggest Challenge & Competition
When I started my first business, I knew there would be challenges, hurdles, and roadblocks around every corner. I’d never owned a business, I’d never even worked in the pet industry, I’d never groomed a dog in my life, so I expected many challenging times.
I had to analyze and understand who my competition was as an Arizona pet grooming shop. My business was up against big corporate chains, other local groomers, and mobile shops, I knew it would take serious strategy to stand out and be the peoples’ choice.
After experiencing everything under the sun in my first business, like challenges and competition, I learned that the biggest challenge and competition is me.
When you decide to start your business, you’ll be your biggest challenge and competition. In order to succeed, you’ll need to think, plan, work, manage, and dream bigger than your challenges and oppositions.
The moment you give up, it won’t matter what work you’ve done for your company or who your competitors are, your business will fail. You are the determining factor for your business’ success.
My First Business Allowed Me to Make Waves
Because I decided to leave the comfort and good money of a corporate sales job to start something of my own, I’m a first-generation entrepreneur. Learning every hard lesson about business allowed me to create more success by becoming a thought leader in my industry.
Entrepreneurship isn’t all good days, there are experiences you’ll face that test your confidence, your strength, and determination but you must be stronger than any obstacle you face.
What’s holding you back from starting your first business? I’m dying to know! DM me on Instagram!
With Love, Liz
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