Why New Entrepreneurs Shouldn’t Take Advice Too Seriously by Forbes – Entrepreneurs

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One of the most thrilling elements of being an entrepreneur is that you get to make up your own rules as you go along.

This concept was incredibly empowering to me nearly eight years ago when my sister and I began our company in Beverly Hills.  Growing up, I would always question the status quo: I would (respectfully) question the authority figures in my life and ask why particular rules were in place.

My rebellious nature came in handy when I was faced with well-meaning leaders who gave me advice that just didn’t jibe with the way I live life and the way I wanted to do business. Eight years later, with a thriving business under my belt, I am happy to have been the guinea pig so young entrepreneurs can feel empowered to create their own rules along the way.

Here are three pieces of advice I got early on that I’m glad I didn’t take too seriously.

1. You need to work 24/7.

When I started my business, I would go to different panels and seminars that all shouted a similar motto at me: When you are an entrepreneur, you need to work 24/7.

I have always esteemed balance as a core value in my life. I adore brunches with my girlfriends, going to events in the city, doing lots of self-care and having total relaxation and unplugged leisure time.

The 24/7 wired entrepreneur vibe never sat well with me. The people giving this advice seemed erratic, stressed and anxious — not exactly role models for what I wanted to be as a thriving business owner.

So, just like I always yearned to do as a young woman, my partner and I made our own rules.

My sister (and co-founder) and I set our weekly regular schedule: We would work Monday through Friday from 10 a.m. to 6 p.m.  It didn’t matter what our workload was; as long as there wasn’t a major “bomb” going off, we would strictly keep our hours. While it was tough to stop working when there was so much to do, we understood that we couldn’t possibly complete all of our tasks in one day. We repeated the mantra “Rome wasn’t built in a day” to alleviate the anxiety of trying to create a multimillion-dollar company in a single day. (I’ve learned that it takes a few years).

In the beginning, as we were working with a smaller client list, my non-entrepreneur friends didn’t understand why I had such a set schedule Monday through Friday, while my entrepreneur friends would look at me quizzically when I told them that I stopped working at 6 p.m. on the dot. There will be well-meaning friends or fellow entrepreneurs in your life who simply won’t understand the way you want to do things, and that is OK.

2. Quit your job and dedicate your whole life to your business.

Many entrepreneurs (myself included) unknowingly subscribe to Newton’s first law of motion: An object in motion stays in motion, and an object at rest stays at rest. The busier I am, the more I will accomplish; I work well when I literally do not have the time to procrastinate. Entrepreneurs tend to share this characteristic. If they do not feel a little bit of pressure, they will have lofty ideas and big dreams with no direction.

When you are beginning your business, it is okay if you are busy; in fact, you will work better and harder if you are busy. Unless you are in the Silicon Valley startup world where investors are throwing millions at any company that claims to be “the Uber of x,” you will need to have a survival job or seed funding that you have either saved or are making while you go through the inevitable growing pains of a new business. There no shame in securing a “survival job.” I would encourage you to have a part-time job that isn’t too labor-intensive so your days have structure, a cushion of incoming funds not solely dependent on your new business and, ultimately, order for your daily schedule so you value the time you get to work on your new business.

As a wise person once said, “If you want something done, ask a busy person.” If you want a thriving business, get busy.

3. Work from home to keep your overhead low.

When my sister and I were starting our business almost eight years ago, it was before the co-working craze disrupted the startup industry, and as two young women, we were forced to be creative with where we would plant ourselves for our first few weeks of running our business. While it was exciting to work in different hotel’s lobby or poolside every day, we realized by week two that there had to be a better way. Our business is all about client interfacing with in-person meetings and communication, and we knew that we needed to get a private office, and quickly. We ended up finding an office in Beverly Hills, and the rest is history.

Prioritizing your initial monthly business expenses is key, but I would highly recommend getting an office or becoming a member of a co-working space. I consider myself the ultimate self-starter, and even for me, on days when I am traveling or have to work from my home, it is hard for me to stay fully on task. When you have a physical location for work, you will find that you will get more accomplished, feel more inspired to be on task and truly be in full-on work mode.

The beauty of being an entrepreneur is that you get to create your life. While listening to the advice of successful business owners who have come before you is a fantastic way to mitigate unnecessary struggle, it is important to remember that you are an entrepreneur because you have always questioned well-meaning advice — even the advice in this article.

June 6, 2019 at 08:03AM
https://www.forbes.com/sites/forbeslacouncil/2019/06/06/why-new-entrepreneurs-shouldnt-take-advice-too-seriously/
Forbes – Entrepreneurs
http://www.forbes.com/entrepreneurs/
http://bit.ly/2CMy7Yu