In the beginning, as a businessman, you may see everything as simple as building a great product, market them and see people come to be attracted and willing to spend their money on it. Afterward, you can hire people to handle the menial tasks and you’ll take the CEO role. In the end, you’ll also delegate that position as well and live on the beach relax and peacefully.
The fact is, those who have spent more than 3 months trying to set up a business know that story isn’t the common events for a startup. In reality, developing business will most likely bring you lots of surprising twists where your product fails, folks quit and you burn out.
To help you decrease the impact of those bumps, there are important lessons from the most successful businessman who has to learn it the hard way, which maybe you don’t have to.
- The first idea generally couldn’t be your best one
When you think you are ready to launch your product, it’s actually similar to a newborn baby. It’s still fragile, delicate and even ugly. The worst case is that you don’t receive any feedback. It is the most common case when an ambitious entrepreneur decides to launch the product they love and they have no response at all.
The market doesn’t wish to outright you and tell that the product is terrible. They won’t interact with the content; they have no interest to click on the CTAs and quickly unsubscribe. When they say nothing, they basically let you know that your product is terrible.
But, that’s really okay. Now, you should turn those result into a profitable idea. Do everything that you could to determine what your market really need and understand it completely. Since your first idea likely won’t be your best idea, it’s best not to be attached to this idea only. Focus on the specific metrics that really matter. And test it all before and during the building process.
- Waiting for the right one is better than recklessly hire the wrong person
It would just take a few times before you realize that hiring people because you like them or because they are willing for a low salary is a really bad idea. It is many times better to hire someone who is good at their job even if you have to pay them a bit more. On the long terms, they will actually save you money.
You need to take your time when you are trying to find your employee. On the initial stages, only hire when you have to. But, if it is best to delegate some tasks to someone else, so you can focus on money-generating activities, then you should do it.
- Your mental health will directly affect the business’s fate
According to the statistic, people who choose to be entrepreneurs will be twice likely to have depression. That’s how the business traps you, the more you struggle then the more your business will be struggling.
But, you have to keep in your mind that your physical and mental health is everything you should not sacrifice it. Be a businessman that focus on sustainability and longevity which means you should also pay attention to your mental and physical health. Eat something good, take exercises and take time for your personal life.