3 Tips For Common Challenges For Entrepreneurs

You've made the decision to start your own business. Good for you! You're already on your way to becoming a successful entrepreneur. Now what?

Running your own company can be the most exciting and satisfying thing you've ever done--you're in total control of your career, while providing a unique product or service to your satisfied customers.

Part of every business, however, involves making difficult decisions. No matter how much your company grows, your strategic planning will mean having to change, drop, or add resources. But as a start-up, your decisions are among the most critical you will ever make.

Here are three entrepreneur tips for the tough--but exciting--choices ahead:

1. When to leave your job: You'd love to leave the corporate world behind, but the reality is that you still need the pay and benefits to support your dream. Chris Guillebeau, a young entrepreneur and author of "The $100 Start-up", suggests going part-time rather than making a full leap into your new business. Other considerations before you cut loose: Are you ready to be flat broke for a couple of years? Will your family understand that work comes before play? 
2. Who to hire: At some point early in your new endeavor, you'll need someone to help, so you can focus on the tasks that only you know how to do. It can be tempting to take on a family member or a friend. Think long and hard, before you do. Remember that each team member must have skills that can contribute to your success. You also must have people who respect you and support the culture you're building.
3. How to handle change: While you have a solid business plan, you'll be making adjustments to stay within the budget, build customer loyalty, or take on new projects. Change involves risk, so you need to learn how much risk you can afford, financially and emotionally. You also need to motivate others to embrace change and continue to move forward.
   
   

You will learn many lessons as an entrepreneur, including how to make quick decisions. Knowing that you have a vision and priorities will help guide your choices, and lead to success. Ready to launch? Apply to our startup pre-accelerator to get your dream business rolling this year!