6 Reasons Why Successful Entrepreneurs Survived Their First Year in Business

The call of being your own boss and taking your career into your own hands is a feeling that millions of people all around the world heed. They watch videos, buy books, listen to podcasts, and take courses so they can build their business and leave the 9-5 that traps so many people into a grid-like life. All that work, networking, research, and time often turns out to be nothing.

Those to dare to travel at their own pace soon find out that their life isn’t going to be sleeping in and working on the beach. Many people who try to walk the entrepreneurial road don’t make it. At least 90% of all people who try to be an entrepreneur give up within the first year. The long nights, loneliness, absolute sense of responsibility, and a paycheck that starts and ends with pennies; It’s all too much for most people to handle.

As a fellow entrepreneur, I can attest to the fact that many people give up and find regular jobs again. But I have also witnessed the entrepreneurs that stuck it out, and their hard work has been rewarded with esteem and a full bank account. It’s entirely possible if you know what to do. So what I want to do for all my readers is list and discuss how the successful 10% of entrepreneurs make it through their first year.

They take care of themselves

Every successful person, no matter what industry they’re in, eats well, sleeps regular hours, has a reasonable bedtime, and exercised until they have sweated through their clothing. They understand that neglecting their bodies’ needs will hinder them.

It may seem tempting to pull all-nighter during the week, especially if you are starting, and you’re in your first few months. But this is a habit you shouldn’t think of as a last resort. You need to take care of your body and mind. You cannot expect to yield quality results and ideas if you are sleep deprived, and your body feels terrible. Exercise is vital to your brain performance.

Studies show that those who exercise for only ten minutes a day think clearer and faster than those who don’t exercise at all. The worse you treat your body, the faster you will experience overwhelming levels of burnout and stress.

They develop their planning and scheduling skills

Success people know how to keep to a schedule. They regard the schedule as unchanging and absolute. They adhere to the thought that an appointment or deadline should only be pushed back as a last resort, not because they didn’t feel like doing work today, or they became sidetracked.

If you’re someone who is scatterbrained, can’t remember dates, The easiest way to start a schedule is to buy a large paper calendar and place it directly next to your work station. Not behind you or in another room. The calendar needs to be directly in your field of vision. Doing this will get you used to the fact that you must track your schedule now. There is no boss to inform you of meetings or deadlines.

You can also use your smartphone to set alerts and timers to keep you on track. And syncing your phone’s alarms with your laptop’s or tablet’s alarm can prevent you from missing alarm if you not on your phone.

They know their time is precious, and they use it wisely

Successful people know that they cannot get time back. Each minute that passes is a minute that can be utilized or wasted. And if they waste it, they know they can never get a refund on wasted time. The most valuable resource is the one you cannot get back.

There are only 24 hours in a day, and you’ll need 6-8 of them to sleep. Don’t waste time on social media, scrawling through youtube or Instagram. Don’t get lost on sites scrolling for advice for hours but never implementing. You need to prioritize work to be the #1 most important part of your life. Because of your entrepreneurial lifestyle, you will be forced to miss birthdays, vacations, baby showers, and night out with your friends.

They don’t feel shame in relying on their support systems

In the hustle/ entrepreneurial world, there seems to be some kind of ranking system where the more you suffer, the more dedicated you are. Those who try to do it entirely alone are often miserable and don’t get the feeling of joy they do at winning victories because they have no one to celebrate with.

The entire concept of the lone entrepreneur working lonely hours in their home is not as common as people may think. Bill Gates lived with his parents and used his parent’s positions as government contractors to practice on their computers. Other people who have their own businesses usually live with their parents for years until their incomes are stable and robust. Mentors are often sought after by new freelancers, so they can ask them questions and avoid bad decisions. If you are alone, you’re weaker than those with help from friends and family.

An effective support system, even if it’s only one person, will alleviate some of the stress for entrepreneurship. So be kind to the people in your life and search for someone who has been in your shoes and succeeded. Their love and wisdom will be your strength.

They hire someone when they need to

Successful entrepreneurs know they can’t do everything by themselves. They’ll be able to do everything when they’re in their first few months, and their business doesn’t have much in revenue or operations yet. But as their businesses grow, their expertise in specific areas will not match the level of knowledge their growing operations require. If you overburden yourself with too much to do and learn, you’ll burn yourself out, and the quality of work will decline. In turn, your new business will suffer, and most likely, it won’t recover. It would be best if you learned when to let go and give the responsibility to someone else.

And when you discover your limits, you’ll realize it’s time to hire some professional help.

By hiring someone to take over the departments of your business that you can no longer handle, you’ll free yourself from the stress and worry of wondering if you’re doing it the correct way. Many people outsource their accounting or social media marketing campaigns because it’s not worth the time it would take them to learn enough of the subject so they can save a few dollars.

They become content creators.

As you learn many lessons from your first year as an entrepreneur, you must make sure that what you learn doesn’t fade away. And the best way to know what we have learned is to teach others. Teaching as a form of learning is effective. And the best way to educate others without using too much of your time is with a blog or vlog. If you search for “blogs for new entrepreneurs” into google, you’ll find there are many blogs created by new entrepreneurs. They document their frustrations, fears, activities, methods for getting work done and fighting procrastination, and advise people who are thinking about becoming an entrepreneur. It also allows you to network with other people in the same industry. It also helps the writer reflect on their experiences and realize more lessons they didn’t before.

Whether it’s diary entries, personalized articles, 20-minute vlogs going over their process for work, or a series of webinars to teach an in-depth topic to their students, those who are successful never stop creating content. They don’t question if someone needs it, they create it and put it out on the internet.

It is a standard narrative that whatever you learn, it must be kept secret because it will help you get an edge against your competitors. But you cannot think that way. If you can create content that informs as well as inspires, you can help people fulfill their dreams and avoid terrible decisions.

In Conclusion

The life of an entrepreneur is far different from being an employee or even a manager. You control everything about your job. And the only boss you have are your clients that you must satisfy in order to stay in business. If you looked over this article and noticed that you haven’t started doing some of these things while you have a job, then you need to make them a habit now. Please don’t wait until you have the stress of a new 80 hour a week business to run to start developing good habits. Just remember that you are responsible for all of the work that you do, and there is no one to hold your hand or keep you accountable. But the euphoria of being your own boss and answering to no one will be so worth it.


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