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The Scary Realities of Entrepreneurship—And How to Deal with Them

Raffy Wolfe Store Owners Leave a Comment

The world of entrepreneurship is filled with risks, financial instability, uncertainties, and stiff competition. These are some of the causes leading to the result of recent studies which showed that almost 80% of entrepreneurs suffer from mental health issues. This number is equivalent to 400 million and it is twice as much compared to the 40% who are non-entrepreneurs.

This highlights the importance of talking about the mental and emotional chaos people experience when entering entrepreneurship. Below, we’ll discuss some of these mental challenges along with some tips on how to deal with them.

A new business is full of uncertainties

Launching a new business and exposing your work to the world is scary as hell. Knowing how much time and effort it took to build your brand, find a product, plan about packaging, shipping strategy, and developing the look of your store, there will be extreme pressure knowing that despite all these, you are still prone to failure.

There will be a time that you question your capabilities in your head. What might your audience think? What if they don’t like it? It is important to keep in mind that these feelings are normal and valid. Many successful owners had the same experience and mindset when they first began. But knowing that it is part of the process that you have to go through is a good way to start.

Despite the doubts, what you should focus on is starting. You cannot build momentum and achieve success without taking the first step in your journey.

We have to accept that imperfection is okay and can be used to our advantage. According to some successful brand owners of today, they only realized what improvements they need to do when they saw what’s lacking in their business and what competitors are doing to stay ahead. The ultimate goal is to begin somewhere, do your best, and hope that someday you will be able to put out a better product in the market.

Pursuing entrepreneurship can make you lonely

The challenges of opening a new business don’t stop after its early stages. Even in the middle when you thought you are already smooth-sailing, a stressful phase can still take place.

Some business owners said they felt helpless and extremely lonely when their businesses became stagnant at one point. Since most of them are solo entrepreneurs, they had no business partners or trusted mentors to run to. Having to handle all of these almost made them give up.

This dilemma pushed many businessmen to create a professional network that can help support independent businesses which like them are struggling in the beginning. Modern technology can also help a lot in automating tasks and providing accurate data that improves decision-making.

Similarly, a useful tip for all beginners is to surround yourself with people who have similar thinking and are willing to support your business and lifestyle. This will help prevent negative thoughts from dominating your mind. From this network, a community can rise and entrepreneurs can help one another by offering their resources and connections.

Take note that a healthy business mindset can be developed along the way with the help of enough preparation, taking care of oneself, and a network that will offer help and support when you can’t handle everything at the same time.

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