Marketing School - Digital Marketing and Online Marketing Tips 7 Risks of Going Out On Your Own #1916
Nov 14, 2021
Diving into entrepreneurship can be thrilling, but it's fraught with risks. Expecting financial security is often unrealistic, especially at first. The fear of outside judgment might make you doubt your choices. Additionally, mentorship may not always be available when needed. Running out of funds too soon is a real concern, alongside the threat of burnout from long hours. It's a path that demands resilience and an ability to rely heavily on yourself.
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No Safety Net
- Prepare for a challenging journey with no safety net when going all-in on your business.
- Be mentally and physically prepared for struggles, as there's no guaranteed paycheck.
Financial Preparation
- Cut costs and manage savings effectively to extend your runway.
- Having more resources allows for more attempts and increases chances of success.
Handling Judgment
- Develop thick skin to handle judgment from others.
- Expect naysayers and be prepared for potentially negative feedback from friends and family.