If you are considering the entrepreneurial journey, then you may have already weighed many of the pros and cons in taking on this new venture. From the financial aspect and its commitment, to the hours of hard work and personal time sacrificed, to finally the personnel and logistics that goes into a company, the entrepreneur’s path is not an easy one.
However, what’s the fun in taking the easy path in life all the time? Entrepreneurship is a challenge, one that can be daunting due to the weight of its expectations in the final result being a success for both yourself and the people you serve and employ. Regardless of all the scare tactics one can tell themselves when thinking of becoming an entrepreneur, there is so much more this journey offers than just a monetary benefit.f
Becoming an entrepreneur is not just about the hard work you put into opening a business, but also about the personal growth one endures as well. The path of entrepreneurship is one that can test an individual in many ways, but ultimately, teaches invaluable life lessons that can’t be taught in a classroom or at a seminar.
Here are some examples where becoming an entrepreneur can grow a person in ways that one never thought possible, and why experience is so crucial in becoming a better leader and boss.
This consists of strengthening self-esteem and confidence
You are in charge. That means that you make the big decisions on who you hire, the time your place will operate, and all financial aspects that goes into running a business. When you take on a role where you make decisions and others follow your lead, then you start to build confidence and self-esteem in yourself.
Putting yourself out there in a position that requires you to be a leader can be tough. It is a role where good and bad decisions have to be made that can affect both you and your team. However, not everyone chooses the entrepreneur path for many reasons, and that alone should make you realize that it takes a special person to face the challenges and pressures of owning a business. This means that you were up for the challenge, and by taking it on, you are already a leader.
As entrepreneur, you start to step outside your comfort zone and do things you didn’t think were possible because you had the confidence in yourself and in making your dreams a reality. This lesson not only carries over to business, but also in your personal life and endeavors. You will find that if you can make important decisions at work with confidence, then you can also make them in your personal life as well.
1. Understanding the strengths and weaknesses of yourself
Entrepreneurship teaches you more about yourself than you realize. You come to understand your strengths and weakness, along with your successes and the areas that need to be improved on.
It is a humbling task taking on an entrepreneurial role. You learn what traits you thrive in, and which other ones you need to work on. That’s not a bad thing, as we are always a work-in-progress, even for the well-known entrepreneurs of today and yesterday. Even the most successful business leaders didn’t get to where they are now by not adapting, but by understanding their strengths and weaknesses and learning to evolve and change them over time.
2. Improving communication skills
I have seen first-hand how the lack of communication can really cause disruption and chaos. When no one knows what’s going on, rumors spread and people get aggravated fast. Keeping communication open and flowing is imperative for your company and its reputation. Regardless of whether you run a small business or corporation, you want to be the one who shares company information before others start to fill in the silence for you.
When you become an entrepreneur, you have to be more open and improve your communication methods to your team along with those outside your organization. As someone who leads a business, being a good communicator is instrumental in staying on the pulse of what is being said and how your team feels about the company. Your employees will feel more involved in company matters, and you feel better in knowing that your team is aware of anything before it’s out of your hands.
3. Creating a compelling and inspiring vision and mission
If you don’t have a mission to believe in, then why should others follow you in that dream? Most companies have a mission statement they share with potential and current employees on what the overall goal of their company is. As entrepreneur, sharing that vision not only inspires others to follow you, but also gives some the extra push they need to make their own dreams possible as well.
Creating a vision or mission statement not only gives your team something to believe in, but also helps them see the bigger picture of what your company is about. Most workers, especially Millennials, long to belong to something greater than just another business. If you share your vision with them in a way that is impactful, you will find that people will be more loyal to you and your brand.
4. Learning how to set healthy work and client boundaries
With running a business, you are also a manager of personalities and people. If these individuals aren’t flowing well, neither is your business. The same can be said for the clients and the customer base that your business serves.
I have known many people to have “regulars” at their business establishments, and when a company knows the importance of customer service, you find yourself with many loyal customers.
However, you also see the importance of having healthy boundaries with those loyal and potential customers. Setting guidelines that aren’t ambiguous or leave room for interpretation are key for this to happen. Along with keeping communication open (please see above) with your team, this helps make a comfortable and safe environment for everyone – customers and employees alike.
As you can see, being an entrepreneur pushes you in ways that you never thought possible. If you were ever on the fence about taking this jump, hopefully seeing the ways in which you will grow will help you in taking the next step in this journey. After all, life is about risk and challenges and being an entrepreneur is one of the best ways to grow and evolve, not only as a worker but also as a person.