How To Survive Your First Year As An Entrepreneur

The first year for anyone in business is very tough. Most especially when you have just left a paid job to start working on your own.


This is why you find that most entrepreneurs exit in the first year. To be a successful entrepreneur, you have to be willing and courageous enough to jump into the deepest of ends to make your business work out well.

Here are some survival tips to guide you through this journey:

Focus on your goal
Your goal is something you believe in and is truly attainable and measurable. Always keep your eye on the goal and remain passionate about it. Your goal pushes you to keep going even when all roads seem to cave in. If you cannot clearly define your goal. You need to stop and re-strategize.

Join a networking community
Networking helps a lot especially when you are a start-up. No man is an island and you need support to survive and grow. Find a community where you can network with like-minded people in your field, learn new things and be constantly pushed to strive higher.

Don’t get comfortable
When you are content with being comfortable, there is no motivation to strive for higher achievements. Do not forget we live in an ever changing world where economies are constantly fluctuating. Therefore you cannot afford to remain content with the little you have. Always push for more.

Evaluate your competition
Everyone has a good idea to offer. Stay ahead of competition by monitoring trends and new entrants. This way, you remain one step ahead of them. Read our post here to learn how competition can help your business to grow.

Be Prudent
Do not feel because you are now your own boss, you can expend funds without accounting for it. You have to learn to live small before living big. Most of the successful entrepreneurs we see today started small

Know when to Take a Break
Take breaks from time to time to get you refreshed. It is only when you feel refreshed you can be hot with new ideas flowing.

No one ever promised the journey to entrepreneurship a smooth ride! There are always challenges and obstacles to be faced along the way. How you deal with these challenges will determine the end result for you.

(Credit: GTBank SME MarketHub Merchant