Sure, you may possess more of the hard facts you need. And sure, you may be better equipped with the Business 101 fundamentals. But there’s no getting around that there are some learning moments you have to experience for yourself to understand. From simple online businesses to dynamic multi-team startups, my time as an entrepreneur’s coach has shown me that there are a few key learning moments almost every business owner will experience at one point or another.
The Initial Leap
The most important moment where you learn as an entrepreneur is the moment—the moment you finally decide to take a leap on your business. This is (literally) a defining moment, but it also carries enormous personal significance. It teaches you that you can overcome the fear of failure to create something new for yourself.
Working With an Expert
In the early days of any business, it’s helpful for any business owner to reach out for help, which is another critical learning moment. Whether you reach out to an entrepreneur’s coach for strategic help or a lawyer for legal advice, this is the moment when it becomes apparent that you can’t do this alone—and that you often shouldn’t!
The Surprise Market Research
Everyone thinks they know their audience—until they surprise you. Time and time again, I hear stories of entrepreneurs who’ve built an entire product or brand without understanding their users. Getting hard data on your audience for the first time can be a massive eye-opener, and it teaches you a vital lesson: assuming and knowing are two very different things.
Making Your First Hire
Your first hire is a major milestone in general, but it’s also a learning experience you’ll never forget. Hiring a teammate is the first moment where you have an opportunity to stay true to your roots. It’s also the first moment where you’ll need to start considering the culture you want to create—so don’t rush the decision!
Once you have an established team, there will come a time when you realize you need to start handing work off. Delegating work can require a bit of a learning curve for the average entrepreneur, but you’ll quickly learn you don’t have to tackle everything yourself, and it’s better for your business if you don’t.
Enduring Sleepless Nights
Whether you find yourself groggy during a crucial meeting or burning the midnight oil to get everything done, you’ll have a moment when you realize that—cliched as it might sound—self-care is essential. Taking time for yourself isn’t just rejuvenating. It’s also what keeps you running stronger for longer.
As an entrepreneur’s Business strategy coach, I get the awesome and unique opportunity to see and help entrepreneurs navigate each of the learning moments above. It can be hard to understand how to make a strategic decision on your own in those moments, but weighing your options is part of your growth as a business owner. Welcome to the ranks of the hard-working entrepreneur!