New Entrepreneur – So, you’ve taken the plunge into the world of entrepreneurship. Congrats! That first step is huge. But now you’re probably staring down an overwhelming list of “how to” guides and strategies, wondering where to start. Believe me, I’ve been there. In fact, I still have a running list of things I wish someone had told me when I first started my business. Over the years, I’ve learned a lot the hard way, and I want to save you from some of the common mistakes I made. So, let’s dive into seven key strategies every new entrepreneur should know—these are the things I wish I knew from day one.
7 Key Strategies Every New Entrepreneur Should Know
1. Get Clear on Your Why
If you don’t know why you’re doing what you’re doing, everything else is going to feel pointless. Trust me. I spent the first year of my business bouncing from one idea to the next, trying to find something that would stick. I thought that if I just worked harder, I’d get the results I wanted. But in reality, I was just burning out and feeling more lost.
So, here’s the thing: you need to find your “why.” Why do you want to start this business in the first place? For me, it was about helping people and creating a lifestyle where I could spend more time doing what I love. Once I got clear on that, things started to click.
Now, don’t get me wrong—your “why” can evolve over time, but having that initial foundation will keep you grounded. When things get tough (and trust me, they will), your “why” is going to be the thing that pulls you through. It’s your compass. Without it, you’ll just be wandering aimlessly.
2. Start Small, Think Big
I get it. You’re excited, you’ve got ideas coming out of your ears, and you want to do everything, like yesterday. That’s totally normal. But here’s the thing—starting small is one of the best pieces of advice I can give you.
I remember when I started, I had a million ideas for products, services, and marketing strategies. I wanted it all, and I wanted it now. But what I quickly realized is that trying to do everything at once just spread me thin. I couldn’t focus on any one thing, and my quality suffered.
Start with one thing. Do it well. Then, once you’ve got that down, scale up. One step at a time. Think big, but start small. Trust me, it works.
3. Embrace the Learning Curve
Oh boy, this one was hard for me to accept at first. When you’re starting a business, you’re going to face challenges that make you question if you’re cut out for this. And the truth is—you’re not going to know everything. And that’s okay. Seriously.
When I first started, I was terrified of making mistakes. I’d sit on decisions for days, trying to figure out the “perfect” way to do something. But perfectionism will paralyze you. What I had to learn is that mistakes are part of the process. They don’t define you—they teach you.
The first time I tried running a Facebook ad campaign, it was a total flop. I mean, the results were laughable. But instead of throwing in the towel, I used it as a learning experience. Now I run ads with confidence. Every mistake was a lesson I could apply the next time.
4. Build a Strong Network
You’re going to need support. And no, I’m not talking about just family and friends. I mean a network of people who get it—other entrepreneurs, mentors, people who are going through similar struggles. This is something I neglected for way too long. I thought I could go at it alone, and let me tell you, that’s a lonely road.
Once I started connecting with other entrepreneurs—joining groups, attending networking events, and seeking out mentorship—I realized how much I had been missing. Not only do you get advice from others who’ve been there, but you also build partnerships, collaborate on projects, and just vent when things get tough. Trust me, you don’t want to do this alone.
5. Don’t Underestimate Marketing (Seriously)
Marketing is the lifeblood of your business. Period. I can’t even count how many entrepreneurs I’ve seen struggle because they were too shy, unsure, or downright lazy about promoting their business. When I started, I focused way too much on perfecting my product and not enough on getting the word out.
Here’s the hard truth: it doesn’t matter how amazing your product or service is if no one knows about it. It’s like throwing a party and not inviting anyone. The first time I made a real push on social media and email marketing, I was blown away by the results. Suddenly, people started reaching out, and my sales went up. Marketing is non-negotiable if you want your business to grow.
6. Know Your Numbers
If I’m being honest, numbers are something I struggled with for a long time. I wasn’t great with budgeting, forecasting, or even understanding my business’s financials. But let me tell you—this is critical.
The first time I had to hire an accountant, I was so embarrassed. I didn’t even know the difference between profit and revenue. But getting a grip on your finances is essential. You need to understand where your money is coming from, where it’s going, and how to make smart financial decisions for the future. If you don’t feel confident with numbers, hire an expert, or at least get yourself some software that makes things easier. You don’t want to learn the hard way that you’re losing money because you didn’t track your spending properly.
7. Take Care of Yourself
Last but certainly not least—take care of your health. I can’t tell you how many entrepreneurs I’ve seen burn out because they were so focused on their business that they neglected themselves. I definitely fell into that trap. I’d pull all-nighters, skip meals, and exercise? Forget about it.
But here’s the thing: if you don’t take care of your body and mind, you won’t be able to run your business for long. It’s not sustainable. So, take breaks, get some sleep, and make time for activities that refresh you. I learned the hard way that rest is not a luxury; it’s a necessity. Your business will suffer if you’re running on empty, and trust me, you’ll be way more productive when you’re feeling your best.
Starting a business is no joke, and you’re going to face plenty of hurdles along the way. But with these strategies in your corner, you’ll be way ahead of where I was when I started. Be patient with yourself, learn as you go, and remember—it’s okay to mess up. Just keep going, and you’ll get there. You’ve got this!
