How To Deal With Tough Times As An Entrepreneur
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Some people believed Entrepreneurs are super humans who don't face challenges, trials and problems. This is a super fallacy!
Tough
times truly don't last. But tough people do.
The
feeling of being squeezed to a corner by any challenge in your business, can be
frustrating.
Entrepreneurship
or business can be frustrating. And to the onlookers, you are a total failure.
But you should know better (That you are not). Sometimes,
you put in so much efforts and resources into a project, product, investment or
idea. And you get nothing or lose everything.
I
was having a discussion with an uncle of mine who is an entrepreneur. And we
laughed at each others tale of what has been lost and sacrifices made in our
respective business ventures. It was interesting to note that I am not alone in the journey.
We
talked at length about how an entrepreneur puts so much faith in an idea,
invest in it and then it turns out to be a failure.
In
most cases, the failure does not come from the absence or presence of an idea,
but from events surrounding the idea.
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Loosing your products or merchandise to disaster.
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Loosing your money to fraudulent dealers, distributors or companies.
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Delay in clearing certain time sensitive products from the port.
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Zero patronage on new invested product.
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Unstable Stock exchange market.
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Bankruptcy of a financial / Investment partner.
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And others.
These
experiences are not as funny as they appear to be in the story. However,
we have developed tough skin and coat to endure the pains of loss, by being
inspired by the growing medals of victory and the joy of a happy ending.
This
is what you can do when you face tough times in your business.
1. Never contemplate suicide or Self Harm.
2. Go closer to God personally.
3. Have a quiet time for reflection of who you
are, where you are going to, what the challenge is, where it started and how to
solve it.
4. Don't close shop, try to keep the list of your
business going.
5. Don't stay Idle or Isolated.
6. Read Books.
7. Find something new to do. (Like taking up a
baking or cooking class, new game, new skill, etc).
8. Find something valuable to sell, trade or
Resell. (You will need money to provide minimum essentials like food).
9. Find motivational or religious contents to
boost your spirit.
"Never contemplate suicide or Low
self esteem".
10. Think of your exit from the situation in glory.
12. Learn from your mistakes.
13. Be ready to adopt new changes on ideas,
strategies and market.
14. Be patient with time and people.
15. Plan and Restrategise from experience.
16. Remember, there is a say "tough times never last, but tough people do".
As
an entrepreneur, you should know that there is something special about being a
tough survivor of a challenge. You will have market experience to dominate. You will become a champion and a symbol of hope for others.
In
tough times, mark time with optimism and productive little or big actions in
your business. And you will be amazed at how you manage to survive as well as
how you become successful. Tough times truly don't last, tough people do!!!.
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It is kinda tough in dealing with tough times as an entrepreneur but this info helps in dealing with it
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A great decision to make in this life is, never giving up on something.... it's the best decision so far..... enduring hard times makes one overcome and conquer....
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this would be very helpful if everyone can implement it