Many people dream about starting their own business, but very few are actually able to live their dreams by executing them, and even fewer make it past the first five years. This is mainly because a large number of times, some business owners don’t really know what to expect.
There are no words to describe what it feels like but in simple terms; it’s fun but scary at the same time. A large number of small businesses fail because of an inability to successfully make it past year one.
Many business gurus believe that with the right knowledge of what to expect, a new small business owner will know how to prepare for upcoming challenges. Here are a few things that any new small business owner should expect.
Be Ready to Hustle When You’re Tired
Isn’t that what being a small business owner is about? You may be thinking that as a small business owner, you can take a day off when you feel like it but that’s not the case. As the brains behind the entire operation, you need to hustle even when you feel like you’ve done enough. That’s the difference between being an employee and a business owner; you’ve never done enough.
There will always be paperwork that you need to sign, orders that you need to make and customers whom you need to talk to, especially in the first year. Just like in every other phase of life or industry, the initial period is always make-or-break, and the end result highly depends upon how much work you put in.
You can spend each second checking and rechecking your plans and improving them, working on ideas and developing new strategies. After all, there’s so much on your plate (marketing, product development, vendor contracts and employee training)
You Can’t Make Every Customer Happy
It’s true that as a business owner, you need to retain a sense of balance in everything you do but when it comes to satisfaction, you can’t make everyone happy. As a small business owner, you’re bound to make quite a few customers unhappy and the truth is, you don’t really need to make everyone happy, either.
It’s important that you remember that the key is to have a consistent customer service policy and handling complaints carefully. If your product doesn’t impress a customer all that much, then the way you handle a complaint is sure to make them loyal customers.