Top Ten Fears, Frustrations and Desires of an Aspiring Entrepreneur

two women one on laptop computer
 

If you are an aspiring Entrepreneur and you’re not sure how to start a business this article details creative insights to consider

Here are 10 top creative and innovative perspectives to help coach and mentor aspiring entrepreneurs on overcoming frustrations and fears to achieve their desires to become entrepreneurs.

The Biz Class is a business coaching program that wants to help aspiring entrepreneurs feel encouraged to start a business. This article sets out to help entrepreneurs quell the loneliness that starting a business evokes. There’s no reason to feel alone or in the dark because the coaching program helps aspiring entrepreneurs through the quintessential steps of starting a business. It is also an opportunity for new entrepreneurs to seek coaching through steps they may have skipped or maybe are not aware they missed.

The other intention of the article is to provide practical explanations of overcoming the top fears and frustrations of an aspiring entrepreneur while encouraging their desires to start a business.

In no particular order, here are 10 top creative and innovative perspectives on overcoming frustrations and fears and embracing desires to help coach and mentor aspiring entrepreneurs. 

Frustrations 

The Top Ten Frustrations of an Aspiring Entrepreneur 

Ten Frustrations Aspiring Entrepreneurs Can Experience

  1. Difficulty in securing initial funding

  2. Navigating complex legal and regulatory requirements 

  3. Lack of experience and knowledge in running a business 

  4. Challenges in defining and understanding the target market 

  5. Trouble with creating and executing a compelling business plan 

  6. Struggles with building a recognizable brand identity 

  7. Difficulty in finding and managing reliable suppliers or partners 

  8. Overwhelmed by the volume of administrative and operational tasks

  9. Limited access to mentorship and professional advice 

  10. Balancing business demands with personal life    

Here are ten creative and innovative ways to overcome the most common frustrations of entrepreneurship.

1. Difficulty in securing initial funding

First, it is key to understand the meaning behind entrepreneurship to understand what type of businesses entrepreneurs can seek funding for. With that said, securing initial funding depends on the definition of an aspiring entrepreneur of the individual seeking funding. An entrepreneur can be defined as a person who starts a new business and operates the business or more than one business. 

Often the process of setting up a business is known as entrepreneurship, however, a lot of times people associate the idea of entrepreneurship as exclusively meaning the entrepreneur intends to sell a physical product, like an invention, or a piece of technology (e.g., like an app) that will provide a benefit to a great number of people willing to pay for the product, invention or an app. Entrepreneurs can also be service providers such as photographers, videographers, accountants, virtual assistants, marketing consultants, web developers or dog groomers. 

So an entrepreneur can be someone who takes the initiative to establish and start a business and put forth the actions to operate a business, or someone who creates a product like an invention or a tech application. However, not all business types can apply for funding or pitch to investors to help start the business. 

I preface with that because what aspiring entrepreneurs need to understand is that initial funding isn’t required to start a business. Often, aspiring entrepreneurs cannot secure funding without having some business qualifications specific to entrepreneurship or at least a couple of years of operating from self-funding. The Biz Class is all about—learning how to start a business with a modest monthly operating budget that the entrepreneur invests in with their own money.

The Biz Class teaches aspiring entrepreneurs how to start and operate a business with a modest monthly budget of $100 to $200 to purchase services required to start their business operations. 

  

2. Navigating complex legal and regulatory requirements 

Navigating complex legal and regulatory requirements is not as complicated as most aspiring entrepreneurs may think. Especially if you intend to operate a small service-based business from your home the complexities of legal requirements are fairly straightforward.

The most important part about the legalities to consider when operating a business in Canada is contract law is very black and white. Courts do not want to interfere with contracts except in cases where there are problems that the parties themselves cannot resolve. Additionally, a court cannot save or protect someone (or a business owner) from a contract that is bad for them as long as it doesn’t violate the laws of formation or performance. 


The Four Legal Requirements for Business Owners in Canada

All that is required for a business in Canada is to satisfy these four legal requirements.

To form a contract an individual needs to satisfy the four following requirements

  • Offer

  • Acceptance

  • Consideration

  • Intention

The Biz Class will explain how to add these black-and-white contract requirements to your estimates, terms and conditions, and invoices so aspiring entrepreneurs can put their minds at ease when navigating legal and regulatory requirements. 

Please note, The Biz Class and Business Law education is sourced from Business Law Today, Second Canadian Edition published by McGraw Hill. The textbook is written by authors Nancy Breen, Craigh Stephenson, and Shane Ellis. 

3. Lack of experience and knowledge in running a business 

Running a business doesn’t have to be complicated for most service providers. The additional management of your business doesn’t require a lot of the hype you see on Dragon’s Den or Shark Tank. Dragon’s Den and Shark Tank are sensational stories of business deals that have opportunities for scalable operations and require experienced advice to scale the operations.

For most aspiring entrepreneurs starting a  running a business, all there is to complete is the expected tasks of the services they were hired to perform. 

If you want to know what the hidden knowledge in running a business is to understand the basics of accounting for a business, which is not complicated at all! Accounting is essentially the understanding what the tax laws are for your business. Bookkeeping is filing expenses accordinf to those tax laws and then filing them using software like Quickbooks Online. Part of bookkeeping is the monthly reconciliation of your bank account, sending invoices and collecting payment for them.

All of this is explained in The Biz Class business coaching program, which only runs twice a year. Don’t miss out! Classes commence in October and in April.

4. Challenges in defining and understanding the target market 

It can appear to be challenging when it comes to defining and understanding the target market of your business, especially if an aspiring entrepreneur is listening to generic advice or recommendations from people who have not been qualified as valued consultants who are marketing their services on the internet. 

A good way to understand your target market is to consider your core audiences which are component steps in preparing a strategic communications plan. The core audience is the type of people who are most likely to buy the product or service your business offers. 

Once you have identified the core audience, the goal is to understand your core audience to

  1. Mine for intelligence that’s gathered on the intended changes you want the core audience to make that will benefit your customers from purchasing your service or product

  2. Convert the intelligence findings that are gathered into strategic directions

  3. Define the strategy into a complete strategic action plan

Does it sound complex? It isn’t that complex and honestly as an aspiring entrepreneur you will know your core audience best as you are the professional who has been working with them day-to-day in your professional position. 

The Biz Class can help aspiring entrepreneurs define findings into a complete strategic action plan which will use mediums to communicate with their core audience. Your core audience is the same as the target audience which is the commonly used terminology the marketing industry uses. Sometimes referred to as niche. 

5. Trouble with creating and executing a compelling business plan 

A compelling business plan is not typically necessary unless you are looking for funding. The most compelling part of a business plan is the financial sections of the plan, which investors like to use to forecast the potential money that can be made from a core audience otherwise known as your customers or clients.

The only truly compelling part about a business plan is the potential the business will create to earn money. Aspiring entrepreneurs of a home-based service business typically have a threshold of income they can earn every year because they are billing services based on an hourly rate. Since there is only a certain amount of hours an entrepreneur can work, the earning potential has a ceiling threshold if you do not intend to develop methods to scale the services. 

In The Biz Class, aspiring entrepreneurs will understand what to work on to develop a business plan that works for them. The easiest way to determine your potential earnings is to calculate the true and reasonable amount of hours you can work every week, and consider days off for statutory holidays, holidays for Christmas or summer vacations. The amount of hours you will work each week is multiplied by the hourly rate which is a competitive rate for your marketplace. 

Sample business plan for a service-based business

Monthly Revenue (gross revenue)

The amount of hours you will work every day multiplied by the service rate per hour

  • 25 billable hours x 4.3 weeks = 107.5 hours monthly

  • Multiply the monthly hours by the hourly rate (107.5 x $45 per hour)

  • $4837.50 per month

Monthly Expenses (operating expenses)

Then deduct the monthly fixed operating expenses to calculate your net income 

  • Squarespace Subscription

  • Quickbooks Subscription

  • OnePhone Subscription

  • Other monthly expenses to operate the business

The business plan is very easy to calculate for a home-based business. There of course is flexibility in the hourly rate amount to charge for your service, but it is recommended to be competitive with the marketplace ranging between $45-$75 per billable hour. 

6. Struggles with building a recognizable brand identity 

Aspiring entrepreneurs who are looking to start a home-based service-based business often do not need to develop a recognizable branding identity as a main priority when starting a business. Essentially no one knows your brand yet, so it will be impossible to start with a recognizable brand identity.  

The best way to stand out and get recognized is to start a business and start advertising for it! Advertising works best when a business owner promotes the services or products on a regular and consistent basis. There’s not much more to it! The places that you wish to advertise are the strategic part of your communications plan, as you will want to consider using a medium where your core audiences will see the advertising messages. 

Some examples can be 

  • Business social media profiles 

  • Billboards 

  • Signage

  • Print advertisements

  • Networking groups or meetings

The Biz Class spends a dedicated amount of time on content creation because it is a crucial step for entrepreneurs and new business owners to learn methods to support them in sharing consistent advertising when they first start. The Biz Class business coaching teaches how to develop content for social media or other advertising mediums (e.g., blogs, billboards, banner ads, print ads, package design or signage) that will shared with regular frequency so that your customers or clients (the core audience) will begin to recognize your business.  

7. Difficulty in finding and managing reliable suppliers or partners 

When a business owner is serious about operating a successful business, it isn’t that difficult to find and manage reliable suppliers or partners. That’s because entrepreneurs can rely on a variety of ways to qualify other businesses to work with. 

Here are some methods of qualifying supplies or partners 

  1. Seek out business referrals through word-of-mouth from business colleagues

  2. Request qualified reviews from previous customers or clients

  3. Read online reviews (Google Reviews, Testimonials, Reddit)

  4. Contractual obligations in business law help to protect businesses from potential financial issues if a business deal goes awry

Only consider business offers that are a valid offer from the supplier or partner which is outlined in #2 Complex Legal and Regulatory Requirements. 

The Biz Class business coaching program discusses how to qualify a business lead before the contract is established known as an initiation to treat in business law. The Biz Class also teaches how to identify valid offers and prepare an estimate with terms of conditions for client approval.

8. Overwhelmed by the volume of administrative and operational tasks

Administrative and operating tasks are typically minimal tasks to complete on a day-to-day basis for a small business run by an entrepreneur with a home-based service business. If the administrative tasks are complicated they can be handled by a professional such as an accountant. 

Additionally, most small business owners who operate out of their homes only need to manage a handful of business administrative tasks which can be completed once a week or sometimes only once a month. 

Some examples of administrative tasks for small businesses running a business out of their home are

  1. Weekly bookkeeping responsibilities such as matching business expenses in Quickbooks

  2. Sending an invoice

  3. Drafting an estimate

  4. Preparing a customized terms and conditions document for a new prospective client (copied from a customizable template)

  5. Filing quarterly HST (QBO online will tell you what amount to file with up-to-date books)

Most administrative tasks will only take a few hours each week. Aspiring entrepreneurs can plan their work hours every day to maintain a daily majority of billable work and condense non-billable work into a couple of hours weekly to reduce feeling overwhelmed. 

Billable work will take up the majority of your time, however, if you are operating a business that requires a lot of business development time you must include that in your hourly billable rate so that you are compensated fairly for the cost to acquire the business.

9. Limited access to mentorship and professional advice 

Mentorship and professional advice can be found anywhere these days.YouTube has many mentors and professional advice from accountants, lawyers, and other successful business owners offering aspiring entrepreneurs business coaching advice. Many professionals make videos as part of their strategic communications plan to attract new customers by publishing content to help aspiring entrepreneurs with free information. 

If you are looking for structured and customized business coaching Canadians can look to resources developed by municipal, provincial and federal governments. There are business centres or resources in your city for small business owners to help start such as small business enterprise centre locations in your province. Organizations like DMZ in Toronto or Startup Canada may offer helpful resources. Business centers in your city host learning opportunities to access new resources or free consultations with a qualified business consultant.

If you are looking for a personalized coaching experience to help you start a business as an aspiring entrepreneur consider The Biz Class business coaching for mentorship and professional advice. 

10. Balancing business demands with personal life

Balancing the demands of business with your personal life can be an intimidating challenge when you start as an aspiring entrepreneur. However, it’s not as hard as you might think to establish barriers to balancing business demands with personal life, even when you are working from home on your business.

The way to balance business demands with your personal life is to set barriers for work. Here are some examples

  1. Only work on the business from 9 am to 5 pm every Monday to Friday

  2. Weekends and evenings are off

  3. Establish firm days off for holidays and dates you will take vacation

  4. Take breaks at scheduled times (a routine forms habit and positive actions)

  5. Turn your computer off at the end of the workday

  6. Don’t connect your business email to your smartphone or silence emails by turning off email notifications 

  7. Avoid burnout (manage your week by taking breaks or a personal day off)

Ultimately you want to avoid burnout. Burnout can be expensive and a scary time for an aspiring entrepreneur. To balance business demands with personal life be strict about enforcing your boundaries on balancing business demands and personal life. 

Fears

The Top Ten Fears of an Aspiring Entrepreneur 

Ten Fears Aspiring Entrepreneurs Experience

Innovative ways aspiring entrepreneurs can get creative about overcoming fears of starting a business.

  1. Difficulty in securing initial funding

  2. Navigating complex legal and regulatory requirements 

  3. Lack of experience and knowledge in running a business 

  4. Challenges in defining and understanding the target market 

  5. Trouble with creating and executing a compelling business plan 

  6. Struggles with building a recognizable brand identity 

  7. Difficulty in finding and managing reliable suppliers or partners 

  8. Overwhelmed by the volume of administrative and operational tasks

  9. Limited access to mentorship and professional advice 

  10. Balancing business demands with personal life    

Practical explanations to overcome the most common frustrations of entrepreneurship

1. Fear of business failure or collapse       

Failure of business isn’t necessarily a bad thing and is inevitable. The key to working through potential fears of failing is reframing how an aspiring entrepreneur thinks about their business failure. Sometimes failure can be a good thing using feedback to improve the product or service. Essentially the perspective on how you perceive failures is what is important to overcome fears of business failure or collapse. 

It can take several years for a new business to start to get the hang of things. It can take time for a new business owner to understand the needs of their market by listening to what the market is telling them. At first critical hearing feedback, it can seem as if the product or service is failing or the business will collapse but it is entirely possible the idea failed. If an entrepreneur sees past it they will identify an opportunity to pivot and refine the idea into something better suited to the market’s needs.

       

2. Fear of running out of money or facing financial instability 

Running out of money is entirely possible with or without an abundance of clients and work to complete. Jobs today lack security like they once did (e.g., union, pension, benefits) and aspiring entrepreneurs have greater potential to earn as they are not locked into a specific employment contract or an annual salary amount.

The good news is entrepreneurs can start and add new business ideas (or products) at any time, making it easy to recover from a business facing financial instability. 

3. Fear of legal issues or regulatory non-compliance 

Legal issues are black and white in business contracts which is why it’s important to understand the power behind contractual agreements of two parties. A court can’t defend you in a bad contract, and a court can only assist when the parties cannot agree.

Being non-compliant with regulatory policies isn’t something an entrepreneur needs to be overly concerned about. If the aspiring entrepreneur is a professional in their career sector, it should be natural for them to comply with any regulatory policies as they relate to the profession they are working in. 

4. Fear of not attracting or retaining customers 

A fear of not attracting or retaining customers is a real fear. However, if you are confident that applying for jobs with an employer with whom you have had no prior relationship can land you a job, why would it be any different when attracting and retaining customers to sustain your small business?

5. Fear of negative feedback or poor reviews         

Negative feedback or poor reviews come from customers who are usually unsatisfied with a product or service. It’s in the best interest of the aspiring entrepreneur to consider the types of feedback they could receive in a public forum like Google Reviews and make the necessary changes to resolve it before it impacts the business negatively.

Sometimes feedback is a symptom of the necessary process to learn, refine and improve a product or service to become a better version of what it was before. 

6. Fear of making costly mistakes or misjudgments    

The cost of mistakes or misjudgments needs to be included in the cost of a project. Mistakes are inevitable and so are misjudgments. That’s because mistakes and misjudgements can be backed by educated assumptions. If you have planned or forecasted in a project to have your errors repaired or fixed then the fear that they will be costly can vanish from your reality, bringing in a new perspective and a sense of urgency to thrive and succeed at the task at hand.

7. Fear of high competition and market saturation    

Competition is good for business. Rarely though, competition is a direct competitor, and often there are service characteristics of value that differentiate from a competitor. 

What this means is many competitors offer similar products or services making them indirect competitors because they do not exactly offer the exact likeness of each product or service. The differences in products or services can be what makes your business stand out in a saturated market, and as a result, work in your favour. 

8. Fear of not achieving growth targets or milestones 

Growth targets need to be reasonable and achievable targets for home-based businesses. The same goes for milestones. Growth targets can be achieved with consistent action of daily tasks that align with a business strategy. 

The Biz Class learners get the required information needed to set reasonable growth targets and milestones for their business. Most often, growth targets are money-motivated milestones, where a certain amount needs to be made. Some growth targets and milestones are arbitrary as they were not defined by a strategic action plan. Additionally, goals that have no hard deadlines or milestones to stick to so are arbitrary.

Some examples of arbitrary goals are writing down business plan goals “to earn 10,000 monthly”. While this goal may be achievable, it might not be achievable for your business because of the hourly rate set and the number of hours scheduled to be worked weekly. 

Set yourself up for success by creating achievable growth targets or milestones that are within reason of achieving. It’s beneficial to have an aggressive goal to work towards but there has to be a bottom line so all of the operational costs including your salary are achieved. Targets need to be based on the present reality of your abilities and profession based on today and not on some near or distant future goals.  

If the growth targets are outrageous it may be harder to achieve them, or even impossible, causing entrepreneurs to feel defeated, burned out, or insecure about the future of the business.

9. Fear of burnout from excessive workload and stress 

The best way to approach excessive workload and stress to avoid burnout is to manage daily projects within reason. It’s also important to accept work that can be completed within a reasonable time. For more insight and considerations for managing burnout, read Balancing Business Demands with Personal Life from the list of top ten frustrations of an aspiring entrepreneur.

10. Fear of not being able to effectively manage and scale the business

Not every business is a scaleable business. For most home-based service businesses, scaling the business isn’t something you’d invest in anyway. That’s because most home-based businesses only have a small team of one or two people and limited methods of automation implemented. 

Not scaling a business for a home-based service business is okay! Operating a business that earns the salary of the person who owns it plus the monthly operating expenses is as successful as a business that is scaled.

Desires

The Top Ten Desires of an Aspiring Entrepreneur 

A List of Aspiring Entrepreneurs’ Desires 

  1. Securing sufficient startup capital              

  2. Developing a clear and actionable business plan  

  3. Building a strong and recognizable brand identity

  4. Achieving steady revenue and financial stability 

  5. Attracting and retaining a loyal customer base   

  6. Creating an effective marketing and sales strategy 

  7. Establishing a network of industry connections   

  8. Gaining industry recognition and credibility     

  9. Efficiently managing operations and administrative tasks 

  10. Balancing business growth with personal well-being 

Creative ways aspiring entrepreneurs can fulfill their desires to start their own business 

1. Securing sufficient startup capital      

For-profit service-based businesses normally would not apply to secure startup funding because services typically don’t require anything to fund. Typically the only types of businesses that will receive funding are inventions, product ideas or businesses that are scaling products like the production of a food product.

Service-based businesses sometimes can receive funding to hire staff or will cover partial amounts of the hourly wage for an employee, but funding cannot be applied to cover an owner's salary or wage. Instead, funding can sometimes be used to secure equipment purchases such as technology or other equipment to help the business start operating. 

If you are a student or a new business owner there are funding programs in Ontario available with application to two programs. Summer Company and Starter Company are programs run by your local business centre and they both provide startup capital between $3000-$5000. The startup funding is applied to things the business needs to operate like machinery, technology or other specialty equipment. 

If you have an idea to operate a service-based business but don’t have the extra income to save money or cannot afford to quit a full-time job to start the business, it is possible if you are willing to consider an alternative option.

The Biz Class teaches aspiring entrepreneurs how to start a business with a small monthly budget of between $100 to $200 to cover monthly operating expenses. The exact amount depends on the type of service business you choose to operate. During the business coaching program, aspiring entrepreneurs will learn how to calculate the operating expenses, and the potential monthly revenue, and learn how to implement business development strategies. Learners will also design a logo and a website, including developing the technical skills required to maintain and update a website without hiring a web developer to keep costs down.

The Biz Class allows aspiring entrepreneurs to start a business with an affordable way to learn all about the essential steps of how to do it yourself over four months of business coaching. 

This coaching program teaches the startup lean method, which is to only purchase the necessary things a business requires to get started—business and communication, designing for sales, and making money. When an aspiring entrepreneur registers for the business course they receive a bunch of extras for no additional charge which also helps to reduce the startup costs.

Entrepreneurs receive an extended 6-month trial to build their website (normally it’s only 14 days at signup) with zero website software costs, and free domain registration with a professional email address with the domain for one year. The coaching program will help you prepare all the other necessary assets for generating sales like sales sheets, slide decks, and presentations for webinars or new business meetings saving you the cost of hiring a designer. All of this is possible because The Biz Class coach is an academically trained graphic and web designer. Since the coach is a professional designer, the coaching sessions are completely customized to your unique needs.    

2. Developing a clear and actionable business plan  

It is easy to develop a clear and actional business plan for service-based businesses operating at home. This is because the cost to operate is low as there are no higher cost expenses to cover like commercial space rent, insurance, utilities like hydro or security systems. 

The Biz Class coaching program works one-on-one with aspiring entrepreneurs to define and develop a clear and actional business plan that aligns with their business and financial goals. Following the business plan development, the business coaching program connects the business plan to strategic actional steps to advertise to the core audiences. 

3. Building a strong and recognizable brand identity

Building a strong and recognizable brand identity doesn’t happen overnight. Branding is a concept that is advertised with regular frequency to a market (the target audience) or a demographic in marketing terminology. In strategic communications, advertising is a means to communicate the benefits of a product or service to prospective customers by understanding the core audiences of the business and preparing messages regularly to them. All components of the strategic action plan connect the audience to identifying a recognizable brand identity.

4. Achieving steady revenue and financial stability 

Achieving steady revenue and financial stability is a challenge when aspiring entrepreneurs start a business, but it’s not impossible.

The goal to achieve steady revenue and financial stability is to create a financial goal for each month that covers the essentials plus extra savings and retirement plans. Ask yourself, ‘How much money is required every month?’

Here are some example costs to help calculate an amount to earn for steady revenue and financial stability.

  1. Cover living expenses 

  2. Monthly operating expenses

  3. Annual operating expenses

  4. Savings

  5. Retirement

  6. Personal taxes

Other than that, aspiring entrepreneurs need to engage with clients to generate repeated contracts with clients or customers. Not all customers will be lifelong customers but if you impress any of your clients that will advertise your services benefits through word-of-mouth advertising, those business relationships can go a long way for you. 

5. Attracting and retaining a loyal customer base   

Attracting and retaining a loyal customer base is the dream but it is not always possible because clients can outgrow a small business owner. The reasons can have nothing to do with your business negatively, but because they have grown and decided to hire your replacement as full-time staff as it is more cost-effective for them. 

Be reasonable when working with clients and understand that they are unlikely to pay you for full-time hours as your higher hourly wage would cost more than hiring full-time in-house. Typically clients outsource work because they do not require the services for a long time, and only on a contract basis to complete a specific project task. Projects can range from a day to several months. 

If a client does hire you for a long term it is considered to be retained services and hours will likely be part-time hours. Aspiring entrepreneurs need to consider working with 2-5 retained clients at one time.

6. Creating an effective marketing and sales strategy 

Marketing has a lot to do with a specific marketplace or the audience in that marketplace. An effective marketing and sales strategy can be simple enough that the aspiring entrepreneur communicates the benefits of their services consistently on the media where their audience typically looks for assistance with these services.

The Biz Class helps aspiring entrepreneurs plan their strategies for marketing campaigns and teach learners how to design graphics and create content for social media and a website.

7. Establishing a network of industry connections   

Establishing a network of industry connections is beneficial, although surprisingly it is not the only way to generate leads or run a successful business. Instead, it can be beneficial to establish a network of qualified people who give referrals to their colleagues about your services, otherwise known as word-of-mouth advertising. 

8. Gaining industry recognition and credibility     

Gaining industry recognition and credibility depends on an aspiring entrepreneur's goals. Not everyone who aspires to run a business needs to have industry recognition and credibility. If you are not a recognized leader with industry recognition this doesn’t mean you are more successful than other businesses or not successful at all in business. 

Aspiring entrepreneurs need to build relationships with their core audiences to help the audience see value and be motivated to purchase the services or products. Gaining industry recognition from competitors or colleagues won’t guarantee sales because let’s be honest, the competitors sell what the aspiring entrepreneurs do too! 

Ultimately if an aspiring entrepreneur puts forth the same energy and effort to gain industry recognition towards communicating consistently with the core audience it will benefit the entrepreneur's recognition and credibility in the industry indirectly while earning new business.

9. Efficiently managing operations and administrative tasks 

Efficiently managing operations and administrative tasks is easy if the entrepreneur is willing to create a routine in their regular schedule each day, week or month. For more on how to manage operations and administration tasks effectively check out the process for reducing the feelings of being overwhelmed by admin tasks and operations. 

10. Balancing business growth with personal well-being 

Aspiring entrepreneurs can balance business growth by setting a schedule based on their business plans, and strategies to achieve growth targets and milestones. 

Aspiring entrepreneurs can be fulfilled with their businesses by setting boundaries around their work schedules to balance their well-being. For example, an entrepreneur can take an afternoon off to enjoy an extracurricular activity and return to their home office to complete work they missed earlier in the day, or block off time to work time later in their their week. 

Balancing business growth is all about being honest with yourself as an aspiring entrepreneur on amount of hours you can work on the business without it causing you to feel burned out. Running a business in your preferred job or chosen career should feel enjoyable and fulfilling and not like a burden to oneself but first, you have to start!

 

Join The Biz Class

Join the Biz Class and I promise to show you how to start up a service-based business from home with a modest monthly budget of $100-$200. The budget is so affordable because the business coaching program teaches you how to start everything on your own and maintain the needs of the business independently (without hiring designers, developers, lawyers or accountants) to help you get started.

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