Conquer These 5 ‘F’s for a Successful Business 

By Randall Orser | Small Business

Your path to success as a thriving entrepreneur will have downfalls, and you must be willing to conquer challenges and work through obstacles. You can’t let these challenges stop you from going after your entrepreneurial dreams, or else you’ll never forgive yourself for not having the conviction to conquer your trying experiences. The barriers on the way to entrepreneurial success are plentiful, and these 5 ‘F’s are the ones you need to beat.

Fear

Entrepreneurs need to be fearless in order to succeed. You’re a business builder and your means of growing your business needs to be bold. Do you have a fear of failure? Maybe it’s a fear of being outdone by a smarter, quicker competitor? Either way that fear will be the end of you, so don’t let fear rule your business moves. Face fear head-on, and you can go far in building your entrepreneurial dreams.

Fraudulent

You’ll probably go through what many call the ‘imposter syndrome’, which is basically a lack of confidence, and lots of entrepreneurs have felt fraudulent at one time or another in their daily business lives. You will need to triumph over your confidence issues, if you want to be a successful entrepreneur. You could better your confidence level in areas lacking, hire people that can do the jobs where you’re weaker, get helpful tips from other entrepreneurs, and in the end just believe in yourself.

Free

This is a huge thing for the entrepreneur to overcome as you are starting out and trying to be successful is the predilection to give away your products or services for free. The freemium version of a product has taken off as too many entrepreneurs and startups believe they need that in order to gain traction. If you do only one thing to improve your chances of success, consider changing your attitude towards offering your products or services for free, and double-down on providing premium value instead.

Faltering

Your chance of long-term entrepreneurial success is much less when you falter in your business building efforts. If you allow roadblocks to hinder your growth or are fuzzy (another F!) in your approach to marketing and customer acquisition, your lapses can affect your success rate. You need to be unrelenting in your approach, take glitches in stride, and grow your company confidence and conviction.

Fatigue

Your career as an entrepreneur takes work, and is much easier to have a 9 to 5 job and a regular paycheque than it is to be self-employed. Entrepreneur ship can also be draining, mentally and emotionally. Your time as an entrepreneur is going to be pretty short-lived, if you let fatigue block you from following your passion. As in many aspects of your life, develop coping mechanisms and energy hacks in order for fatigue not to end your entrepreneurialism.

Your entrepreneurial adventure will be much more enjoyable if you aim at conquering these five ‘F’s. It’s not going to be simple, but the success you’ll enjoy will be worth all that effort. Have you thought of any ‘F’s you find challenging as an entrepreneur?

Follow

About the Author

Bookkeeper Extraordinaire Number Crunchers® Financial Services Learn how to just say stuff it to this bookkeeping thing with our 'Just Say: "Stuff It" To Bookkeeping program.