A 15-year-old wants to become an entrepreneur and turned to Reddit for help. Although experience is the best teacher, you can learn a lot by asking entrepreneurs about some of the hard things involved with entrepreneurship. Business owners shared a mix of harsh truths, hard things, and valuable lessons in the comments.
Thinking Of Ideas Is The Easy Part
It's relatively easy to think of business ideas. You can look for ideas in your local community, think about things that you enjoy, and ask ChatGPT for some business ideas. One entrepreneur's harsh truth is that ideas are easy to find, but turning them into successful businesses is the hard part.
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"The hardest part is not having the idea, but having the discipline to carry it forward even when you get bored or don’t see results right away," a commenter said. "If you learn that at 15, you’re already halfway ahead of adults."
The business owner then suggested that you move forward and learn from your mistakes. When you have an idea and a general framework of what you must do for your business, it's time to take action. Action builds consistency and can clarify the next action you should take for your business.
Marketing Is A Key Hurdle For Entrepreneurs
One entrepreneur mentioned marketing as one of the hardest things about being an entrepreneur. When you start a business, you're responsible for spreading the word about your company. No one else will do it for you, and you may have to invest in online ads, content marketing, and other marketing channels.
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You may have to try several marketing strategies before you discover what works for you. Along the way, it's easy to get distracted by shiny objects, such as a new social network that has been generating extraordinary visibility for early adopters.
Business owners can analyze their competition for marketing ideas, but discovering variations of their competitors' marketing strategies can help them tap into new audiences. You also need a quality product or service to generate high conversion rates. Marketing just gets the word out, but your selling ability and the quality of your offer also determine how much money you will make.
Feast Or Famine Cycles
Entrepreneurship appears riskier than a regular job. Business owners are entirely responsible for an income that can fluctuate dramatically. Some months can earn much more than a typical job, while business owners may struggle to get any sales in other months.
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Starting a business does give you a higher ceiling, and it can be less risky as you diversify your revenue. The big risk with a traditional job is that if you get laid off, your income goes down to zero. People who stay at their jobs have a stable income that may gradually go up over time if they ask for raises. However, it's possible to make $10,000 in one month and $1,000 in the following month as a business owner.
Being financially disciplined during the busy months can give you some stability during the slower months. The busy months can eventually become more profitable, and the famine months may not be as bad if you continue to grow your business.
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