Starting a business is a dream for many. For Elijah Norton, bringing Veritas Global Protection to life took a lot of planning and hard work. Starting a business isn’t for everyone, but those who can make it work feel like it’s worth it.
Before starting a business, it is vital that you can deal with problems. There are pros and cons to setting up a business, and it is how people deal with the drawbacks that will ultimately prove their success.
No fixed hours
A traditional job offers traditional working hours, usually in the range of 9 to 5 Monday through Friday. When starting a business it becomes part of life. There are no fixed opening hours as entrepreneurs are always trying to find new ways to get the most out of their business. Elijah Norton realized he had to be great in his industry.
There is always a need for the right amount of rest and relaxation, but most entrepreneurs will put in well over 40 hours a week. There is no boss to answer to and the reward can be very beneficial.
No business owner will succeed unless he has a small financial runway starting a business. It costs money to get things started, and there may be limited money coming in at the beginning. Without a constant salary, there are still plenty of bills to pay.
Inconsistent pay is just part of life when starting a new business. Some entrepreneurs don’t pay themselves for a year or more, while they try to get everything else in order.
fear of failure
All studies show that entrepreneurs fail more often than succeed. Why would anyone go into the industry with the odds stacked against them? With the right mindset, there is a chance of success.
It is essential to overcome the fear of failure at an early stage. That means you need to keep yourself in shape both mentally and physically. When depression sets in and there is a lot of doubt, seek help as soon as possible.
Having the right mindset before starting a business also helps immensely. If a potential business owner isn’t in the right frame of mind, it may be worth waiting a little longer to get started.
Lack of guidance
There are so many business tools that help individuals, but none will be able to specifically guide a business owner step by step. Because every company tries to be a little different, there is no fixed playbook. Making a plan from scratch often turns out to be the best way to go.
A person is not completely alone, but it is never easy. That lack of guidance is very different from working for someone else. An owner has to figure things out for himself. However, there are people like Elijah Norton who have found success in their business and can offer tips and advice that helped them when they first started their business.
Embracing the positive sides of business
There are many issues that everyone should be aware of when starting a business, but what about the positives? It is essential to embrace the positives and have a balanced view of this endeavour.
Running a successful business takes time, but it pays off if you just stick with it and work hard. Elijah Norton feels like this is one of the main reasons why he jumped into business in the first place. He was able to achieve considerable success at Veritas Global Protection.
An owner does not have to be motivated purely by money, but everyone wants to have success in this capacity. Seeing a business from start to finish is a rewarding experience that no one wants to give up.
Mastering the Story
As a business owner, individuals can choose what they do at all times. It’s very frustrating to have to work for someone else’s company and make decisions for them. As an entrepreneur, it’s all about mastering the story.
When it comes time to hire employees, entrepreneurs make a decision. They have every opportunity to decide who will travel with them and help in the long run.
Success feels different
There is something different from being successful as an entrepreneur compared to someone who simply works for a larger company. It shows a real sense of something coming together, rather than just being part of a much bigger machine.
No one should take success in business for granted. As mentioned before, the stats are against entrepreneurs from the get-go. Embrace the success, learn from it and see if it can be replicated time and time again.
Why the right business mindset is important
In the end, most entrepreneurs like Elijah Norton who have been successful have the right mindset. There will be challenges along the way as nothing worthwhile is easy. However, hard work allows people to achieve goals and grow appropriately.
If setting up a business was easy, everyone would do it. As Elijah Norton of Veritas Global Protection has found that focus and drive are important when starting and running a business. However, there may also be some luck involved along the way.