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What they Don't Teach You about Entrepreneurship

Discussion in 'General Business and Entrepreneurship' started by EF-Roger, Jan 7, 2016.

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  1. EF-Roger

    EF-Roger Member

    Tell us what you have learned that was not taught to you in the beginning. In other words has your adventure been rags to riches or otherwise?
  2. Apolloniac

    Apolloniac Member

    When I was younger people tell you to save money but they don't tell you how. So I put mine in the bank which was in retrospect a bad idea because the money wasn't growing. Later on in my life did I invest in stocks and bonds when I started learning about business and finance in school.
  3. K

    K Member

    Just exactly how much money you have to spend before you make some back!
  4. T J Tutor

    T J Tutor Member

    Oh I've gone from rags to riches several times. I've been too brave in the face of risk a few times. The same element can make you succeed as well as fail.

    I've been an entrepreneur my entire life and what I learned is that you can not rely on what you are taught until you have found a sandbox to test out the information. The biggest and most important lesson for me has always been verify, test, verify, test, and verify!

    Too many simply take information at it's face value and aren't willing to take the time and effort to confirm and validate the data before entering into a business.
  5. pwarbi

    pwarbi Member

    I've also gone from rags to...well, I wouldn't quite say riches just yet but hopefully in the future that's where I'll be!

    One of the lessons I've learned is don't rely on anybody but yourself. This might be a lesson to abide by in life, but in business it's even more imperative that the only person you trust is you.
  6. ReadmeByAmy

    ReadmeByAmy Member

    Before I had been into a business that did not gave me a good return of capital that is why I decided to closed it. I was still younger at that time and all I knew is that if you had already your capital outlay everything will just follows. And I learned that you really had to work hard and should had the patience and to rise up when you fall down and never to give up to reach your aspirations and success in your business.
  7. Brian D. Evans

    Brian D. Evans Member

    I would have invested my time in finding mentors a lot earlier.

    In the early days I had this "I want to be self-taught" mentality. Which is, in reality, just an ego trip. There are all these entrepreneurs out there that pride themselves in saying they are "self-taught" which again, just means that instead of using wisdom of potential mentors around them, choose to gamble and try to learn themselves.

    It's OK to learn on your own, but you have to get the basics (and more) from a mentor or you are just wasting your own time which is the one thing that most entrepreneurs are trying to preserve.
  8. pwarbi

    pwarbi Member

    Sadly these days there aren't that many mentors around though like there used to be.

    In days gone by, there was a lot of people who would want to take an up and coming businessman or entrepreneur under their wing and guide them.

    These days though there's more of an every man for himself mentality, and everyone is looked on as competition.
  9. briannagodess

    briannagodess Member

    I think that they don't teach us how to find out what's the best business for us is. It's up to us to find out. Do your research, find what industries are the best for you and then decide whether it's worth it. You might invest in a wrong one, but you need to learn from it. You might have lost money rather than earned it, but that's just the way it goes. At least, in the end, it's your decision, nobody dictated you on what to do. And you learned from it so that in your next endeavour, you will be able to succeed and win it.
  10. Goldstandard89

    Goldstandard89 Member

    What I learned is that I can't get attached to ideas. If you aren't willing to bend and change the plan, you will keep failing if the core idea isn't good. Most of the books I read about business and entrepreneurship talk about taking an idea and keep working on it until it works out. As good as that sounds on paper, that hasn't worked for me. I work from an idea and constantly hone it or completely change it if it doesn't work.
  11. jona

    jona Member

    Nobody teaches you that the most important parts of running a business are a series of incredibly boring and repetitive tasks that have nothing to do with your "passion" or what you are good at, but are, nevertheless, crucial for your business to have any success.

    A lot of people start a business thinking that it is going to be about them doing what they love and are surprised with all that paperwork and grinding involved for running a company.
  12. scotbiddick

    scotbiddick Member

    You can always look for business advisers to help you out. Some people don't teach you because you are competition.
    Home | Scott-biddick
  13. Cleveland76

    Cleveland76 Member

    Don't assume that just because you couldn't make a given marketing channel work for your business, that someone else can't. You got terrible response rates from your attempt at email marketing? That's not to say you couldn't potentially hire someone else who can make it drive tons of leads for you. Not interested in cold calling other businesses and and getting into B2B marketing? There may be others out there who can make this really work for you. While it's good to be hands on, at least for some period of time, where you can gain a better understanding how a given marketing channel functions, don't let your ego get in the way if you aren't necessarily the best at any one of them.
  14. Nancy

    Nancy Member

    Lucky for me, my dad was an entrepreneur and inventor. He dropped out of school after 10th grade, but is one of the smartest people I know! I watched, listened, and learned from his failures and successes. Our family was always involved in his ideas and projects.

    He gave me excellent advice when I was first starting in business that helped me to be profitable. I went to college for a while, but found what I had learned from my father and my own business experiences was much more useful than what they were teaching. I did learn a few things; especially in accounting classes!
  15. jikajika

    jikajika Member

    The thing they don't teach you about entrepreneurship, and this is REALLY important, is that depression is going to happen.
    They don't tell you that there will be times when your ideas fail so badly that you beat your head against the wall saying to yourself, "Think harder. You can figure this out".
    They don't tell you that entrepreneurs, especially, put so much pressure on themselves to be "better" that we disappoint ourselves when we don't reach those expectations and fall into a black abyss.
    They don't tell you that when you feel like your in the trenches taking on grenades; when everything's falling apart, that THERE IS someone else out there going through this, or has gone through this, and that you are not alone.
    They don't tell you that when you are feeling depressed you have to FORCE yourself to be around others in a conversation. You NEED a hug. You NEED to relieve the pressure through physical exertion.
    This is the dark side of entrepreneurship that NEEDS to be addressed.
  16. ruener79

    ruener79 Member

    If you choose to be an entrepreneur you practically own your time! It might be precisely right that you basically own your time. But what they don't tell you is, especially if you are just starting out, is that your business will practically eat a lot of your time. There seems to be more work to do, especially if you are bent on making your business a success. Of course there is the idea to outsource so you can free up some time, but if you're just starting out, you seem to want things to be under your control.
  17. jc banks

    jc banks Member

    They don't teach you the importance of time management, if you can't manage your time to take and get everything you need to get done done in one day then you end up working yourself half to death.
    They don't tell you you need to plan a time to have fun with your family and friends, or that inspiration can hit especially when you are having fun with your family and friends carry a notebook. And don't switch out your family time for work because despite the fact that your work is important nobody ever said I wish I had worked more and spend less time with my family.

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