When you tell your friends and family that you are going to become an entrepreneur, you will instantly get warnings and advice that you never asked for. Starting your own business is an exciting and anxious time, but it is a passion for many people. The passion for business is just one of the things that they don’t teach you in business school that you will need to learn on your own. As you get ready to hang up your company sign and fling your doors open to the public, there are few unwritten rules you need to learn first.
In Australia, the largest group of small business owners is between the ages of 35 and 54. People who are younger tend to work for other companies to learn their trade before opening their businesses and people who are older enjoy the fruits of their labours by selling their business and retiring. The one thing that they never teach you in business school is that nothing beats experience. Of course, the school isn’t going to tell you that because they want you to learn your skills in their institution first. But the truth is that you learn just as much, if not more, by working for someone else before you start your own business.
Another thing they do not teach you is to take risks. In the real business world, risks are part of everyday life. As an entrepreneur, you will take risks with:
• Managing your finances
• Adding new employees
• Releasing new products
• Taking on a new customer base
• Opening a new location
The truth is that risks are an essential part of success. If you don’t push the boat out into the water, you will never know if it floats. In other words, if you don’t take a risk, then you will never get to reap the rewards.
Getting an education is essential when it comes to being a successful entrepreneur. But it is the things that you will learn when you are not in school that will make you truly successful and happy with what you do.