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How to Start Your Business - 10 Week Challenge

Week 1 Challenge: Know your why and understand the reality of entrepreneurship

The biggest myth floating around is that people who quit their jobs and start their businesses make tons of money. You've heard some rags to riches story where a normal person gave up his regular job to pursue his passion to make millions of dollars.

While entrepreneurship is a thrilling experience, most people are unaware of the hardship that goes behind building a successful business. The grass always seems greener on the other side.

So for the first week, you have two things to work on.

  • Be clear about your goals
  • Understand the reality of entrepreneurship and know what you're signing up for

Be clear about your goals:

You must know why you want to start your business. While making money is one obvious reason, you need to have a stronger reason than just the bucks. Read the article - 3 questions to help you be clear about your long term goals and complete the exercise to dive deep into your soul.

Understand the reality of entrepreneurship:

Do not assume that your journey of entrepreneurship will be full of unicorns and rainbows. Along with your triumphs, you will go through tough moments that will challenge you at different levels. Signing up for entrepreneurship without knowing the difficulties is like jumping into the ocean without knowing to swim.

Knowing the challenges in advance saves you the trouble of stress and helps you make better decisions. To develop the understanding, read the article - 9 steps to quit your job and fulfill your dream. Do not follow the steps for now but understand what might be in store for you.

In addition, read the book - The EMyth Revisited. It outlines the classic mistakes which a new entrepreneur makes along with advice on how to avoid them. If you have no experience in running a business before, you must read this book before you take the first step.

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