Almost every entrepreneur that’s successful in their first business, eventually goes into another business. Almost every entrepreneur that fails in their first business, does the same.
A lot of fear goes into doing this. Everyone tells you what can go wrong, just like they did the first time around. You also think you have to learn a whole new business,and what could be scarier then that?
It took me a long time to realize that once you’ve been in a successful business, you shouldn’t be afraid to try something new. You don’t have to totally learn a new business, you already know 80 to 90% of what you need to know.
Every business has to deal with many of the same things; we all have bank accounts, accountants, lawyers, insurance, employees and the list goes on and on. All we need to learn is the new service or commodity that we’re selling. So if you realize that you already know 80 to 90% of what you need to know, that should take the fear away.
In my last blog I talked about isolating myself when I have situations that I can’t work out and taking time alone to try to work them out. Many times I came up with the answers I needed, but not always, sometimes you just need someone else to talk to.
We almost always think we’re alone in our first venture, but in reality, every other entrepreneur in their first venture is in the same position. About a year after I started my first business and looked like I was on my way to a heart attack, I got lucky and a very successful businessman gave me an idea that I used for years. He told me to find 4 to 6 people that were also in their first venture and try to get together every month. Every month one person would share what they were having the hardest time solving and that night’s discussion would be to give them as many different ideas as we could. We helped each other move forward through many situations that seemed impossible.
Remember, YOU ARE NOT ALONE.