4 Huge Things Entrepreneurs Have Learned the Hard Way (So You Don’t Have to)

3 min read • Jan 11, 2016 • Erik Larson

As a business owner or entrepreneur, you’ll often head in to some unknown territory. This in fact, is what keeps you going, turning nothing into something, and continuing forward. Without a doubt you will learn a great deal of things along the way and mistakes will happen, hopefully small and not large.

“Would it be nice if you didn’t have to make some of those mistakes?”

This would save yourself time, money, not to mention stress, so you can focus on what really matters – the importance of growing your business.

Let’s examine a few of the common things that all entrepreneurs seem to learn the hard way so hopefully you won’t have to.

#1 If You Build It, They May Not Come

“If you build it, they will come.” This line may have worked for Kevin Costner’s character in Field of Dreams, but this advice is not practical in the startup world. Unfortunately, just because you have built a website, doesn’t mean people will know about it.

You could simply wait and hope that one day Google will start to show your site in the search results after doing some minor SEO tweaks, but that could be a very long time. Even after that time, there’s no guarantee you will even show up in the Google search results for the terms you want because the market is so competitive!

A perfect way to avoid this mishap of building something and they will come is to develop a strong marketing strategy from the get go.

Start the marketing strategy in the beginning stages of setting up a landing page. It could be as simple as sharing your page with family and friends. You don’t need to take months of planning to get something built and to start getting people to come.

#2 Ideas are Worthless Without Execution

An idea is just that – an idea. You though Mark Zuckerberg had the idea for Facebook? Wrong. I had the idea many years before he did as did thousands of others I’m sure). The only problem is I didn’t do anything with it.

You may have an idea for something that could potentially result in millions of dollars, but how would you ever know without actually building it to find out? You need to make something out of that idea. Take it and execute upon it.

#3 As Most Entrepreneurs – You Are Your Biggest Competitor

Don’t get me wrong, spending an afternoon doing nothing besides Netflix or HBOGO can be a treat in itself.

But every time we jump to the next episode or hit continue watching after blazing through a numerous amount before that, will be wasting valuable time. We are simply letting our competition (laziness) beat us. As a result, others who aren’t being lazy are making strides to obtain their goals.

I am not saying don’t watch TV or Netflix, in fact, I would recommend it as a way to unwind. I would make it a form of delayed gratification; a productivity strategy that highly successful people have been known to implement into their daily routine.

Reward yourself with an episode of your favorite show after the work is done.

#4 Get Your Small Business Loan When The Getting Is Good

It’s really easy to wait until you need it to get a small business loan, but you’re much more likely to get a good loan at a good rate if you get it while your business is in good shape. When your business is humming and the outlook is bright, take the time to get a line of credit or a loan to grow with. You’ll be glad you did.

Now that you know some of the main things business owners and entrepreneurs learned the hard way, you can now apply these to your own. While you’re at it, check out this great motivational video. The main point of this is simply to just do it. Your dreams can come true if you don’t let yourself get in the way.


Erik Larson

Erik Larson frequently writes for Lendio about SEO, Digital Marketing, Social Media Marketing, Business Loans, and whatever else strikes his fancy. He can be found on Google+ and Twitter.