If you want to undertake, you need to take into account a number of difficulties that you will encounter throughout your life as a leader. These generate stress that you will have to manage to control so as not to end up in burn out. Here are the main ones you will have to learn how to manage.
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Cash, the nerve of war
If there is a great difficulty encountered by many leaders at least in the early years but which can long last, it is indeed this one. Difficulty paying your suppliers or making you pay by your customers, reaching the dead point, investments… It is rare to have several months of cash and therefore you will have to do it daily. This often involves negotiating with your suppliers, knowing how to revive your customers, see with URSSAF, taxes or retirement. In short, a heavy difficulty for an overwhelming majority of business leaders obliged to give the maximum every day for the company to survive.
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Management, not so easy
You may be a born manager but most of the time you will make many mistakes and you will find it difficult to motivate your teams sometimes. Recruitment error, lack of know-how or difficulty finding talent are all difficulties you will have to learn how to manage. You will have to constantly improve and maintain team spirit. It is not just about giving missions so that they are executed as you would like. Do not hesitate to train yourself if it is not the case or to delegate recruitments to more competent people than you. Casting errors are legions and entrepreneurs find themselves with numerous prud’hommes. Make sure you’re doing everything right in the legality.
The commercial, especially in the hard
If you have not done commercial training, you will soon learn that this will be one of the great difficulties. You will often be forced at first to do it yourself. This is one of the steps that many business leaders cannot overcome. Early customer confrontations can deter you from continuing the adventure as they may not react as well as you thought. You will have to learn how to convince and structure the whole process at first. If it is not oral, it will be written or through marketing campaigns for example. In any case, the customer only rarely comes on its own. Training courses are also available in all areas such as management.
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The association, to manage well
Associate conflicts are plethores in entrepreneurship. It is also one of the leading causes of death for companies. They can be due to a difference in vision or simply fatigue. The many topics to address and the uncertainties should make you think deeply about the people you want to take on the adventure. Don’t forget to define all the rules and roles right from the start. You need to determine who slices and try to lay good bases for communication. The atmosphere can quickly turn into a nightmare if it is not and you end up in a dead end.
Endurance, an essential quality
You will accumulate hours and hours so as much as mentally prepare yourself for it. If you have to go fast, you will also have to perform on time. Resistance to fatigue and stress is essential in Entrepreneurship. Exit the 35 hours and place at 70 hours poorly paid at the beginning. Entrepreneurship is often compared to a marathon more than a sprint. You will never lose your motivation and you will have to know how to resist the various pressures. Nothing ever happens as expected and you must be the carrier column of your company.
Pivots, not easy
It is common for a company to rotate and change business model or product. If this sometimes seems to jeopardize your entire vision, be aware that this is normal. The more you advance in the adventure, the more the number of elements will grow. Technological novelties will most likely change your business and you will have to adapt to it. Your ability to pivot and not lose your teams along the way is essential. Pivots represent crucial moments that go strongly to you disturb and for good reason, you go to the unknown.
Urgency, all the time
It is funny to see how urgent business leaders are facing. This one takes place a little all the time and it’s normal! Because if you have nothing more to do, you will find new ways to develop yourself. Unforeseen happens all the time and sometimes are not very pleasant: customer complaint, non-delivery of a product, illnesses of employees, forgets, bad customers,… Emergencies can come from everywhere so get used to knowing how to lag.