19 Lessons Learned from One Year of Entrepreneurship

On Jan 20th 2023, I celebrated my one-year anniversary as an entrepreneur, with a slice of 5-pepper pizza in hand.

In awe. In shock. And in peace.

Yes, somehow these 3 completely unrelated emotions mixed up in a murky puddle.

There was a sense of relief, too.

As a pessimist, I used to have nightmares about crossing the one-year barrier and being broke. And especially was terrified of the **imaginary and real** taunts from friends and family.

During my early months, I used to be ultra-cautious to even order food. I had about 8 months of savings, but even then, with every rupee (Indian currency) going down in my bank account, my heart rate used to increase.

Because of these fears holding me back, I always had a Plan B until November - go back to corporate if things didn’t work out. Like I was petrified to even try because I was afraid to truly fail.

The relief and peace were from… I did not feel those fears anymore. Suddenly, everything turned off like a switch. My plan B diminished too.

The 1-year mark does something to your brain, I think.

Gives you the confidence that you can do anything in this world, and you won’t go homeless (drastic much? I don’t care).

The first year of entrepreneurship is the biggest self-improvement journey anyone can take. No one actually explains this before you quit the job, but it’s true. It teaches you ‘gem-like’ life lessons that’ll always stay with you.

It’s beautiful. It’s magical. And it’s heartwarming.

For this week’s edition of Your Business, Your Way, I wanted to share the 19 most crucial lessons I learned this year. I genuinely hope they give you a better perspective and confidence that things will be okay.

Let’s begin!

1. It doesn’t matter how bad you did in school or college.I was always below average throughout my school, college and corporate job, like I never fit in. This had a serious impact on my confidence and I was terrified becoming average in my business venture too.Trust me, it doesn’t matter.Because none of the institutions gives you a chance to truly amalgamate your different strengths and create a niche of your own.

2. You are good enoughI think we can relate this to the first point. Tapping into your unique strengths gives you an extremely unexplainable confidence. That no one can deter, even if they tried their best to.

3. You’re not working for your client. You’re working with them.This shift in mindset creates a huge ass change in your brain. The way you present yourself, communicate, and set your boundaries… everything changes. And makes you feel empowered.

4. Your personal brand mattersIt’s easy to hide behind already established corporate brands when you’re working for them. It gives you instant credibility, which you otherwise don’t have when you start out. Work on it. That’s what builds trust with your audience.

5. Create a work life balance that works for youThe typical notion of work-life balance is bullshit. The thought that the entire world should work a particular way? Why?? Figure out what works for you. Find the time you’re able to focus best and go with your inspiration. For e.g.: I work in extremes. Sometimes I have 13 hour workdays, and for the next 2 days, I hardly work:)

6. Find your own nicheYour niche is you. Create your own concoction with your strengths, passions, values, and more. Because no one can replicate you. I learned that the hard way, after trying to fit into other people’s visions and shoes.

7. You have to work 10X harder for people to trust you when you're a solopreneurBut it's soooo worth it! You’ll value people’s trust, become more empathetic and you respect money more. Nothing could compare the feeling of me earning 6 figures in my corporate job to my first $500 from a client.

8. Quick fixes don't workIn my first year of leaving my job, it was so easy to get bogged down by tweets/courses/cohorts screaming: "Get to 6-figures in 6 months!" That's pure bullshit. Please don't fall for them or get envious. Because you never know what's happening behind the scenes.

9. Relationships with the right people are the most crucial.I wouldn't be here if not for the friends I made on this tremendous journey. They pulled me up when I was low, supported me, & cheered me on Some even became clients!Build your tribe. The world will be a better place.

10. You need to put yourself out there every day. If not, you'll fail.By this, I don't only mean content. I mean getting ready to talk about what you do passionately every single day.Approaching people & pitching them if needed without fear. Getting dirty in mud to do the work.

11. There’ll be a drastic increase in your confidence.When we work in a 9 to 5, we always have someone to tell us what to do. But you don't have that here. So while you'll have tons of frustrating months, you'll slowly start trusting your gut and decision-making skills. It'll be okay:)

12. Not everyone will support you.That's the hard truth. Especially, your family might not understand your passion or purpose. You might get some harsh comments too.Stop caring & keep going towards your goal. Hopefully, when they see you succeed, they'll support you (or not).

13. The emotional sinusoidal wave is real.Someday, you'll feel like conquering the world. On others, you'll feel like quitting and hiding under your bed. You'll experience elation and defeat within moments of each other.And no, this feeling won’t vanish over time.

14. Your health 'might' deteriorate.In the 1st year, we're still finding our balance so you'll often overwork, thus not focus too much on health. Don't worry, as time goes on, you'll find your balance too.On the other hand, you can also work lesser & have great health.

15. Invest in education.Soon you'll learn you cannot get everything for free. There's only so much you'll get from videos, books, or podcasts. You have to invest in CBCs, coaches, and mentors to up your game.I know it can be terrifying, but you’ve to trust yourself. I know how hard it was for me paying $500/month for a coach. But it’s the best decision I ever made.

16. Your money mindset will change drastically.Soon you will take bolder steps with money because of 2 main factors: - You'll realize that you cannot be any other way. Your desperation will force you to either seek help or quit - You'll start believing

17. Remember: the light is always after the darkest darkness.You'll feel like quitting. You'll feel you can't move on. You'll be terrified of failing and scared of what people would say.Keep going. Keep going. Keep going.You never know when the light will shine on you. I’ve had so many times when a random person has helped me in my darkest times. People will help you too.

18. It's going to be the biggest self-improvement journey you've ever taken up.You cannot ever compare your first-year learnings to any college degree or even 5 years' worth of corporate learning. Every day will be a new lesson. And every conversation will change your perspective.

19. Create a business that works for you, instead of creating a business first and then fitting into it.Most people quit their jobs with dreams in their eyes. But within the first year, they end up with the same frustration but a different box. This is because of the intense friction you create of not digging deep into what you want and pursuing it.

20. Stop thinking like corporatesFor example, if you’ve worked on marketing teams, and want to do it on your own as a solopreneur, the formula will be completely different. You cannot exactly implement tasks like you did there because the size of the company is different too. Like ultra-fancy website when you don’t have even one client is useless.

I know jumping from 9 to 5 to entrepreneurship is hard. But it’s the best decision you can make if you want to live on your dreams (if entrepreneurship is not your goal, that’s okay too!).

I hope the above points gave you some insight into your upcoming journey. If you’re someone who’s planning to make the switch and want someone to talk to, feel free to ping me on Twitter. I’ll do my best to support you as a friend. Entrepreneurship is lonely, but it needn’t be:)

Until next time,Shruthi

P.S: I wanted to apologize for missing out on last week’s edition. I didn’t expect it to happen within 4 weeks of starting the newsletter. But… it just didn’t feel right, even if I rewrote the piece some 100 times lol. I know that’s no excuse, but I’ll plan it better from next time. Thank you so much for your patience:)