• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
  • Pinterest
  • Twitter
  • Facebook
  • Instagram
Home Jobs by MOM

Home Jobs by MOM

Insights. Ideas. Improvements.

  • Lifestyle Insights
  • Business Ideas
    • Online Tools for Bloggers
  • Improving Family Life
  • Contact
work-at-home, mom, WAHM, working at home tips

Steps To Take In The First Year Of Starting Your Entrepreneurial Venture

You are here: Home / Business / Starting a Business / Steps To Take In The First Year Of Starting Your Entrepreneurial Venture

THIS WEBSITE USES AFFILIATE LINKS WHICH MEANS WE RECEIVE COMPENSATION IF YOU PURCHASE A PRODUCT THROUGH THEM. VISIT OUR DISCLOSURE PAGE FOR MORE INFORMATION.

January 24, 2023 by Home Jobs By Mom
Pin9
Tweet
Share
9 Shares
Womaning taking notes working on laptop: Steps To Take In The First Year Of Starting Your Entrepreneurial Venture

Starting an entrepreneurial venture is a task in itself, and the first year could be the toughest. As per records, about 20% of small businesses never make it beyond the first year mark, and more than that do not make it beyond their fifth year.

So if you want the business to be successful in the long run, the first few years are of high importance. There is no recipe for success, but there are some steps you can take in order to ensure that your business goes beyond the one-year mark. Here are all the steps you should consider taking. 

Every business journey starts with a few small steps. Here are the ones you need to take in your first year as an entrepreneur. Click To Tweet

Have a work-life balance

thank you labels for entrepreneurial venture

The ultimate key to freedom is to be your own boss, but it is easier said than done. As a business owner, you will be wearing many hats, and it could become tempting to work all the time. Even when you take time off, you will feel the urge to check your emails or speak to your team.

But in the first year of an entrepreneurial venture, learn to maintain a work-life balance. This will ensure that your health, relationships, and work are in the right place. Do not make huge sacrifices for success. Do not work every hour of the day in the fear that if you don’t, the company will fail. There is nothing as good as handwork and commitment but maintaining a balance is more important.

When you take care of yourself, you also take care of your business. The balance will allow you to make the right decisions at the right time. When you push the mind and body to their limits, you are going to lose sight of the long-term goals.

If you can have the right balance, you will be able to make the right decisions and achieve key milestones sooner than you had expected. Spot the signs of burnout and work on it.

Look at the processes that will lead you to have a successful business

As a business owner, do not just set goals you would like to achieve. Instead, focus on what is in front of you right now.

Always take one day at a time and focus on the present moment. There is no need to rush the outcome but be aware of where you are right now.

Do not focus on the end goal but understand the process that will take you there. Take small actions every day because when you are building an entrepreneurial venture from scratch, the first year will be the foundation year, and it will need to sustain the company as you evolve and grow. 

Have a support squad for your entrepreneurial venture

No business can achieve success without its team. And if you are a solopreneur, the journey could be very isolating. If you do not have a co-founder or colleagues to rely on for support, it is important to have a solid network.

Build a support squad and navigate the challenges you are going to face. This will make a lot of difference to your business.

You can also join a network of entrepreneurs and meet new people there. Make an effort to build genuine connections and look for safe spaces where you can discuss your business and gain feedback. 

Know what works and stick to it 

In the first year of starting a business, it is important to get the word out. It could be tempting to switch courses in search of what can help your brand grow, but it is important to have the right marketing strategy and wait for it to work. You could have marquee signs at the right business events or invest in a digital marketing strategy.

Do not have too many marketing channels since it could be a huge problem when it comes to financing. Instead, choose one channel and focus on it. Stay consistent on your marketing plans and understand how it works for your entrepreneurial venture.

Not every marketing strategy will be suitable for you. Just pick the one that works for your business and industry, and then stick to it.

Never stop learning new business strategies

With each milestone, you will unlock new levels of success and new challenges. But this also means you get new learning opportunities. This means you need to follow your intuition and always have an open mind for new strategies that can benefit the business.

All entrepreneurs need to have the ability to pivot and look for new ways to do things. This is crucial for your business.

You need to be able to identify what will get you there and what will not. Learn to adapt to new ways and strategies of doing business if you want to run it more efficiently. 

Running a business is no easy job, but if you remain consistent and focused on your goals, it is possible to keep the business going for years. No successful business can be built overnight, and you need to put in the time and effort to see long-term results. 

Do you have any entrepreneurial venture ideas you can share with us?

Related Posts:

  • WAHM: Should Your Online Business Have Business Interruption Insurance?
    WAHM: Should Your Online Business Have Business Interruption…
  • 7 Tips for Starting an Essay Writing Business
    7 Tips for Starting an Essay Writing Business
  • The Best Home Based Business Ideas for Stay at Home Moms
    The Best Home Based Business Ideas for Stay at Home Moms
  • 6 Tips To Start Off Your New Clothing Business
    6 Tips To Start Off Your New Clothing Business
  • How to Open a Profitable Bar Business in 6 Steps
    How to Open a Profitable Bar Business in 6 Steps
  • Entrepreneur Checklist: What Bennet Schwartz Wants You to do Before You Launch Your Business Startup
    Entrepreneur Checklist: What Bennet Schwartz Wants You to do…
  • How Do Franchise Owners Get Paid?
    How Do Franchise Owners Get Paid?
  • The Ups and Downs of Starting a Home-Based Business
    The Ups and Downs of Starting a Home-Based Business
Pin9
Tweet
Share
9 Shares
Category: Business, Starting a BusinessTag: business startup, entrepreneurs, Small Business, starting your own business

About Home Jobs By Mom

Krystle Cook – the creator of Home Jobs by MOM – put her psychology degree on a shelf and dived into a pile of diapers and dishes instead. She is a wife and mother to two rambunctious boys, sweating it out in her Texas hometown. She loves cooking, DIY home projects, and family fun activities.

Previous Post:The Primary Advantages Of a Hybrid Work Schedule
Next Post:Homeowner Tips: 7 Ways to Increase the Value of Your Property

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sidebar

Welcome!

Get a look into a mom’s inkling into this crazy thing called life.

Read More

Recent Posts

  • Blogger Opp: Coned Edible Treats Giveaway #BloggersWanted
  • How To Stop Your Partner From Feeling Unappreciated in Your Relationship
  • February $100 Cash Giveaway (Ends 2/28) #valentinesday2023 #BTEvents
  • Coned Edible Treats Giveaway (Ends 3/7) @BakedBags
  • How to Create the Perfect Organizational Systems for Your Home
  • Pete & Pedro Mens Cologne Giveaway (Ends 2/14) @DeliciouslySavv @pandpbuenohair
  • EWin PRIME Fascia Massage Gun Giveaway (Ends 2/14) @goosegiveaways @ewinracing
  • Cirkul Happily Hydrated Giveaway (Ends 2/14) @SilvieArmas
  • 6 Creative Ways to Serve Mini Ice Cream Cones
  • Where to Buy Trendy Outfits for Women?

February $100 Cash Giveaway (Ends 2/28) #valentinesday2023 #BTEvents

Coned Edible Treats Giveaway (Ends 3/7) @BakedBags

Pete & Pedro Mens Cologne Giveaway (Ends 2/14) @DeliciouslySavv @pandpbuenohair

EWin PRIME Fascia Massage Gun Giveaway (Ends 2/14) @goosegiveaways @ewinracing

Cirkul Happily Hydrated Giveaway (Ends 2/14) @SilvieArmas

Pet Food Bowl Giveaway (Ends 2/20) @DeliciouslySavv @SpunkyJunky1

Pamper Your Baby Giveaway (Ends 2/20) @DeliciouslySavv @Baby_Magic

Rock Dog 3: Battle the Beat DVD Giveaway (Ends 2/14) @DeliciouslySavv

Enter More Giveaways!

Free Download

“Every day is another chance to get stronger, to eat better, to live healthier, and to be the best version of you.”

Productivity-Planner-Preview
Download the FREE Colorable Productivity Planner to get your life more organized. Sign up as a newsletter insider today!
Be a Better You!

  • Blogger Opp: Coned Edible Treats Giveaway #BloggersWanted
  • How To Stop Your Partner From Feeling Unappreciated in Your Relationship
  • February $100 Cash Giveaway (Ends 2/28) #valentinesday2023 #BTEvents
  • Coned Edible Treats Giveaway (Ends 3/7) @BakedBags
  • How to Create the Perfect Organizational Systems for Your Home
  • About Home Jobs By Mom
  • Terms & Privacy
  • Contact
  • Pinterest
  • Twitter
  • Facebook
  • Instagram

Copyright © 2023 · Home Jobs by MOM · All Rights Reserved

This website uses affiliate links which means we receive compensation if you purchase a product through them. Visit our disclosure page for more information.