Which Type of Entrepreneur Are You And What’s Your Biggest Challenge?

Life’s too short to learn from your own mistakes. Learn from others.

Every entrepreneur faces moments of doubt, exhaustion, and uncertainty. First-time founders, side hustlers, and small business owners constantly navigate the ups and downs of entrepreneurship. Whether they are launching their first startup, grinding through a side hustle, or scaling past a plateau; mindset shifts and motivation is needed to keep pushing forward.

Here are the top 5 Challenges Entrepreneurs face. As you review these characteristics, which can you identify with the most?

1.The First-Time Founder (0-2 years in business)

Characteristic: Everything is new, scary, and overwhelming. They’re discovering that entrepreneurship is 10 times harder than they imagined. Every setback feels like potential failure.

What they’re dealing with:

  • Imposter syndrome at peak levels
  • No roadmap or proven process to follow
  • Financial stress and uncertainty
  • Isolation (left their corporate network behind)
  • Constant self-doubt about their decisions

How to Stay Motivated: “You’re not alone in feeling this way.” Know that “It gets easier as you learn”

2.The Side Hustler (Building while Employed)

Characteristic: They’re living a double life. They are exhausted, stretched thin, and constantly questioning if they should quit their job or give up the dream.

What they’re dealing with:

  • Working 60-80 hour weeks between job + business
  • Guilt about time away from family
  • Progress feels painfully slow
  • Watching others succeed faster
  • Energy depletion and burnout risk

How to Stay Motivated: “Your pace is valid” + “Every hour invested compounds”

3.The Struggling Scaler (Stuck at a revenue plateau)

Characteristic: They’ve proven the concept works, but can’t break through to the next level. The excitement has worn off, replaced by grinding frustration.

What they’re dealing with:

  • Revenue flatlined for 6-12+ months
  • Doing everything themselves (can’t afford to hire)
  • Comparing themselves to “overnight successes”
  • Questioning their business model
  • Burnout from working IN the business vs ON it

How to Stay Motivated: “Plateaus are part of growth” + “Breakthrough is closer than you think”

4.The Solopreneur (No co-founder, no team)

Characteristic: They make every decision alone, celebrate wins alone, and face failures alone. The loneliness is crushing.

What they’re dealing with:

  • Decision fatigue (no one to bounce ideas off)
  • Wearing every hat (CEO, marketer, accountant, customer service)
  • No one to catch them if they fall
  • Feeling like giving up but having no one to hold them accountable
  • Craving validation that they’re on the right track

How to stay Motivated: “Your independence is strength” + “Solitude doesn’t mean you’re doing it wrong”

5.The Comeback Entrepreneur (Failed before, trying again)

Characteristic: They’re carrying baggage from past failures. Every challenge triggers memories of “what happened last time.” They need courage to keep going despite the scars.

What they’re dealing with:

  • Fear of repeating past mistakes
  • Judgment from people who saw them fail
  • Financial pressure (often starting with less capital)
  • Self-trust issues (“Can I actually do this?”)
  • Imposter syndrome amplified by previous failure

How to Stay Motivated: “Failure was data, not destiny” + “Most successful entrepreneurs failed first”

Honorable Mentions:

  • The Mid-Life Career Changer: Left stability for uncertainty, facing age discrimination and “what have I done?” panic
  • The Minority/Underrepresented Entrepreneur: Fighting systemic barriers while building, needing validation in spaces that don’t always welcome them
  • The Post-Pivot Founder: Had to abandon their original idea and start over, grieving the old vision while building the new one

Which did you identify with most? Deeply reflect and if you need help, let’s connect.

Otherwise, gift a copy of 101+ Empowering Quotes to the entrepreneur in your life. It’s available in eBook, paperback, and hardcover formats, all under $20. It’s the thoughtful gift that fits in a stocking and inspires all year long.

What makes this gift special? It’s genuinely useful. Unlike generic presents that collect dust, this book becomes a go-to resource on tough days. The portable size fits perfectly in stockings, bags, and on desks. And at under $20, you can afford to gift it to your entire network of entrepreneurs, coworkers, or team members.

Give the gift of daily inspiration. Give them the reminder that they’re not alone in this journey.

What’s The Perfect Door Prize? 21 Gift Ideas for Networking Events That Shine

Show up. Let yourself be seen. ~Brene Brown

What’s a networking event without door prizes? Boring (smile). So, event organizers encourage gifts. They are a simple yet powerful way to boost engagement, excitement, and attendance at networking events. They create a sense of the anticipation and fun, making the event more memorable for participants. Door prizes also encourage people to arrive on time, stay longer, and interact more freely with others. Besides entertainment, they offer a subtle marketing opportunity for sponsors, hosts, or businesses to showcase their products or services in a positive light.

The PSL Business Club asked the question: What is the Perfect door prize to give away at networking events?” Members chimed in. Some suggested giving what you would like to receive. Others suggested giving away high-end gifts that will make you the talk of the event. Gift these over several periods and you’re sure to leave a lasting memory. Here I share key gift ideas extracted as members chimed in.

Gifts That Shine

  1. Wellness bundle energy drinks
  2. Journal, fun pen, small devotional or motivational card set
  3. Cute mugs which says “let’s connect over coffee”
  4. Pair a small gift care ($10-$15) with a handwritten note or business card enclosing a product sample
  5. Branded item that’s actually helpful
  6. Gift cards to local restaurants.
  7. Something useful like Coffee gift cards
  8. Wine or Vodka
  9. Dark chocolate and a gift card or voucher to try branded services
  10. Cool shirt
  11. Stanley or Yeti cup
  12. Gift baskets
  13. Branded swag bundle from the host company
  14. Branded items or one/two from local businesses or gift certificates
  15. Candy
  16. Homemade cookies
  17. Hand-painted items
  18. Chocolates from a chocolatier
  19. Beach accessories
  20. Fun items that’s non-business related
  21. Dot card… to make sharing information easier at networking event

High-End Gifts

Higher end gifts creates a lasting memory of your brand. Such gifts are:

  • Massage or Spa packages
  • Weekend getaway at hotel
  • Dinner for two at a high-end/classy restaurant
  • Tickets to a concert/play

There you have it! Here’s hoping it takes the guess work out of your gift giving when attending your next event.

Monetize Your Writing Skills: 10 Proven Methods

Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. ~William Arthur Ward

Are you a writer living from paycheck to paycheck? Do you want to take that dream vacation but your pocket dictates otherwise? You may just want to purchase that long desired goal but can’t seem to come up with the funds. Well, why not try to boost your income creatively? Here are 10 methods that can turn your talent into money in a flash (legally of course – yikes)!

1.Freelance Writing Platforms

Sign up for sites like:

  • Upwork
  • Fiverr
  • Freelancer
  • PeoplePerHour
    Start with blog posts, bios, product descriptions, or email copy. Quick turnaround = faster pay.

2. Offer Resume & Cover Letter Services

Tons of people need help polishing their resumes. You can charge $50–$200+ depending on your expertise.

3. Sell Digital Products

  • Create and sell templates (journals, planners, ebook templates) on Etsy or Gumroad.
  • If you’ve already written a book, turn it into a workbook or checklist.

4. Pitch Articles

Submit articles to platforms that pay per piece:

  • Medium (via Partner Program)
  • Narratively
  • The Bold Italic
  • Listverse
  • Cracked Some pay $100+ for accepted content.

5. GHOSTWRITING

Offer ghostwriting for blog posts, social media captions, or even eBooks. It’s in high demand, especially for coaches and small businesses.

6. Edit or Proofread

Writers are great editors! Offer fast-turnaround proofreading on Fiverr or Facebook groups.

7. Write LinkedIn Profiles or Bios

Professionals always need help optimizing their online presence.

8. Transcribe Audio for Creators or Podcasters

Great for fast typers. Websites like Rev or TranscribeMe pay per audio minute.

9. Offer Email Newsletter Setup / Writing

Many small biz owners want to start newsletters but don’t know where to begin.

10. Monetize a Blog or Substack Fast

Offer a mix of free content and a paid tier with extra goodies (writing tips, coaching, behind-the-scenes, etc.).

Did any of the above spark your interest to boost your earning potential? Any missing that you would like to add? Do share. We would love to hear.

Cheers!

9 Investment Strategies For New Entrepreneurs On A Tight Budget

Don’t get distracted. Never tell yourself that you need to be the biggest brand in the whole world. Start by working on what you need at the present moment and then what you need to do tomorrow. So, set yourself manageable targets.

Jas Bagniewski

20% of new startups fail within the first year of business. This can be scary for first time entrepreneurs. So, the more prepared small businesses are, the more they can survive especially as it concerns making bold marketing steps which require some upfront investment. That said, here are some ideas to counteract those costs for a new business owner on a tight budget:

  1. Leverage free platforms – For example, start a free blog, post on LinkedIn, use free webinar services, publish a podcast using free hosting.

2. Barter services – Exchange things like hosting an event or providing content in return for exposure from partnerships.

3.Get sponsorships – Seek sponsorships from vendors/partners to help fund events, ads, giveaways. Offer sponsor visibility.

4. Use DIY options – Design your own simple website, create your own flyers, give free talks at local libraries versus paid venues.

5. Offer packages – Offer bundles and multi-session discounts to incentive larger purchases to increase revenue.

6.Be guest instead of host – Guest blog, speak at other events instead of funding your own. Reduces costs.

7. Tap into your network – Ask connections to share content, provide referrals, submit testimonials, write guest posts.

8. Focus locally first – Start by promoting heavily just within your local community to establish proof of concept.

9. Only invest where needed – Don’t overspend on unnecessary items. Prioritize money only where it will derive direct value.

Essentially, the goal is to maximize existing free resources and opportunities where you can exchange services. The aim is to become creative in order to access cost-effective resources until you gain proof of return on investment, then you can increase spending.

Which of the methods have you used? Can you add another method that has proven helpful? Do share. We would love to hear.

Cheers!

New Entrepreneurs Growing Pains: 5 Factors To Consider

Entrepreneur Growing Pains

Joy was excited about launching her business and she did! Now six months later, she has been finding it difficult to survive financially. With rising debt and living expenses, she is unable to make ends meet. She reached out for coaching to tackle her inner stress while pondering if she had made a mistake.

This situation is common to many first-time entrepreneurs. Statistics show that many small businesses fail during the first year. Most ponder giving up or staying the course. The decision between working on their new business or getting a job often depends on various factors. Here are a few:

  1. Financial Stability: If an entrepreneur’s financial situation is precarious and their business isn’t generating immediate income, getting a job might be necessary to cover living expenses and support the business financially.
  2. Business Stage: Early-stage businesses might require time and effort before becoming profitable. In such cases, working on the business while having a part-time job or a source of stable income could be a feasible option.
  3. Learning Curve: New entrepreneurs might benefit from working in the industry they’re entering. A job can offer insights, experience, and networking opportunities that can be invaluable for their business.
  4. Time Commitment: Running a business demands a significant time commitment. If the business requires full-time attention to get off the ground, working solely on the business might be necessary initially.
  5. Risk Tolerance: Some entrepreneurs prefer to dedicate all their time and energy to their business, even if it means financial strain initially, while others might opt for a more gradual approach to reduce financial risk.

In many cases, a hybrid approach—working part-time or freelancing while gradually growing the business—can strike a balance between financial stability and business development. It allows entrepreneurs to sustain themselves while dedicating time to their entrepreneurial venture.

Ultimately, it’s crucial to assess individual circumstances, weigh the pros and cons, and make a decision that aligns with both the financial needs and the growth potential of the business.

Are you a new entrepreneur experiencing first year growth pains? Which of the above will you adopt and apply to your situation? Are there any others that you have considered? Do share. We would love to hear.

Cheers!

Elevate Your 2024: Join Our Exclusive Goal Setting Retreat!

Grab a Friend and Get ready to level up 2024 at the Goal Setting Retreat, where we’ll dive deep into setting & crushing your goals while enjoying fun.

Get ready to level up 2024 at the Goal Setting Retreat, where we’ll dive deep into setting & crushing your goals while enjoying fun.

2024 Goal Setting Retreat for Empowered Leadership

Buy One Bring a Friend 50 Percent off and join us for the 2024 Goal Setting Retreat for Empowered Leadership! This intimate small group in-person event will take place on Saturday, November 4, 2023, starting at 9:30 AM (EDT), at the lovely Hutchinson Island.

Are you a seasoned corporate Leader, professional, entrepreneur or desiring a change to take your career to the next level? This retreat is designed to empower and inspire you to set ambitious goals and achieve extraordinary results. Whether you’re a seasoned leader or just starting out, this event is for you!

OBJECTIVES include reflection & assessment; defining your vision; goal planning & strategy; overcoming challenges and staying motivated; tracking progress and adjusting.

During this retreat, you’ll have the opportunity to connect with like-minded individuals, learn from experienced mentors, get clarity and valuable insights into effective goal setting strategies. Gain insights from shared personal experiences and get practical tips to help you unlock your full leadership potential.

Get ready for a day filled with interactive, engaging discussions, personal reflections, learning stories from the field, networking opportunities, and rejuvenating fun on Florida’s sun, sea, and sand. You’ll leave feeling motivated, energized, and equipped with the tools to create a clear roadmap for success.

Don’t miss out on this incredible opportunity to invest in your leadership journey. Reserve your spot today and get ready to set yourself up for a successful 2024!

PS: Does not include Hotel Accommodation

3 Ways To Network With A Purpose…

It’s the people we hardly know, and not our closest friends, who will improve our lives most dramactically.

Meg Jay

Stimulating interview with Executive Coach, Founder and CEO of Soft Skills Services, Maxine Barnett. In it she shares successive nuggets on effective networking for new entrepreneurs and professional desiring to build their personal growth.

Strategies For Effective Networking

Here are three strategies:

  1. Be prepared to meet 2-3 persons while attending the event.
  2. Make a connection. Introduce yourself using your elevator speech and be present during your conversation.
  3. Follow-up within 2-3 after the event to remain top of mind with your new strategic connection.

Networking is a soft skill–a people skill needed for business and people purposes. It is useful for purposeful growth. Be intentional about it. View the full conversation here.

What are your thoughts on networking? Do share, we would love to hear.

Cheers!

What is Your Biggest Fear?

Dr. Shelly's avatarSuccess Strategies

I love nature and always choose to live near a lake, pond or stream. What comes with that is nature’s creatures like squirrels, ducks, and my worst fear –lizards! My fear of them makes me search to find them before they sneak upon me. My imagination runs wild as I think of their creepy, crawley features that makes me real scared. Mind you, it has not happened but my fear, like Cusps, makes it real to me…yikes!

Aren’t we all afraid of something? We sure are. But what is fear? Why are we afraid?

FEAR is an unpleasant emotion caused by the belief that someone or something is dangerous, likely to cause pain, or a threat.

What is Your Biggest Fear as an Entrepreneur?

Daymond John asked the question of entrepreneurs “What is your biggest fear?” The answers varied but most common were:

  • Getting taken advantage of by…

View original post 105 more words

New Entrepreneurs. The Goals And Dreams Carried…

Dr. Shelly's avatarSuccess Strategies

img_2865.jpg

For the months I carried you, growing inside of me...

For the months I carried you growing inside of me… Entrepreneurs  know the travails of starting and growing a business. The challenges associated with carrying a business from incubation to reality. It’s no easy task.

Career transitions, college students, and goal seekers all know how difficult it is to carry the burden of studies to get to the finish line. It’s no easy task.

Parents know how difficult it is to bear the burden of the change in lifestyle as a newborn is expected. It’s no easy task.

Let’s not forget authors whose stories became known from a dream, to a thought, to a page, to a book. Published! It’s no easy task.

So it is with whatever we put our minds to. Whatever we decide to do from idea, thought, dream, goal… it is not going to…

View original post 117 more words

Busy Is Good…

A life spent making mistakes is not only more honorable, but more useful than a life spent doing nothing.

George Bernard Shaw

Dr. Shelly's avatarSuccess Strategies

Busy is good. That’s my favorite response to entrepreneurs who express that they are busy.

You see, we have all been there when there is nothing to do. No job. No contract. No financial inflow. What frequently follows is sadness, apathy, boredom, inability to meet financial obligations and the list goes on. For sure that ain’t good for our mental state and wellbeing.

Among Others

An 80-year-old grandmother was busy going to the gym, church, shopping, Medical visits to the doctor. Those activities kept her busy. It made her feel alive. Then suddenly her husband also retired. Now they both sit at home watching golf, tennis, jeopardy and wheel of fortune on TV. This past weekend she spent time in the hospital. Latency had stepped in.

The Deal

That’s what happens when we are not busy. It happens to entrepreneurs, workers, student or retirees. There’s no respect of persons.

For…

View original post 68 more words

6 Top Things Aspiring Entrepreneurs Should Do in 2022

Authored By Nicola Reid

If you’re one of the many millions of people hoping to start a new business this year, congratulations. This is a journey that you will never forget. There are many twists and turns down the path toward entrepreneurship, and your actions now can make it a much smoother process in the days ahead. Today, the Success Strategies blog touches on a few things that all aspiring entrepreneurs should do when starting a business in 2022.

1. Evaluate Yourself

First and foremost, you have to evaluate yourself. Do you really have what it takes to be an entrepreneur? According to Alcor Investment Services, entrepreneurs don’t procrastinate and are continually solving problems. If you are the type of person that makes plans and takes action on them, you might be a great candidate for entrepreneurship. In addition to these “soft” skills, you should also be at least somewhat versed in marketing, financial management, and customer service.

2. Decide on a Business Structure

Business structures are not just for major corporations. As a small business owner, you have the right to form your own entity. Doing so now can help legitimize your business. Consider filing as an LLC, which is a limited liability company. There are many advantages here, including lower taxes and reducing the possibility of your personal assets being targeted in case of a serious business flaw. You can use a local attorney or an online formation service, though the latter is much more affordable than the former.

3. Utilize Free Tools and Services

Even when you’re a small business, you must be prepared to break out your wallet (more on the financial commitment later on). However, that doesn’t mean that you can’t get some things without writing a check. You can use Google Docs to collaborate with your employees and customers and you can even find an image size converter online that allows you to upload photos to your website and social media. Although it might seem like a small thing now, fewer pixels in your images will make your site load faster, which can increase the amount of time customers spend on your domain. Search Engine Journal acknowledges slow load speed as the number one reason that people move to a different website.

4. Stay Motivated

As an entrepreneur, you will experience successes and failures. It is during these failures that you must remember to stay motivated and never give up.

5. Understand the Financial Commitment

Starting a business is a huge financial commitment, and many small business owners are unprepared for the sheer number of checks that get written each week. Remember, you have not only your startup cost but also business filing expenses, taxes, payroll, inventory, and more. Although this might sound like a lot, don’t despair. There are plenty of deductions you can take, especially if you use your home as your office. CPA Mark J. Kohler notes that you may even be able to deduct part of your vehicle expenses as a home-based business owner.

6. Strategize

Running your business means prioritizing everything every day. One thing you cannot forget is to pay attention to your customers and the competition to find out what they want. To do this, you will need to do market research and implement a product roadmap when you are ready to launch something new. Use a template (another potentially free online service) that helps you set deadlines and understand where you may have trouble in the process. Having your product launches mapped out ahead of time will help you prioritize and set more reasonable goals.

Launching your own business is one of the best ways to create wealth for yourself and your family. Although it may seem intimidating now, trust that you will soon have the experience to navigate the world of entrepreneurship with your head held high. Remember, no one ever got rich working for someone else, and your fears are the only thing stopping you from mapping out your own path toward success.

About The Author

Nicola Reid is an entrepreneur and small business owner from Texas. She created Business4Today.com to provide access to the resources members of marginalized groups need to turn their entrepreneurial dreams into reality. Through her site, she hopes to support the growing number of people of color, women, and members of the LGBTQ+ community who are taking the leap into small business ownership.

Photo by MART PRODUCTION on Pexels.com

Entrepreneurs Speak…

Dr. Shelly's avatarSuccess Strategies

What’s the Biggest Lesson Learnt in the Last 12 months?

The question was asked of entrepreneurs and business owners. What is your biggest lesson learnt in the past 12 months? More than 1,300 individuals replied. I’ll share excerpts.

  • You’ve gotta push beyond your comfort zone
  • Just do it. Don’t think too much, and don’t let your fear overcome you and stop you from taking the step
  • Money is just an illusion
  • Humility
  • Gratitude
  • Appreciate and value people in your circle
  • Patience
  • We become what we think
  • Don’t trust people
  • Reduce your debt. Dont borrow to buy luxury
  • You are responsible for everything, including most importantly yourself
  • Life will hit you with a brick on the head at the most unexpected times. Don’t panic, stay positive, and move on.
  • Focus on what’s ahead
  • Don’t be afraid of changes
  • Stop being a people pleaser
  • Read, read, read
  • Time waits for no one…regrets hurt…

View original post 169 more words

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