Annie Gibbins

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Surviving The First 12 Months In Business

We’ve heard it before, and we’ll going to hear it again, the first year as an entrepreneur can be the hardest. No doubt, you’ve the read the stats and facts than can bring on a cold sweat pretty damn fast, and every part of us wants to shut down the dream before it’s even started. Let me tell you, if you are feeling the stress, pinch, fear, overwhelm and have paced around your kitchen at 1am, dare I say, you are right on track. Over the years, we have heard the alarming percentages that 90% of new businesses are shutting-up-shop, before they’ve even made a sale. Erm, first fact fail. Actually, 75% of new businesses survive the first year, 69% survive the first two years, and 50% make it to five years. Sounds better already, right? I could write an entire book on the first 12-months on the pre-ladder, ladder, which I might one day. However, there are some fundamentals that you need to know from the get-go. Accept there is going to be some stress: Anything in life worth raising the bar for, is going to feel a little stressful. Afterall, your dreams are on the line. You are doing something new, something exciting but perhaps you’ve never do it before. Perhaps, no-one has done it before. Benchmarking new beginnings can be tricky. Just slow down, breath and believe that it all will be worth it. Cut yourself some slack: You’re going to make mistakes. It’s the most guaranteed part of starting a new venture. You are going to change your mind, tweak an idea, and question your resilience. All these feelings are normal, and perhaps give yourself a break or two. You are doing so well! You will want to bail, so hold your nerve: There are going to be bad days, good days and days where you will question your worth as an entrepreneur. Let me tell you, the biggest, bravest and leading entrepreneurs consider the long-term viability of a business. However, trust your instinct, and hold your nerve. You’ve got this! Quitting a plan, isn’t quitting the dream: Being flexible and versatile with an idea is key to adapting any new business dream. Learning what works, and what doesn’t is a crucial step in building a business.    

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Resilience: The must-have quality in business

Resilience is probably the tool (and emotion) that every business leader needs. Whether you are naturally resilient, or self-taught when it comes to pushing through barriers, this go-to character trait is a must. I’ve experienced moments in business when it felt like the odds were stacked against me. Afterall, passion is one thing, but guaranteed outcomes are another. So, when we can’t predict everything (because, humans), we can armour up and make a challenge into a triumph. Here’s how: Be Resilient: Resilience is the ability to bounce back after being knocked down. When we’re resilient, we don’t get knocked down easily. We can recover quickly and move forward. Being resilient means having the ability to adapt to change. If you want to be resilient, you need to learn how to deal with adversity. You need to develop the ability to cope with failure, disappointment, rejection, criticism, and loss. Learn From Your Mistakes: Mistakes are inevitable. But they aren’t fatal. Learning from mistakes helps us become better people. By learning from our mistakes, we become wiser and stronger. We gain knowledge and experience that we would not have gained otherwise. Don’t Let Fear Hold You Back: Fear is a powerful emotion that holds many people back. It causes us to freeze up and do nothing. Fear paralyzes us. It stops us from moving forward. Fear makes us think negatively about ourselves and others. It keeps us stuck in our comfort zone. Take Responsibility: Taking responsibility means accepting what happened and taking action to correct it. Taking responsibility means owning up to your actions. It’s not always easy to take responsibility, especially if you feel guilty. However, if you don’t own up to your mistakes, then you won’t be able to fix them. Keep Moving Forward: If you keep moving forward, you’ll never know where you’ll end up. If you stop moving forward, you’ll find yourself standing still. If you want to succeed, you need to keep moving forward. Focus On What You Can Control: When you focus on what you can control, you’ll be less stressed out. Focusing on what you can control frees up your mind and gives you more energy. It helps you stay positive and optimistic. Lastly, have Fun!: Have fun while doing things. Enjoying what you’re doing will make you happier than focusing on what you don’t like.’ Dream big, act bigger! 

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ABOUT AUTHOR
Annie Gibbins

Annie Gibbins is a passionate and purpose driven Fempreneur – a CEO, Global Women’s Empowerment Coach, Podcast Host, Speaker and #1 Best Selling Author. Her many professional accolades gained over 30 years forge across Health, Education, Corporate, NFP and Charity sectors drives her to inspire and EMPOWER WOMEN across the globe to achieve success in business and life. 

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