Success Lifestyle Magazine Issue 6- October 2019 | Page 14

Loan equals debt while equity equals lost
ownership. Find out more about the
funding option that works best for you in
The Business Playbook. Click here to learn
more. Regardless of the financing option
Expert Knowledge
Emotional/Psychological
Support
The independent path of entrepreneurship
may seem glamorous, but it also has its
The process of starting a business can take
downsides.
Working
alone
and
you on a roller coaster ride. In fact the
representing your own brand can cause a
pressure to avoid failure has a negative
you choose, ensure that you critically
lot of strain on your mental health.
impact on an entrepreneur’s psyche. You
analyse the business prospects and select
Anxiety, depression, and stress are just a
may face the emotional challenges of
the best way forward.
few side effects of entrepreneurship.
loneliness, fear, or anxiety at various stages
Therefore, it is important to have someone
of business growth. Don’t be afraid to
who can provide guidance and advice as
Physical
support
includes
human
consult a psychologist or pastor you trust to
you develop your business. Consulting
resources,
machinery,
technology,
get the emotional support necessary. Also,
with an expert in the industry provides a
equipment and infrastructure. Of course,
learn more about how you can overcome
clear analysis of your business that can
you won’t have all the labour and
some of the common fears entrepreneurs
help you with strategic planning. These
equipment you need when your business is
face by reading The Business Playbook.
in start-up phase. However, your physical experts can be financial advisors, business Click here to learn more
consultants and other professionals who
support system will grow as your business
grows if you have a strong foundation of can provide quality advice. It’s an
physical support. Hire wisely, get the best investment that you make for your
business that will pay off in the long-term.
machinery, equipment and technology that
you can afford. Choose the right location.
Physical Support
Final Words
A strong support system is necessary for entrepreneurs to succeed. If you are considering becoming an entrepreneur, pay keen
attention to the 4 types of support you will need to face the challenges that lie ahead. I’ll leave you with this poignant quote from
Winston S. Churchill, “Success is not final; failure is not fatal; it is the courage to continue that counts”.