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”.