New businesses require risk, and risk means sacrificing security and stability. You'll not only sacrifice financial security; in a way, you'll also risk the security of your reputation on this venture. This pressure can feel overwhelming and present a major obstacle to productivity.
Prepare yourself and your dependents for this loss of security by clearly outlining your financial commitment to the business. Know exactly how much money you will commit and what will happen if that investment is unsuccessful.
Have frank discussions about the potential failure of your venture. These conversations will not only help you create a fall-out plan, they will also help you identify risk factors. The better you understand how your business could fail, the better you can defend against those potential scenarios.
2. A "regular" schedule
Your business is a lot like a newborn: It has no respect for your sleep schedule, appointments, or family dinner nights. It will demand attention at inopportune times and you have to nurture it in a highly responsive way, especially in its earliest days.
If you've left a traditional, 9–5 job to pursue your business dreams, you'll need to train yourself to seize every opportunity to relax, sleep and spend time with family. Entrepreneurs have to be highly flexible and never expect things to go as planned.
The best way to prepare yourself for the irregular schedule of a new business owner is to improve your time management skills. Find ways to take advantage of 5-, 10-, and 15-minute windows you might find at odd times during the day.
Learn to be spontaneous with your plans and maximize productivity in your windows of unscheduled time.