5 Sacrifices Every Entrepreneur Makes

Being an entrepreneur is not as easy or fascinating as it sounds. Entrepreneurs not only have to make hard decisions but they also have to sacrifice a lot. Here are the 5 sacrifices that every entrepreneur makes.

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  1. Sleep: This would be the first sacrifice of all. Everyone loves to sleep but if you choose to be an entrepreneur, this would be the first thing you’ll have to put aside. There might be days where you’ll be working nonstop and harder than when you were employed for some other company. You might have to pull through all nighters to get results and things done.
  2. Money: As an entrepreneur, you might have to go without a fixed salary for months. You’ll be working two to three times harder than you used to and might not be compensated well. You will have to invest a lot of time—unlimited hours—and hard work into your business before you see that being resonated in the money you’ll make. You’ll see the results not immediately but gradually. Patience and more hard work will help you achieve your goals.
  3. Work-life balance: Maintaining work-life balance will be painfully difficult, but entrepreneurs have never liked anything that’s easy. They love challenges and getting past difficult situations. This would be one such challenge. Your personal life might suffer as work life will be more pressing and demanding. You might have to solve issues and respond to calls and emails at any time of the day. You will be the contact point and decision-maker for everything. Your team will hugely and mostly depend on you to lead and show them the way.
  4. Social life: As an entrepreneur, you’ll massively have to cut down on your social life and interactions. You may have to miss parties, social and family gatherings because work will be your number one priority and engagement. You will be investing all your time and energy into your business so that it reaches new heights.
  5. Comfort: Comfort is something that won’t fit in the picture if you choose the entrepreneurial path. Luxuries will be rare and uncomfortable situations more. You will have to work an insane amount, make tough decisions and do many things you’re not comfortable with. You will have to strategize, attend meetings, take calls, convince people, choose the right team and investors, take blows when decisions backfire and do some damage control, if needed. You’ll be the woman or man with many hats!

It won’t be easy but to touch heights as an entrepreneur, you’ll have to dream big, work harder and act stronger! Wishing you lots of luck.

Benefits of Customer Reviews for Your Online Business

Internet and social media have become the new platform for doing business. This has provided entrepreneurs with many new business opportunities. Having an online business helps you connect with customers all over the world very easily and seamlessly.

Selling online is effective and challenging at the same time. The biggest benefit of using the Internet for your business is that it has a wide reach. Advertising for online businesses via online media can be a good choice as it is more trackable compared to traditional means of advertising and allows businesses to reach and sell products to a larger number of audience all over the world.

Online businesses run 24*7 because potential customers browse through the websites, products and services anytime according to their comfort and free time. With an increase in the trend of online businesses, it is very important for business owners to take into account the customers’ reviews. Here are a few benefits of online reviews for businesses.

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  1. Free advertising: Reviews from your customers are free advertisements for your business. Each review posted by a customer online provides a kind of mass exposure and people can know about your products and services. They can increase awareness about you and your products and services.
  2. Impact on search engine results: Search engines, such as Google, also take into account the number of times the name of your business is mentioned in reviews. If you are mentioned many times, you might appear higher in the search results for a particular type of business that is reviewed very often.
  3. Suggestions for improvement: Customers give you criticism as well as suggestions for improvement, all related to your business. This serves as a good opportunity for businesses to resolve customer problems and improve their business practices.
  4. Foster relationships: Online, you get to read reviews from a wide range of customers. You can reply to both negative as well as positive reviews and this could be your chance to foster healthy relationships with your customers. Depending on the way you respond, they may become more loyal to you.
  5. New consumers: Customer reviews influence other consumers as well. A survey in 2009 by Nielson reported that out of 25,000 consumers from 50 different countries, 70% trusted the online reviews posted by other customers. This helps businesses aim for and keep up the highest standards of services to get more positive reviews from their customers.
  6. Increase competitiveness: Reviews posted by customers help increase competitiveness. If a consumer is disappointed by your product or service, it gives you new areas to work on and get better.
  7. Push sales: They increase the sale of a product. Several months of good rating and positive reviews may lead to an increase in the sale of your products.
  8. Give a platform: With the option to submit reviews, consumers get a platform to voice their issues, complaints and feedback.
  9. Increase interaction: Customers might have doubts and questions related to your product/s which they can ask directly on your website. You can reply there and then and increase interaction with your target audience.

Customer reviews should help you take your business forward and negative reviews only give you areas to improve upon. So, take both positive and negative reviews with a smile. Good luck!

This article has been contributed by Ashna Handa.