Unprepared to Entrepreneur summary

Starting a business is never a smooth process. Yet business schools still teach students that they need to have a fully fleshed out business plan before they can even think about revving the engine. 

Sonya firmly believes those days are long gone. Overly intricate business plans often deter people from ever getting started, and the idea that you have to stick to a script can stifle innovation and keep you from applying creative solutions when obstacles come your way.

In today’s world, a social-media presence is a must for any business. It’s difficult to maintain that presence. When Sonya launched the LMF Network’s Instagram channel in 2019, she was terrible at it –⁠ so terrible, in fact, that the handle actually got blocked!

She and her team relaunched the account in 2020, and, fortunately, this time it was a success. What changed?

A strong network often translates directly into added value for a business. According to Freeland Fisher, up to 70 percent of all job opportunities are not published publicly, and up to 80 percent are filled through personal and professional connections. 

The people you surround yourself with have a huge impact on your attitude and opportunities. Naturally, then, your close circle should consist of people who support your mission and help you become even better. Take a moment to reflect on the five people you spend the most time with. Who are they? Can they support you in achieving your goals? Can they help you gain opportunities?

Remember how, in elementary school, teachers used to give out gold stars as rewards if you got a correct answer or behaved well in class? You probably saw it as an award for doing something right –⁠ you deserved it! But, as an adult, you may have a hard time accepting any “gold stars” you receive. Maybe you feel like you don't deserve accolades, promotions, or recognition.

This feeling is so common, it has a name: imposter syndrome. In fact, according to behavioral scientists Jaruwan Sakulku and James Alexander, up to 70 percent of people will experience imposter-like feelings at some point. These feelings discourage people from seeking promotions, speaking up in meetings, and starting new entrepreneurial ventures. Sonya constantly felt like an imposter during the first two years of starting the LMF Network, and you may experience such feelings at some point, too, if you haven’t already.