New entrepreneurs get to enjoy the rush of starting a business, but they also face a mountain of challenges. If you’re in that position, keep reading for several survival tips that will help.

Tip 1: Know Your Strengths and Weaknesses

According to business owner David Carpenter at LifeHack.org, new entrepreneurs need to perform a self-evaluation to determine their strengths and weaknesses. This may not be the most comfortable task, but it is an important one. For example, knowing where you thrive can help you avoid hiring someone with redundant skills early on. Instead, you can focus on finding people who complement your strengths.

Tip 2: Plan Your Days

To stay on track, new entrepreneurs should consider planning their days carefully. A well-planned schedule can help you avoid procrastination. Additionally, the sense of accomplishment that you feel as you complete your daily tasks can help you stay motivated. That’s important, because starting a business is a lot of work.

Tip 3: Take Breaks

While it’s important to remain productive, you should also build time into your schedule for breaks. New entrepreneurs who log extremely long hours may be able to sustain that workload for a time, but eventually, burnout and stress will set in and sap productivity. Make sure you set aside time to spend on your hobbies and with friends and family.

Tip 4: Make a Business Plan

A business plan is an essential resource for any entrepreneur. It can guide your day-to-day and month-to-month decisions, and it is also an essential document for financing applications. While it may be tempting to wing it when you’re starting out, taking the time to create a business plan will pay dividends later. If you want to learn more about making one, take a look at the Small Business Administration’s guide on the subject.

Want more tips on starting or running a business? Be sure to check out Simplicity Capital Finance’s other blog posts.