You might wish or believe that all your feelings about your start-up will be positive. Better to accept they won’t and be prepared when things get bumpy.
I cannot predict when a sense of desperation will strike you. However, I can assure it’s normal and doesn’t mean anything your success or failure. Some feel this way from the beginning. Others find a new contract, raising your rates, or hiring out services trigger the feeling. And some entrepreneurs reach a point of feeling desperate when they are away from the business.
No matter when this strikes you, responding effective is important. Failing to do so has serious consequences ranging from becoming an unhealthy workaholic to giving up on the venture.
Desperate Time #1: During the initial phase of launching the business is a common time to feel this way and be tempted to panic. It might be triggered by the process of preparing to publicly declare the business or shortly after. Either way, you want to be aware this is completely normal for a new BootStrap Entrepreneur to have these feelings.
Desperate Time #2: You might be surprised by this one—many people are. Another time a new entrepreneur may feel desperate is the first wave (and any additional waves) of success. Although this may seem counter-intuitive, waves of success run into whatever you learned about business: can’t be trusted, not for people of quality, etc. So success waves can also trigger feelings of desperation.
Desperate Time #3: Another critical situation may trigger feelings of desperation: the business growing to the point where you need to stop doing everything solo. But the thought of handing off any responsibility to someone new is terrifying. What if they don’t do it properly, just like you? You won’t be as in control and that is scary. How can someone else possibly care about the business as much as you do?
You may find other times or situations that bring up feelings of desperation—these are the common ones I’ve experienced personally and coached my clients through. The good news is you’re human and can use your unique qualities (thank goodness!) that come to ahead.
Entrepreneurs have rites of passage, too. Fortunately, you don’t have to walk the road blind. Tomorrow I’ll share some techniques for handling these feelings when they come up.
Wishing you Success & Heart,