Believe it or not, but I’ve been in this business for over five years now, sure it might not sound like an unbelievably long time, but then again, I’m not that unbelievably old either. Nevertheless, there is a crazy amount of phases, stages and segments every entrepreneur faces, harsh realities that, no one but you, actually realizes and knows about…it can be a bitch.
So no matter how old you may be, no matter what class you take, no matter what sports team you may be into – when funding and founding a startup, you´ll always face the same issues a lot of other entrepreneurs face – only question is, who will persevere? Because lets face it, the endeavors of an entrepreneur are, more or less, unpredictable, until they are tested of course. So, it doesn’t matter if you’ve been in the game for just a couple of months or for a whole 10 years, you´ll still be dealing with these 15 harsh realities.
1. You’re going to fail and collapse over and over again – and it sure as hell won’t feel good, at any of those times.
2. Waking up in the morning isn’t really as easy anymore. It might have been fun and excelling in the beginning, but lets face it, it’s been over a year now and you still haven’t really managed to get it right.
3. That brilliant business idea is only brilliant if people are willing to invest their money in it. It doesn’t matter how genius you think it is, if its not cashing in, it’s a no bueno.
4. It may be the most difficult thing, but sometimes you have to kill your baby. You worked crazy hard to get to where you are at, but its sad to say that the road ends here.
5. Working and starting with something you’re merely interested in and don’t believe in will only lead to one thing: failure.
6. You should always wait for the right idea, but never the right time for takeoff. There is no such thing as the “right time” to launch a startup.
7. Unless your really tight with the Sheikh of Dubai, 99% of the time your product/service wont reach stratospheric heights from day one. It’s going to take months, and in some cases, years before you get it right.
8. There is no such thing as perfect; there is always room for improvements.
9. You’re the average of the five people you hang out with, so hiring the right people is key – though it isn’t as easy to find them.
10. Your first employees are, more or less, going to suck – even if you hired your friends.
11. Capital, cash, money isn’t really the ultimate motivator (even though it should come as some kind of motivation). What really matters here is that your employees are doing a kick-ass job, investing their time and efforts towards the same collective goal in order to make a significant difference.
12. If your will of winning is greater than your will of losing, you will go far.
13. Though you should never be afraid of failing, the more you fail, the more you learn – just make sure you don’t make the same mistake twice.
14. Everyone you meet is going to have an opinion, and most of the time they are going to suck. But either way, you’re in charge, you’re the captain – you, and only you, decide on where you’re going. Listening to those sad and self-comforting comments will only push you to the verge of failure.
15. Once you can taste, once you can feel that entrepreneurial success, that so many people would kill for, you wont ever leave the game, you wont ever retire, because it is just that sweet.