Do you have the emotional strength and perseverance to lead a start-up venture? Your venture will become your life. This “idea” you’ve created will dominate all of your conversations and social discourse. Your family and friends will likely become involved. Relationships may be put at risk as your venture becomes – and is forced to be – the primary focus of your time. Before you find yourself in this situation you should ask yourself one question: are you will to risk all of these things for an idea that (according to most statistics) is likely to fail?
Much like a telemarketer cold-calling sales leads, for an entrepreneur launching a new venture each day will be a struggle for attention. The first issue is that people won’t call you back. Whether they are customers, collaborators, or investors; entrepreneurs quickly find that they’re not the top priority on the callback list. On average, you will call or e-mail ten times more people than those who respond to your messages. Mentally, this is exhausting.
Don’t forget to factor in the lost income. Are you ready to go years without income? Start-ups are rarely profitable in their first year(s), so how do you expect to make money if your venture is in need of constant capital to continue growing? Aside from lost salary, how will you pay for life’s necessities like health insurance? Even successful start-ups often refuse to pay for insurance and benefits for its employees.
Try This: Set a series of small goals to strive for each day. Make these milestones attainable, so that you can take solace in a series of victories you’ve been able to achieve on your way to your long-term goal.
Avoid This: Don’t let your venture control your life. Partake in hobbies and activities outside of work. Make time for activities aside from work itself. This is necessary to maintain a stable work / life balance.