Birth Pains of Starting a Business

There is value when you look at how businesspersons started their company. While there are snippets of experience here and there, there is no real forum to describe the real experience of starting up a company.

Most of what is written deal with the technical aspect of setting up the company like designing the business plan or drafting the marketing strategy, or developing marketing collaterals like brochure printing or print brochures and even flyer printing. However, there is little interest in the human aspects of starting a company. It seems that this aspect is completely ignored because most writers want to focus on the inspirational and positive features of creating a start-up business. Yes, setting-up a business has its ups. You will experience satisfaction, fulfillment, and oftentimes, it can be life altering.

Nevertheless, what we tend to not discuss, albeit deliberately, is that in starting a business one goes through both emotional and physical stress, anxiety, sleepless nights, panic attacks, destruction of relationships either with family or business partners, embarrassment, lawsuits, health problems and worst, bankruptcy. There are the doubts or the if thoughts… 'If I could have just…. or If I could have borrowed more… or If just lowered the cost…. – Indeed, these are thoughts that could haunt you for life.

Given the other side of starting a business, would you still pursue your dreams of owning and managing your own business? Yes, it can definitely be a nightmare, but you would not want to be haunted by the thought that you chickened out, would you? I always believe that people who do not fail are those that do not risk. Having said that, I still believe that despite the negative aspects of starting a business, there is still light at the end of the tunnel. What you should do is to try to understand and accept some things in the process. This would help you become more resilient.

First, you must come to an agreement with yourself that there is a chance that you will lose everything. Businesses do fail. That is a fact of life. You have to come to terms with this fact that not all businesses will succeed. Needless to say, you have to be prepared to watch your dreams fall apart.

Second, when it comes to business, you have to be ready to sacrifice. I know of a dying businessperson who reprimanded his family for being at his bedside because no one would tend to their shop. This is extreme, but one that would capture the message: even if you are dying, there is nothing that should keep you from being ready to work.

You must also be prepared to sacrifice your holidays or alone time. You have to be reachable 24 hours a day, 7 days a week and 365 days a year. There is no downtime or alone time. Technology has made it possible to stay connected to the world, to your employees, to your business partners, and most importantly, to your customers.

Third, related to that, you must be able to insulate your relationship or marriage from any business problem. Most often than not, marriage or relationships with family is often the first casualty if something goes terribly wrong. You must make this clear with yourself and with your spouse or with your children or siblings that your relationship with them is strong and that no work related problem could ever damage it. Amen.

Finally and most importantly, be ready to walk away if it does not work out. Cut clean and cut the losses. There is no point in fighting for something that cannot and will not survive anymore. Be prepared to walk away to fight another day.