I have a few friends that have incredibly successful businesses, both in monetary terms and personal satisfaction, all of them at some point had some serious doubts about their business and themselves. I also know dozens of entrepreneurs who have been there, sometimes the business fails, other times it lives. A few times the business didn't make it, a few other times it did and eventually thrived. I've been in this situation a few times in my life, where I didn't know if the business (or myself) would make it.
If you have that “serial entrepreneur” streak in you, you may want to go out and hire a counterpart that loves to get mired in the details of everyday business activities.
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The difference is that successful businesses learn how to make their businesses work before they run out of money, or the will to go on. And at that point, when the money runs out, they also lose the will to carry on.īusinesses that succeed or fail all go through this messy middle phase. Most small businesses fail when they run out of money before they can figure out how to make their business work. Almost none fail in the startup phase, where you have the funds and the will to weather the storm. Most small businesses fail within the first 5 years. The term, “Serial Entrepreneur” simply means a person who loves to create and start businesses but hates running them. Entrepreneurs hate this part of the business, the part where you need to figure out how to make your business work for the long haul. The messy middle is where you figure out how to manage people, create processes, track and manage finances and learn how to refine your marketing as your startup marketing budget is long gone. It's the part where you actually turn your business into an actual business, one that will live on for many years to come. Things you can't ignore (or make excuses for) once you are out of that startup phase. The messy middle is that part in your businesses life where you need to work on the day to day activities of your business. That first year is awesome, scary and a roller coaster ride that non-entrepreneurs will never experience.īut what happens after the momentum fades, your new business shine fades, and the only thing you are left with is the day to day work of the business? In your first year or two of business, the enthusiasm is high, optimism is at its peak, and you can overcome most obstacles with sheer will.
Do you feel like you're getting nowhere with your business? Have you lost momentum and now feel like you're just spinning your wheels?
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