Ever dreamt of launching your own startup, picturing success stories and instant riches?
Well, let me tell you – the reality is a wild rollercoaster! It’s full of highs, lows, and unexpected twists.
I’ve been riding this coaster for a year now, and if I could whisper some wisdom to my past self, it would be these three golden nuggets:
- The Emotional Ride is Intense: Be prepared for extreme highs and crushing lows.
- Humility is Key: Overconfidence can be your downfall; embrace continuous learning.
- Don’t Be Afraid to Ask: People are often willing to help more than you think.
Let’s dive into five hard-earned lessons from my first year of running a startup.
The 5 Hard Startup Lessons
These are 5 lessons that I’ve learnt in my journey.
1. The Highs Feel REALLY High, But the Lows? Ouch.
Running a startup is an emotional rollercoaster. A successful launch, positive user feedback – these moments feel incredible!
A study by the Harvard Business Review found that entrepreneurs experience more intense emotions than corporate managers.
Be prepared for the ride.
But when things go wrong? The rejections, funding challenges, and unexpected hurdles can feel devastating.
It is because these hurdles are so steep that people fail to recover from them. This is why:
- Build a solid support system of mentors, friends, and family.
- Celebrate the small wins to keep momentum going.
- Remember your “why” to stay motivated during tough times.
2. “I’m Prepared!” – Said No Successful Founder Ever.
Coming from senior leadership roles in established companies, I thought I had this entrepreneurship thing in the bag. Arrogance bit me hard. Running a startup requires a completely different skill set.
The sheer breadth of knowledge you need is crazy. Everything from marketing to sales, finance to legal is to be taken care of. Continuous learning becomes your best friend.
- Embrace Humility: Acknowledge what you don’t know.
- Seek Knowledge: Take courses, attend workshops, read books.
- Find Mentors: Learn from experienced entrepreneurs.
3. Nobody Cares As Much As You Do – And That’s Okay.
It is a hard lesson to learn. Your startup is your baby, your blood, sweat, and tears. But remember, your team, advisors, and even customers have their own priorities.
When they don’t engage with your social media or offer immediate support, don’t take it personally. Separate your emotions from the business.
- Set Realistic Expectations: Not everyone will be as invested as you are.
- Focus on Your Vision: Stay true to your goals, regardless of external validation.
- Prioritize Self-Care: Burnout helps no one.
4. People Are Actually Amazing!
Asking for help can feel like admitting defeat. I started very shy. Turns out, most people are genuinely happy to lend a hand!
According to a study in the Journal of Personality and Social Psychology, people experience a “helper’s high” when assisting others. So, asking for help may be benefitting them.
It may be that they sharpen their skills, they need a project for their portfolio or they like to support you. So, make it a habit to ask for help.
- Don’t Be Afraid to Ask: You’ll be surprised by the generosity of others.
- Be Specific with Your Requests: Make it easy for people to help you.
- Show Gratitude: A simple “thank you” goes a long way.
5. You’ll Suck at Everything…For a While.
As a startup founder, you wear many hats. Marketing, sales, customer service, and even cleaning the office! It can be overwhelming.
It is important to understand your strengths and weaknesses. Outsource or delegate the tasks that eat up your time.
- Identify Your Strengths: Focus on what you do best.
- Delegate Effectively: Free up your time for strategic tasks.
- Embrace Outsourcing: Hire experts for specialized needs.
Bonus Tip: Validate Your Idea First!
Do not jump right into development! It is one of the biggest mistakes you can do as a startup founder.
My initial product was made because lots of people were clicking our CTA(Call to Action).
But I should have asked for the feedback around the project first.
- Talk to Potential Customers: Gather feedback on your idea.
- Create a Minimum Viable Product (MVP): Test your core concept with a limited feature set.
- Iterate Based on Feedback: Don’t be afraid to pivot if necessary.
Final Thoughts
The startup journey is challenging but incredibly rewarding. There will be bumps in the road, but that’s part of the adventure.
- Embrace the rollercoaster.
- Stay curious, stay humble, and never stop learning.
Good luck, fellow founders!
