So, You Think Startup Life is Easy?tony tony https://secure.gravatar.com/avatar/aa9bbdf8f1e6bbf534778ecea7c0c925?s=96&d=mm&r=g
There are many things to like about startup life. There’s a lot of freedom. Some people want to work in a startup because of the life style. Some want the money… hint… there’s not that much. Others do it because of the entrepreneurial spirit. The never dying flame that you can make it. Regardless of why… it’s a plunge and commitment. Not a path for the weak of heart. Startups fail all the time… If you ask Forbes, it’s an 80% failure rate within 18 months. Crazy high number…
The endeavor of working at a startup isn’t as endearing as you may think. It’s risk for high rewards. It’s truly a gamble. A common reason many startups fail is because they don’t prepare for the startup life. It’s a struggle… amplified by your responsibility for everything. Even if you do the day to day things perfectly… if the long term strategy is broken… you will fail. Management of personnel is difficult. You have many different personalities. And each has their own objectives and goals. And so many pitfalls… like one every day…
Every startup is different. It has it’s own personality. And moves at its own speed. I’m going to frame this week’s blogs based on my personal experience. I’d start by saying the easiest way to kill a startup is to not have a plan.
A plan is where you see you business in a year, two years, or ten years. It’s how you get sales. Who your vendors are. How you get customers. How you compete with other startups. What makes you different. Where are the opportunities. How do you respond to market conditions. And what is the end goal. I have a business plan skeleton on this website. 🙂
Startup life is an all the time job. Because your competitors… are always working. It’s not suited for people who are lazy or complain about long hours. And it’s incredibly ill suited for people who don’t execute projects. It’s like a book I read in middle school about a boy and his shamanic journey into the desert. Except instead of getting a cool spirit animal after you are done… you get a cool business. And it’s 1:37am on a Sunday. Thank goodness for Monday work at home… half day. and then off to Cypress other half day.
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