Startup: The Psychological Factor
I think the hardest part of doing a startup is the psychological factor. During conferences, there are always panels about raising money, bringing together a world-class team, and staying competitive, but there’s little talk about the founder’s lifestyle. However, before you get going on a building that killer app, you have to have heart for the startup life. There will be up’s and down’s, and you are own your own.
Here are things that I think are important, and not really talked about.
1. Be Confident – When you’re running your startup, what used to seem like a great idea may not be so after a few days. Or, suddenly, you find two other competitors who are doing exactly the same thing as you. Or, you’re simply tired of living off ramen for months. A founder needs to have the confidence to believe in himself. Moreover, you’re going to be the one motivating your team. That’s a lot of positive energy for a person to have.
2. Don’t Be Cocky – On the other hand, you’re not always right. Sometimes, it’s hard to cut out features or change business models. But the reality is many entrepreneurs go through many iterations in their product before it becomes successful. In the worst case, be prepared to fail. The reality is most startups fail; it is better to accept it, learn from your mistakes and become a better entrepreneur, than being too big for defeat. This seems to contradict point #1, but it shouldn’t.
3. Go Out, It Motivates You - Go to the local startup events. Go network with other founders. Humans are inherently social people. I believe the reason there are so many startup events is that founders are lonely people. They are trying to do something completely different and not many people can relate. Okay, that sounds kind of sad actually. Also, it is a great way to get feedback. For example, YCombinator companies meet weekly to discuss their latest work. Fellow entrepreneurs will usually ask harder questions than friends and family.
4. Discipline and Balance – When you are your boss, you set your own agenda and work life balance. Especially if you are young, you aren’t yet used to work hours. I think it’s bad if you just try to work like mad all day. Your hours will easy get messed up and it gets harder to track your productivity. It’s also likely you will get burnt out. This is especially true if you are trying to work out of your own home. Set a time when work is work and life is life. It will also decrease your overhead.
Anyways it’s 3:43am, I think it’s a good time to sleep. What a great way to just contradict myself, lol.
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September 17, 2008 at 8:18 am
From vBharat.com » Startup: The Psychological Factor... Before you get going on a building that killer app, you have to have ...