Friday, December 10, 2010
Wishful Thinking and Entrepreneurship
I read a column from an entrepreneur coach and he says when you are starting out, most days are bad ones, where you wear multiple hats and are required to do ten different tasks, only two of which you actually know how to do. And he says some days you want to throw in the towel and other days the sky is the limit. He's right. Most days entrepreneurship is just one small task after another. Nothing glorious. Expenses still exceeding income. Moments of glory but the rest is just a series of tasks that hopefully move toward the goal.
Some days I think I Can Do This and there is no end to my optimistic view of the future. Then other days when I wonder what the heck am I doing anyway! Whatever made me think this could work? And then something small happens...some small bit of success that sends me rocketing back to optimism. A roller coaster ride to the finish.
It is interesting that if I had not invested the original money into the project, I may have quit by now. Not because the idea would not fly but because it is difficult and slow. I had expectations that this would happen faster than it has. T. Harvey Eker says to plan on paying twice as much as you budgeted and take 3 times as long as you thought it would. He was right although I did not know it at the heady launch time when I read the article.
It is still fun though and in the end that is what counts. Add in the fact that it continues to grow, despite that it grows slower than I would like it. Budgets would indicate that over time I will make money too. I still look at the product and get a little flip in my heart. Random, unsolicited, unmotivated feedback still says Thumbs Up. Still a reason to go forward. On Dragons Den they say not to expect to make any money until year 4. I am thinking year 2 or 3 but maybe that is wishful thinking....