How can I stay motivated and resilient while navigating the challenges of multiple startup failures? #entrepreneur #startups #resilience
Hey fellow entrepreneurs! Feeling a bit lost here… I’ve launched over 10 startups, but most of them haven’t panned out. Now, I’m knee-deep in another project and the urge to give up is strong. How do you keep pushing forward in the face of adversity? Share your wisdom and personal experiences to help me stay on track. Thanks for your support!
I’m in the same situation as you are right now.
I’ll never quit because I do not want to return back to a 9-5 job. Everything will work out and I will succeed.
Know this ~ You either quit or keep going, they both hurt ~
YOU. GOT. THIS.
Go slow. It’s easy to build small stepping stones, which lead to some precipice.
Good and amazing CEOs can work within the business. They make progress in the things “every business needs” which are like GTM, executive recruiting, team building, culture and process stuff. Those are mostly small actions.
CEOs sometimes need to be fine, not being ok, with slow progress on strategic initiatives which change the definition of the business. If there’s no value or meaning to the rest of it, it’s hard.
What are you working on?
Find a cofounder with the right drive
I would be very interested to learn more about the specific challenges you guys are facing and what resources you’ve tapped to help with those challenges?
I look for market validation in similar services that I know I could compete with and then challenge myself to do better than what they offer…
Did you even try to validate what you’re doing with your potential customers? Or are you like 99% of tech folks who just code away without any view if people want to use what they’re building?
Have you analyzed why they didn’t work so that you can not make those mistakes again?
How many of the startups did work out?
Why did the others not work out?
It sounds like you need to do more validation on the ideas before diving into them. Or you didn’t execute well, which means you need better cofounders.
I agree that it can be challenging and even discouraging to keep going after what feels like so many failed attempts. However, how I like to view it is every business that didn’t work out helped you to pivot and become the person you are today.
In terms of advice to help you keep going, I recommend thinking about your why. Why did you choose to make this journey in the first place? Why did you make the choice to get up and try again after your your 1st, 2nd…9th startup? Even though it may be hard for you to identify at first there is something deep within you that is motivating you to keep going so you need to identify it and remind yourself of that reason.
I would love to chat with you to learn more specifically about your journey.
My hatred of having a boss is stronger than my fear of failure or any feeling of fatigue. 😂
This is why I’ll take determination over passion every day of the week.
You focus on the problem, not the solution you have in mind. Always remember your WHY.
In my case, I run a marketplace.
What helps me and my team is celebrating the little wins. It can be anything from deploying new code to stabilising the platform, creating content that drives engagement/traffic, rolling out a new feature/functionality – be it white labeled or custom solution, receiving positive feedback from your ICP, obtaining your first paying customer, establishing a strategic partnership, receiving a word of mouth referral or tracking what users are doing onsite.
I’ve been at this for 2+ years now building (on the side mainly). I would be lying if I said I didn’t have doubts or wanted to give up/pivot along the way. Being able to turn an idea into reality is the most satisfying thing I’ve ever done. In the beginning it was just me, but overtime, people started to see and witness what I’m trying to achieve and wanted to help, come onboard, etc.
My recommendation is to keep at it. It’s okay to take a break to reset, pickup a side gig. The main thing is to be consistent and set little goals. Your future will thank you for it
Put yourself in a mindset of quitting is not an option. An f*** what other people say about your product’s timely development, and the FOMO. Delete that s*** from your 🧠 . Raise your black flag 🏴☠️ and get to work.
With your startups did you do market research with potential customers first? If you are going to invest your precious time, effort and energy into something make sure you are creating something people need and will pay for! Otherwise it’s simply a game of random attempts, I’d be disheartened with that too.
I think everyone struggles until they learn how to sell, and then they grow until they struggle when they can’t do marketing, and then they grow until they struggle when they can’t build good products, and they struggle when they can’t operate, and they struggle when they can’t scale.
It’s better to find a great sales person, a great marketer, and a great product person and build a team if you can. But if you can’t then you have to learn the marketing and sales yourself; you probably already know that but it’s hard.