One thing you should expect when starting a business is the rollercoaster of emotions. As you deal with the highs and lows of your project, you’ll be frustrated, anxious, happy, and excited, all at once. It’s normal to experience all these—what’s not okay is to let these emotions run wild and affect your decisions.
As you know, emotional decision-makers don’t exactly make the best judgments on things. Make sure to keep these emotions in check when starting your venture.
This stems from different reasons. Some feel they’re not competent or knowledgeable enough to run a business on their own. Others are insecure about their funds. Still, some worry over external factors, like the market’s reception or the economy’s state.
When anxiety grows and remains unchecked, it can drive you to delay opening your store or worse, not acting on your plans altogether. So, as early as now, acknowledge your anxiety triggers. From there, take proactive steps in preventing their impact on you.
If it’s the lack of funds, pitch to investors, start getting a side hustle, and don’t quit on your job just yet. If it’s the market’s reception, consider exploring tried-and-tested business models, like clothing franchise opportunities. If it’s the perception of incompetence, take business classes and workshops. Franchise brands have training programs for franchisees, so you can take advantage of these opportunities to boost your know-how of business operations and get rid of anxiety bit by bit.
Excitement is a good feeling, so new entrepreneurs tend to think it doesn’t need that much controlling. The thing though is you can have too much of a good thing. Too much excitement might drive you to overoptimism, with you projecting big returns within the next months or so or being blinded to the risks involved in your venture.
It’s good to imagine yourself being successful in the field; use that as an inspiration to get things going. But keep yourself grounded in reality also. Identify possible causes of failures and put back-up plans to protect your investment.
There would be more misses than hits when you’re trying to start your project. You’d hire the wrong guy, get some bad reviews on social media, pursue money-draining opportunities, struggle with professional and personal relationships, and many more. When you hit these roadblocks, the only appropriate response is to learn from it and get past it. Redirect that energy in frustration towards re-tracing your steps and knowing where you went wrong.
It’s also good to surround yourself with a community who will give you sound business advice when you’re in the middle of a tough dilemma. So make it a priority to get to know more entrepreneurs in your locale. One good way to start is to join a co-working space community. For sure, you’d meet entrepreneurs who struggled with the same issues you’re facing and have gotten past it. That would be helpful in relieving some of the frustration and power you up for your next steps.
Emotions run high when you’re starting a new business. Acknowledge your feelings as you run your venture. Don’t brush them off. Don’t dwell on them either. Ask yourself, “What am I feeling?”