There are a thousand and one things for us to worry about but when you are an entrepreneur, you have to double that list because the business is you and you are the business.
In “How to startup a startup” Lecture 3, Paul Graham shared the following:
startups are all-consuming. If you start a startup, it will take over your life to a degree you cannot imagine. And if your startup succeeds, it will take over your life for a long time: for several years at the very least, maybe for a decade, maybe for the rest of your working life. So there is a real opportunity cost here. via Link
I can testified on it. Starting a company, be it a venture funded startup or a bootstrapped business. I believe that it would consume your life. The reason is simple, its like having a kid, you see the business grow and you are attached to it.
Ever work started a project that you put so much effort in it that when the project end, you feel sad about it?, that’s the kind of feeling when startup, however it is a much longer journey
Entrepreneurs are always under stress!
Before you launch a startup, you are thinking of ideas? Will this idea work or that idea work? If this idea solves a problem, does it a decent market to start a business in? If you are planning to go for VC money, how can I make it attractive for VCs?
“It never gets any easier.” The nature of the problems change, so you’re maybe worrying about more glamorous problems like construction delays in your new London offices rather than the broken air conditioner in your studio apartment, but the total volume of worry never decreases. If anything, it increases. via PG also shared in the lecture
You have an idea, you have a team and you start your company. The problems pile up even more. What is our cash-flow like? Will I be able to meet the payroll? etc etc.. Like PG mentioned there can only be more problems.
So if you are thinking of starting up, be ready for some stressful years of your life but I can assure you that it would be a wholesome one
Ask Chris why he wants to start company? You will be in a surprise with his answers.
How to cope with stress or sleepless nights?
This is how I do it.
- Exercise: Research shows that exercise reduces stress hormones and stimulates production of endorphins. These endorphins what runners often call the “runner’s high”, you feel extreme good and happy while cruising down the tar path.
- Do not read emails in the morning and before sleep: Reading emails right after you are awake is bad. Give your brain sometime to “wake up”, try this 10 minute yoga workout routine 🙂 . Reading emails just before you sleep is bad too, if you happen to receive a “bad news” email (maybe about certainly partnership not doing well) you mind gets active again and you disrupt your resting cycle.
- Read more books and not online articles: Maybe it is just me but I’m feeling that online articles, especially those with “click-bait” headlines does not have much substance in the writing. Good books on the other hand still gives more substance, they tackle into the specific topics in a deeper manner and they make you think.
As for Chris: he just stop working 3 hours before his sleeping time and watch youtube. (Find out what he watches, before he sleeps in the podcast)
Sleep is important, if your sleep is affected, you will mood and decision will be affected and in turn it will affect your business decisions.
Lastly, it is hard to start a startup. There are many things to an entrepreneur to worry about and it will not end. However, as entrepreneur we have to manage it.
We each shared a very personal problem in the podcast and we love to hear yours. Do not take on the problems on your own, there is always your team and you
- A group of youth making a difference in Singapore’s Tech Scene: If you are looking to learn coding, this event is open to everyone and it is free.
- How to start a startup