I just left my job to start my own company in San Francisco, and it has been a lot of ups and downs. I am wondering what others have gone through after taking the jump.
I cover this in great detail in Chapter 12 of my book Double Double. However, since I can't attach that here - I also covered it online - in a blog post for Tim Ferris a few years back - here it is - http://www.fourhourworkweek.com/blog/2008/10/03/harnessing-entrepreneurial-manic-depression-making-the-rollercoaster-work-for-you/
Scared shitless. Self-doubt. Poor sleep. Waking up with pangs of fear. Doubt I made the right choice to leave my job. Doubt. Doubt. Doubt and doubt.
The ups and downs will continue...for ever. The July thing that changes (if you stick with it) is you learn to enjoy the ride.
Many of my clients have made the big jump you have.
The emotional challenges new entrepreneurs go through are typical to any changes: you will go from highs of the "honeymoon" phase and initial successes, to lows from inevitable failures and obstacles.
Entrepreneurship is an emotional rollercoaster. The best way to cope is to develop good entrepreneurial habits, from healthy living to sustainable work ethic.
You will have the pressure of having to manage a lot of conflicting priorities: by improving how you pay attention you can reduce stress, emotional breakdowns and financial struggles.
What emotional challenges are you most worried to bump into? What obstacles are you most anxious to have to overcome?
Schedule a call to talk about your specific situation and develop habits to succeed as an entrepreneur.
This depends on how well you have planned for the future.
If you have enough money for business and personal for a year, I would expect you would need to feel focused on results, happy clients, even happier investors and not focus much on how your feeling at the moment.
If you have spent thousands creating a new online business without money, support and team back up, I would imagine you are feeling desperate, embarrassed and possibly delusional.
Starting a business is an ever evolving experience. One that teaches you painful and joyful lessons alike.
When you jump, make sure you have a parachute that works.
G'luck out there!!!
The common thoughts that occur when starting a company is that you made the wrong decision. You will identify all the challenges that you are facing and see all the gaps in the idea early on that make you question the decision. Meanwhile you will start to see all the positives in your previous job, the consistent paycheck the lack of stress etc and forget the negatives, which actually caused you to make the jump.
In reality, everything that you do has ups and downs, advantages and disadvantages so its not productive to spend your whole time comparing your current role to every other job you had. It is best to focus on the key assumptions that have to be true for your startup to grow and test those out.
All startups go through challenges, all startups make mistakes so do not feel that just because you made a mistake or that you are facing a problem that your startup will definitely fail or that you are incompetent. Its part of the startup journey!