Earlier I wrote a post on Fear titled I Think I Can’t, I Think I Can’t, I Think I Can’t.
Fear is an issue that I will continue to return to. I don’t think fear is all bad. I believe it is a God-given protective impulse. But can also become a hindrance. I want to continue to discuss this and would love to hear how fear affects you in your consideration of a career change.
In the I Think I Can’t post, Mike wrote in the following comment:
“There is also the fear that of all the options you have, you may choose the wrong one. I’ve had one successful startup. I haven’t worked for 10 years because of it. But now I consider another one, and 9 out of 10 startups fail. The first one was so unbelievably hard. And I didn’t have responsibilities then. But what is chasing something you desire worth? Everything perhaps? Whoa. It’s never easy.”
This made me think. Quite a bit. I know Mike. I admire his, intelligence, business acumen and joie de vivre. He hits on so many issues.
Fear, options, getting back in the game, uncertainty, responsibilities, passion.
I wanted to share Mike’s comment with because I feel most importantly, his wisdom hits on just how hard it is to start a business and the real risk involved…even if you have done it before ..successfully.
There is a honeymoon period when starting a business. You are acting on your passion. Dreaming. Planning how to spend your future millions.
Here is the sobering part.
You really could fail.
Lose your investment…your house…or more.
So you really have to choose wisely.
I think its easy to want to start a business. The hard part is in starting.
For Mike, I would say that though he knows the realities of entrepreneurship and there are no more rose colored glasses, he also has knowledge and experience to avoid making amateur mistakes.
For me, chasing what I wanted was worth everything, and then I nearly lost everything..but still worth it.
Now, with a little experience, I have revised the sentiment of “this is my passion” and combine it with sound make business decisions. I like to think I was doing that all along, but you know what they say about hindsight.
So Mike, ask yourself these questions.
How much do I want to expend my life and energy on [project]?
Is [project] able to reach the goals I envision, eventually?
How much am I willing to invest (lose)?
If you give yourself a loss limit then you you decide up front your risk tolerance . I say, Life is too short not to try.
Just think, your first effort allowed you 10 years of job freedom.
