When I first conceived OpenSource 11 months ago, it was nothing like what the model is at the present time. It went from a service that sourced out sales leads for my preferred service providers (not enough volume) to equipping retailers and merchants (they are more willing to listen) with the marketing strategies needed to stay competitive and profitable. Go figure! LOL.
As much as I would like to continue offering my original service to clients, it was not financially viable. After grieving for a few days, reality sunk in, and I knew it was critical to make some changes.
In order for me to realize that changes were due, I needed to look for affirmation that what my company is undergoing is normal. Start-ups such as mine inherently go through a number of costume changes before “getting it right”. But even upon reaching that point, there`s still a constant need for evaluation.
Everything’s going to be OK. But don’t lose sight of your goal.
Bouts of sleepless nights, constantly jotting down new ideas, conjuring second thoughts, arguing with friends and family, talking to yourself – these are all quite normal symptoms displayed by the ambitious entrepreneur. However, there will be times where you lose some steam and wonder what the point of all this was. Hey, I still get them to this day! It’s important to understand that it’s alright to go through this emotional and psychological roller-coaster. It’s part of the territory of being an entrepreneur.
What you don’t want to be doing is completely fall of the grid. Distractions, fear, pessimists, your existing job, your current financial situation – these are all designed in some twisted way to entice you to veer off course. Survival of the fittest. While none of it can ever completely clear from your psyche, it’s imperative that you keep your eye on the prize. See it through to the end, even if it fails. Like in sales, you either want a “YES” or a “NO” answer from your prospect. What you don’t want is a “Think it over” or “I don’t know” response. Why give up on something and be stuck with the fact that you had no idea how the initiative would turn out? When that happens, the roller-coaster will likely never stop.
Keep going until you absolutely need to stop.
How do you know when you’ve reached the end of the road? For most, the measuring stick is in the balance sheets. If your expenses exceed your revenue, and you see no sign of a recovery, it’s wise to cut your losses. For others, it may require a second pair of eyes to look at the situation from a different angle. As such, don’t be afraid to share your ideas with people who you feel can provide you the straight answer. People who are honest and not afraid to tell it like it is. Seek them out – you’ll thank them later.