How to handle the emotional rollercoaster ride of being an entrepreneur

As an entrepreneur, sometimes it feels as if you are getting kicked in the guts from every angle!

 

As your journey progresses, the more issues you face, the more experience you gain and the better you start to handle situations – but then a whole bunch of new issues can arise. The rollercoaster continues.

 

The ability to keep the calm and the ship afloat sailing in the right direction is a key skill of a leader.

 

One of the positive comments I used to receive when I captained a cricket team was my ability to ‘keep the calm’ under pressure and make the team feel confident in their ability without a fear of failing.

 

If the leader panics, how do you think the followers feel! The best sport coaches and captains know how to handle pressure situations, and navigate through unfamiliar territory while keeping the troops in check, motivated and inspired to perform – even if they have to bluff their way through.

 

When the heat gets turned up, how do you react?

 

Here’s a depiction of the emotional rollercoaster of a newbie to entrepreneurship:

 

rollercoaster_1

 

The ups and downs can be quite steep.

 

Sales can be ripped from right under your eyes when you think you’ve made a sale, and then all of a sudden, the hard work you’ve done has gone to dust!

 

What about when a star employee with whom your business is reliant on, walks in, resigns and then sets up in competition while breaching restraint of trade clauses?

 

What about the legal letters you receive for an ambit claim?

 

What about the frustration when your IT guy doesn’t respond and you have excessive down time and no one has email or internet access for long periods?

 

How do you feel when you fall behind on ATO payments or need to find cash for payroll next week?

 

What do you do when most of your customers decide to stop buying and don’t need your service anymore?

 

What do you do when you find you have been defrauded by someone you are paying over $100K salary to?

 

Take a deep breath and smile? Maybe a walk around the block, or punch out a session at the gym. Or do you pull out the bottle of whiskey! Everyone has a method, but I recommend the healthy lifestyle over a pack of smokes. Water, sleep, exercise, massage, meditation, breathing, self-help books, talking with peers, counsellors, professionals or mentors are my form of dealing with adversity and of course – smile!

 

These are real day-to-day scenarios that all of us have faced, or will face, at some stage of our entrepreneurial journey. It is bizarre when you come home and your spouse says, ‘How was your day honey?’ and you wonder whether to reply ‘just another day!’ Some people just can’t comprehend the level of stress and pressure an entrepreneur faces on a day-to-day basis.

 

This article continues on page 2.

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