One of the hardest things about starting a company is that you are on your own. Who can you turn to for help and advice with challenges? You can’t talk to employees, who, upon hearing there is only a month’s worth of cash left in the bank, will immediately start sending out resumes. It’s hard to be totally upfront with investors, who you will probably ask for more money down the road. As great as mentors can be, most issues would take too long to get them fully up to speed. Unfortunately, there’s no easy solution. Isolation and complete responsibility are the burdens in the life of the CEO and entrepreneur. The best you can do is to minimize your isolation as much as possible. Surround yourself with highly capable and intelligent people who can help shoulder the load. Keep a journal that you use to organize your thoughts over time. Keep in close contact with your advisory board, which can help with key strategic decisions. Consider joining an organization like Vistage, which hosts roundtables with other CEOs that can act as a sounding board. Usually small things like this can go a long way to help reduce the pressure and keep you on track.
The Agile Startup is an inspiring compilation of the most important lessons of innovation and entrepreneurship. It’s easier than ever to start a new business, and the potential rewards are enormous. But even with all of the available advantages and resources, the likelihood of any one business succeeding is slim. That’s why you need the simple, clear, actionable lessons found in The Agile Startup.
Author Matt Sand
Passionate about making a difference through innovation and entrepreneurship.