Excuses…we use them every now and then. Nowadays,they are actually an inseperable part of our life. Even startup and its founders encircle themselves in excuses. To me, excuses are the reasons for our unwillingness or lack of self-confidence. To prevent this all we need is courage to embrace our mistakes along with “never give up” mantra. Rather than quitting try considering alternatives like pivoting your business model or merging with new partners.
Young entrepreneurs often claim that they run out of money and thus a reason for ending. Though, experts say that running out of money is not the primary reason. The main reason seems to be that founders just walk away. Although they might be short of money but it is an excuse rather than a reason!
These are the most heard excuses from entrepreneurs:
1) “I’ve lost my passion. I’m not enjoying this anymore.”
But wait a minute..didn’t you affirm that you loved your product and passionate about it? However, This is one of the top reasons heard. Mainly, they have become discouraged or unsatisfied because of unexpected problems. If you couldn’t manage, why did you take up a lot more on your plate?
2)“I can’t find any trustworthy investors these days.”
If you can’t find external investor quitting is the only option? Naah, Try looking for investment from your family, relatives, partner, mentors or even university professors. They are a very good source of trust financially and even mentally. Try bartering services you have for something you need.
3) “The people on my team are not really committed.”
Doesn’t entrepreneurship means leadership? If you cannot extract enough from each one of them it’s a hit on your leadership quality. Or may be you have set your expectations too damn high. People do make bad hiring decisions. That doesn’t mean you should wrap up your startup and go back home. Fixing the issue and resetting your expectations is what should be done.
4)“I just don’t have the business skills I need to compete.”
Skills can be taught in college or learned while doing a job as well as by coaching from an experienced team and advisors. No one is born entrepreneur. No one is born with all the business skills. You have to gain knowledge from the world in order to be competent enough.
5)“My company grew too fast, and the pressure and costs are killing me.”
Wrapping up when your company is growing is just too pathetic and foolish. Instead try controlling the pressure by boarding more people who can help you lighten your load.
Never let these excuses dwell in your mind..Instead look out for the possible solution. Be a game changer and not game quitter.
– Vatsal Doshi