Truth or Dare, flipping the startup coin

Dare to fail once, twice, three times but face the truth

Being a start-up entrepreneur is a dangerous thing, at least when you are not one of the connected-types. Connected-types to me are those start-up adventurers without personal risk because in fact they are contract workers for large companies that off-shored their innovation risks. Many an incubator is nothing more than a group facilitator of such projects with lld. status.

I am talking about those people who really believe that what they have discovered or invented is so unique or smart enough that their product / service is of value to others and a considerable profit can be attained, that they are willing to take a daring risk. That if the enterprise or undertaking goes sour, they will feel substantial pain privately and financially. The bootstrappers.

Take it from a guy who knows, loss of a venture can be extremely cumbersome and disturbing. There can be many reasons why or just one. The main thing is, 'you did not succeed in what you planned to achieve'. No matter who you blame, there is only yourself staring in the mirror. That is why it is so darn important to know when to let go. You don't want to let go too soon, but when you are in the ring and you no longer can see out of your eyes, your mind tells you to not give up, but you can't protect yourself any longer, it is time to face the truth. There is no winning the match this time.

Never lie to yourself. It is better to suffer from a painful ending than to live in endless suffering.

You might be devastated by this new found reality once it happens, but it will eventually be your savior. No matter the consequences of closing down a bad enterprise, it is better than the continuation of an ongoing misery. Once you are able to face the painful truth and regain strength, you can decide if you are made for this game or just an occasional visitor who tried it once but did not like it. Are you with fire or did the fire burn you?

To me it is simple, I found out that I cannot stop my brain from inventing solutions or finding new ways for existing problems. Thus, I'd better choose my own tune to play, in good times and the bad. Yes, I learn to better manage my personal risk and not lose everything I have because of an unfortunate venture. Does it hurt? Absolutely. Do I still think it was a good business proposition? Yes I do, because the due diligence was tight; but I or my team were not there right ones to execute it. Hence lesson learned, don't lie to yourself and get someone who can handle the opportunity better than you can when there is still time; even if the business idea sprouts from your own brainfart.

Merry christmas everyone... oh wait a minute we are not there yet. See ;)