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'One of the hardest parts was the uncertainty'


I remember this day very well. I sat with my co-founder in our office and then I heard him cursing, but that happened all the time. I just thought something was going wrong as usual. But then he showed me the announcement. We looked at each other and we both knew that pretty much the most serious worst-case scenario has just set in. You are a technology startup and this announcement from a technology giant deprives you of your business basis. To experience that moment and to live through it wasn’t easy. Before that we were so positive and hopeful and afterwards we knew that we had to change something. Otherwise our idea and our startup would be just done. One of the hardest parts was the uncertainty. We couldn’t really comprehend what this would mean for us. For all of us, it was our first startup experience and we had no idea what to do! We sat together in our team and tried to find solutions. At the beginning, I was fierce and willing to fight. Unfortunately, other problems became apparent as well in that moment. We didn’t really progress in our product development. We discovered other competitors we didn’t realize as such before. It was a mix of disappointment and hope. I personally questioned if this whole thing was still making sense. In the end it is a risk analysis. Should I invest more time in it or is it better to let it go? It’s not that I regret anything. I would do the same thing over and over again. You learn so much as an entrepreneur; nobody can take that away from you. But I wouldn’t do the same mistakes again. You have to be all in, but I would do it more controlled. “Controlled aggressive” you could say. I give myself less room for mistakes; I’m more consequent and more sensitive for signs that hint towards potential problems.

#uncertainty #mistakes #businessmodel #expectations #competition

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ENTREPRENEURSHIP

Blues Project 

Dr. Neil Thompson, Assistant Professor 

Department of Management & Organization

VU University, Amsterdam The Netherlands

© 2016 by Neil Thompson

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Created by Word Alchemists

#entrepreneurblues

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