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One thing people haven't discussed is how much your are personally involved in your business. I'd like you and others like you to take a step back and evaluate
by tstegart 15y ago
One thing people haven't discussed is how much your are personally involved in your business. I'd like you and others like you to take a step back and evaluate that aspect.
While being personally involved has advantages, namely passion/commitment/overriding work ethic, it also has disadvantages. Namely, that when your business starts failing, it feels as if you are failing, and when your business ends it feels as if you have failed.
I think the business suggestions people have below are very good, especially about concentrating on new cities. But you should also work on the psychological aspect of your business. In this case, reducing the belief that you and the business are the same. They are not. Business is business, and all over the world they fail for reasons outside the entrepreneur's control every day across the world. Lack of capital, timing, world events, technology, competitors, you name it.
I think a little bit of reduction in how much of your well-being is invested in this business will be good for you. When you start to think of your business as just a business, and not an integral part of who you are, then you realize it can fail and you will be ok. It allows you to bounce back quicker and be a better analyst on what is going wrong, instead of thinking that the solution to everything is working longer hours and coding harder (Not that your post suggested you are doing this, but some people do).
Thanks for posting by the way. I agree with the other person that said this is by far one of HN's most interesting posts in a while. I hope you manage to implement some of the advice people have given you. But if it doesn't work out, now worries. Another business opportunity will come. They have been coming for the millennium of human existence, and they will keep coming. And you will be stronger and better adapted to the next one, if that is what you want to tackle in life.