Finding the Courage to Open Your Own Startup
With the idea of starting one’s own business, comes a bundle of self-doubt, uncertainty, and fear. These are all the raw feelings that people naturally experience when they are starting their own business. It is definitely terrifying to pool in all your saving and starting something new. Some of you might even be leaving the comforts of a permanent job for this too.
It does not matter what age range you belong to; the fear of starting a business is real and comes automatically. There are various instances of constant self-questioning that a person goes through as they decide to turn their own unique idea into reality. Becoming an entrepreneur means not just the added pressure of whether or not you will get any profit over your capital, but also how you will be able to support the many employees working under you. Hours upon hours would be invested in convincing the investors to spend in your business, most of whom would be your friends and family. You have to make sure that your idea is so fancy and unique that it has the potential to garner the customers that you have set out to capture.
In fact, research has suggested that more Americans are afraid of starting their own business than having to jump out of a plane. However, the problem here is that this very fear is not only stifling ideas, but also the growth of the economy. However, the businesses that you see thriving now are all the product of risk-taking that entrepreneurs like Damian Merlak took on.
In 2011, Merlak founded Bitstamp along with Nejc Kodric. He bought his first Bitcoins at $2, and upon witnessing the rise of the price, he decided to invest more money. He decided to create his own mining setup after buying the parts from Kodric’s shop. Together, Merlak and Kodric received up to $10 million in startup funding, which they used to create their own trading platform.
He then decided to start Tokens.net after he left Bitstamp once it was acquired by NXMH. The new company collected $15 million in funding and he is currently the 8th richest, and 37th most influential Slovenian.
But Merlak would have never been able to experience such resounding success had it not been for his risk-taking capabilities.
Damian Merlak was able to build the company he envisioned by setting goals and priorities. The reality is that goal setting is an integral part of starting any company. You need to write up your vision and mission statement first, and then come up with smaller goals to achieve the main goal. You will have to make sure that you subdue the perfectionist inside you to be able to get on with achieving your vision statement. Being too much of a perfectionist would result in a loss of self-confidence. You might also remain stuck in a loop of fixing things which may not be the most efficient use of your precious time.
