Shiny new business
Have you ever had a new girlfriend? You can’t stop thinking about her. You want to make it work. So you start putting in an extra effort to give this relationship the best chance of success. You start buying new clothes, ensuring you look your best, maybe even start going to the gym everyday. In this situation everything matters. You want to spend every waking moment with her, because it is so enjoyable, so much fun, the future looks so bright, the whole thing is so new. At this time we can’t imagine the joy of being involved in this thing ever diminishing.
Eventually, the emotions driven by newness wear off. It doesn’t necessarily mean we love our new girlfriend less, we might even love her more. It’s just a different set of emotions. And this new set of emotions often mean we, are less enthusiastic to prove ourselves, and or make it work – she moves from a chase, to a catch.
A new startup isn’t much different. Just re-read the above two paragraphs and think back to when you got going on your latest startup. It was a lot like the new girl friend. It was love. The emotions and behaviour have a strong analogy. What matters as entrepreneurs, is having the ability to keep up the momentum when the newness wears off. And there is nothing more certain than this. It will become less fun, less exciting and more arduous. It’s especially evident when we need to undertake administrative tasks with our start up – or keep door knocking after many rejections. It’s our ability to stay focused on ‘old projects’ that will determine our ultimate success.