Just Say “No” to the…
- 1 millionth startup pitch competition
- Random coffee meeting request to “pick your brain”
- 100th entrepreneur networking event of the month…
…and get back to work on your startup! This may seem like harsh words, but there will always be demands on your time once you become an entrepreneur. It gets exasperated once you become a startup founder because you insert your own FOMO (fear of missing out). Here’s why — it seems like everyone is going and they’re connecting, having fun, and making moves — without you. That’s what it seems, but it’s not necessarily the reality.
Once you’ve been in the startup world for a while, you’ll see that almost every founder (if they’re seriously building a business) has an overwhelming amount of anxiety, stress, and lack of consistent sleep. However, no one will really talk about that at these events. These types of conversations are held in smaller, more intimate get-togethers. Those intimate events are the ones you want to make time to engage in at least once a month — they will re-energize you.
There’s diminishing returns once you are in the thick of building your startup and attending startup events for the sake of being there and FOMO, particularly in your same city. You’ll start to notice that you’ll see the same people over and over again — the startups competing, the people speaking on panels, and those judging startup competitions are pretty much recycled over and over again throughout each city’s ecosystem.
So, with that in mind, let go of the FOMO. A good rule of thumb is to attend one startup event, maximum, each quarter. Instead, prioritize spending the majority of your time actually building your business, with concentration on acquiring paying customers and iterating on your product. This is very important to build your case for the viability of your business in the marketplace. Nothing trumps this.
Sure, it’s cool to come out of your cocoon, say what’s up, and see what everyone else is up to, however, that should not consume the majority of your time.
As we continue to provide transparent insights about the #startuplife, make sure you follow our next post — we’re going to hit below the belt on the topic of “Coffee meetings to pick your brain.”
Just curious, how many of those do you take each month?
TPM Focus, LLC is a startup and small business consulting firm headquartered in Atlanta, GA. We help businesses startup from a simple idea as well as help mature small businesses, that are at least 5 years old, upgrade their operations with new technologies and strategies to scale and grow their business efficiently.