My Mindset Almost Killed My Startup
From the mistakes I have made with my startup over the past year, I can pinpoint it to one thing — my mindset. How I reacted to my thoughts and emotions in some of the most mentally taxing times drove me to make some poor decisions and this was my biggest oversight:
I put the focus on producing rather than learning. Learning is every startup’s competitive advantage to existing industry incumbents
The only way to win is to learn faster than anyone else. — Eric Reis
I may sound like I’m being a bit hard on myself, but it’s taken me some time to shift the perspective of my failures as something I needed to go through. Those failures were a necessity for me because they were growth opportunities to become the person I am today.
I can confidently say I now am more equipped to build a successful business than the person I was a year ago. I am proud of myself for deciding to to keep going when I felt all was lost. Please excuse me while I show myself some love — I’m very hard on myself and don’t do it enough!
Becoming is better than being. — Carol Dweck
January of 2017 I left my stable full-time with a bit of a chip on my shoulder. I was a Senior iOS Engineer/Product Manager and this was my second time doing a startup. I spent years programming and helping build apps for big brands.
They say if you knew how hard it was to build a business you wouldn’t do it .I laugh now because back then I told myself, “I’ve built plenty of products. This is going to be hard but it shouldn’t be that bad”.
I had an idea for an app to help people deepen their meditation practice and because of my ego, I went straight to building. I ended up with one of the most common situations founders find themselves in — a product that nobody wants and/or knows about. I skipped some critical steps, I never challenged my assumptions and talked with customers.
A year later with a tiny bit of revenue and no traction to show for it, has thankfully humbled me and brought many other lessons I’ll blog about in the coming weeks.
From the majority’s perspective, the most logical thing for me to do is not start a company. I’ve got college debt. I’ve been in a serious relationship for 6 years. I am 2 years away from 30. Because of where I’m at in life, there are many expectations. These expectations resulted in anxiety that caused many miscalculations and many opportunities to learn from my miscalculations!
I made the leap and I initially had nothing to show. Needless to say, it sucked when at family and friend gatherings people asked, “How’s the business going?”
Having “nothing to show” when that question arose was tough on my ego. I wanted show something shiny like “Wow, look at me and this fancy app”. As soon as I left my job the clock started ticking — not because of my savings in my bank account (well, that too), but because I felt like I had something to prove. Time was very limited for me to prove to those closest to me that I could do this.
I wanted to show to my parents, my siblings, my girlfriend, and my friends that I wasn’t completely irrational by pursuing a newfound sense of purpose. I wanted to show progress with tangible results so they would think “Wow, Julio is crushing it and is not completely nuts”.
I don’t blame them. It is how I perceive and react to this question that brings on that external pressure. I am accountable and responsible for what action I take next. Do I rush the process and produce or do I stay disciplined and learn? Do I even bucket that question as pressure or a genuine interest in me?
Between stimulus and response there is a space. In that space is our power to choose our response. In our response lies our growth and our freedom. — Viktor Frankl
I’ve made a commitment to myself that I’ve kept, which has not only increased my output but increased my confidence and self worth. I believe I can increase my chances of success by focusing on my mindset and working on it every single day.
The most important investment you can make is in yourself. — Warren Buffet
I will be the first one to say that I’m still working on my ego and how I react to self-imposed external pressures but this is what I’ve would told myself at day one:
- Build a group of advisors and mentors — I’m now working on a list of people who are subject matter experts in areas I will need and also from a higher level, people who represent the person I want to be in 5–10 years to come. Mentors and advisors are helpful to challenge my assumptions and give me guidance in areas I lack, but more importantly by doing this I am saying to myself, “I can’t do this alone. I don’t have all the answers. I need to ask for help. I want to learn from you”.
- Read 1–2 hours a day — Reading other stories of entrepreneurs, such as Shoe Dog and Elon Musk, have shown that it’s not all smooth sailing and given me inspiration at my lowest points. Reading about personal development, such as Growth Mindset and The 7 Habits Of Highly Effective People, have shown me a new way of thinking that has allowed me to appreciate the journey and be more intentional about how I live. Reading business books, such as Crossing The Chasm and When Coffee and Kale Compete, have taught me more strategic ways of executing my vision.
- Give more time for myself — Now, I am disciplined about my morning routine. I put that first and foremost before anything else because it sets the tone of my mindset for the rest of the day. I may not always wake up at the same time but you can bet I will always do a cold shower, meditation, reading, and journaling each morning — even weekends. I used to struggle with this — am I being selfish? I reframe it as I can’t be of service of others if I’m mentally and physically unfit or burnt out.
- Communicate my internal progress — I may not have direct business results to show such as # of paying customers or Month-over-Month Revenue Growth, but I can communicate areas I’m focusing on learning that I lack in. Areas such as market segmentation or the right way to ask questions to users to identify their struggle. I can also communicate relationships that I’m building.
I hope you found this valuable. My only ask is: what did you think about this? Have you struggled with some of the same issues? If you’re not comfortable with leaving a comment, feel free to email me at julio@zencompass.co.
Originally published at julioarivera.com.
