What Should You do When You Feel Like Giving up as an Entrepreneur

Source | Entrepreneur : By Dr. Finn Majlergaard

We all hear about the famous successful entrepreneurs who earn both millions of whatever currency and the admiration of thousands sometimes millions of people. And the rest of us – we want to become like them. We want to become famous, we want to make a difference in other people’s lives with our idea and we want to earn some money too.

I left corporate life in 2001 to start my own management consulting and training firm, specialised in how we can leverage the cultural diversity and make businesses succeed globally in a multicultural world. There have been great times, average times and tough times like in every other business and in life in general.

I have started up a number of other companies since then and the pattern seems to repeat itself.

When times are tough and you consider giving up and just get a job like most other people this is the time where you have to sit down and think carefully. You became entrepreneur for a reason. You became entrepreneur because you wanted to make a difference, because you had a great idea and because you have a passion for pursuing this idea. That despite it is associated with a big risk both financially, socially and mentally.

Here is what you I think you should do next time you think about giving up as an entrepreneur

  • The famous and successful entrepreneurs are of course great to use as beacons, but don’t consider yourself a failure if you are not yet a multimillionaire and featured in magazines around the world. There are many factors contributing to success of an entrepreneur. There are of course creativity, skill, resources but also luck, timing, relationships and coincidences. The last 4 play a much bigger role than you might think. So prioritise developing relationships with as many different people as possible. You never know where the next customer or investor comes from. And you never know who can help you connect you to the right people who can help you forward. When I look back almost all the successes we have had seemed to have started as coincidences or luck if you like.
  • Surround yourself with other entrepreneurs. It is a tough call being an entrepreneur if all your family and friends are working in a corporate environment. They will have no or very little understanding of what you are going through. Some of them might even just wait for you to give up and get a proper job. If you are together with other entrepreneurs (try to make that group as diverse as possible) then you can support each other when you need it most. Personally I have realised that I am most creative and innovative when I am under pressure. I know we are all different but try to find the positive outcome of every situation you find yourself in.

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