Seek comfort in an uncertain startup journey

I hope you're doing well.

What's packed in this week's post

💡  Where do I seek comfort in an uncertain startup life

🔥  Hard on things and soft on people

📈  How startups can leverage Data for Success

💣  New tool for the week

🚨  New podcast episode from Founders Lane

Where do I seek comfort in an uncertain startup life?

Building a startup is exciting and filled with great moments, ups and downs. But for the most part, startup life is uncertain. Like any other business, there are risks in building, operating, and scaling the startup.

• your product may fail to meet customer needs
• unable to generate revenue
• running out of money to operate the startup
• key team member leaving
• regulatory change or market shift (like COVID did to the travel industry)
• and the list goes on...

As a CEO & Founder of a startup, my responsibility is to set the direction for the company, build resilience and great culture and deliver value to customers.

Over the last year, in particular, my core team has invested over $200K worth of their time in setting up MyGigsters. We have spent over $120K in building the startup and have sacrificed social life, family time, sleep and a lot to get where we are today. The funny part is we are just starting 🤩

So with so much at stake here complimented with a lot of uncertainty, what do we do?

Three things that I chose to hold on to that provides me comfort

• Team - Your team is essential, and they make or break your startup. Investing in great culture is key. Trusting your team and sharing the journey with them allows me to be challenged, guided, supported and focussed on our goals.
• Family - My family allows me to spread my wings, explore the unknown and take risks (that impacts them). My daughter and son constantly remind me, 'Daddy, what would your story to my future self?'
• Purpose - Driven to make a difference, provide value to others. Trusting in the process and not the outcomes allows me to follow my heart and hustle in my startup life. The startup is not about success; it is about solving problems for someone that would make their lives better.

A quote from my previous manager that I loved. We sometimes forget to understand that people make the company, and creating a psychologically safe environment is key to building a great culture.

I love my team, but I am an aggressive leader, and I always push my team to think and do 10X. Many nights, I have gone to bed thinking that we are not moving fast, not pushing the boundaries and challenging the status quo. But none of these changes the way I treat my team and my relationship with them.

Making the team accountable to tasks and autonomy to make decisions enables us to build a high-performing team. The next time you are  in a meeting, remember 'Hard on things, Soft on people'

BeingBenje has its first guest post from another blog author - Rahul
Check it out there 👇

How startups can leverage Data for Success

How startups can leverage Data for Success

Founders LaneBenjemen Elengovan

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New episode on Founders Lane

It is a pleasure to have Goutham Bandaru on our Founders Lane.

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Arrived in Australia as an international student and continued to build his professional career in international student placement in Melbourne before taking the bold decision to start his own venture.

This episode is packed with stories, challenging moments in startup life and more.

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Founders Lane

Welcome to this podcast channel Founders Lane is a place for aspiring first-time founders to listen to powerful stories from other exceptional new-gen entrepreneurs who are building notable businesses. This channel shall share startup lessons and ...

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