From leaving traditional 9-to-5 jobs to being unsure of when their first big business deals will come in, first-time founders must overcome many challenges that their corporate counterparts will not face in their careers. Sharing these stories with fellow entrepreneurs can provide helpful learning experiences. That’s why we asked nine entrepreneurs from FounderSociety the following question:
Q. What was the scariest part of starting your own company?
1. Being Your Own Boss
A big challenge for every entrepreneur is taking full responsibility for the success and failure of their companies. Being able to self-discipline and motivate yourself might seem easy at first, but it was the hardest part for me as an entrepreneur–getting in a habit of kickstarting myself. Being your own boss means being your own employee, as well, and that responsibility can be intimidating. – Elena Kosharny, FIVE AM INC
2. Leaping Into a New Industry With No Safety Net
I quit my day job at a tech startup to dive headfirst into my food startup that had no money to pay me for eight months. I had no experience in food and spent a few weeks talking to every food entrepreneur I could just to figure out where I should be spending my time. I hooked a few PR consulting gigs together to pay rent and keep my expenses low. Fortunately for me, these tactics paid off. – Lisa Curtis, Kuli Kuli
3. Needing Clients Immediately
A few months prior to starting my company, I lost my contracts in the recession as a consultant. I was running out of money when inspiration hit, so I created eFlirt two days later with $50 and a Twitter account. Needing clients ASAP to take care of myself was scary, but it forced me to get creative with lead gen. Six years later, my imperfect start is an asset anytime business needs to shift. – Laurie Davis, eFlirt
4. Fearing the Unknown
Starting a company and leaving the security of a full-time job can be the hardest hurdle for some to overcome. Most are struck with the fear of the unknown and what may (or may not) happen. When I started SparkReaction, I was also working a full-time job for the first year to try and reduce some of the risk, but I eventually had to jump full-fledged into the unknown in order to grow the business. – Josh Ames, SparkReaction
5. Hiring Great People
The scariest part of starting my company was creating a culture of people who care about each other and feel cared for in return. There's a lot of pressure when hiring great people and taking a step back so they can do their best work, but it's worth it. – Jules Taggart, Jules Taggart Marketing Strategy
6. Doing Something That Hasn't Been Done by Anyone I Know
Having conviction in my idea was one thing, but following through with actions was the scary part. Not knowing which way to step first or how to go about making it all come together in the way I envisioned were tough areas to execute. All I had was a new, untested concept and my gumption. The uncertainty of it all was a bit nerve-racking, but the possibilities of what could come of it was enough to keep my excitement going. – Jessica Baker, Aligned Signs
7. Nobody Knows You (or Cares)
It was scary (but also thrilling) to know that there was no safety net under us when we decided to open up shop. Doing it all on your own, you quickly realize that every job you do could be your last; the jobs you do for your clients need to be very buttoned up, otherwise they won't recommend you moving forward, which is not good for building your (new) reputation. – Michael Wasilewski, Frank Collective
8. Your Success and Failures Are Your Own
Realizing that your next paycheck is no longer guaranteed and coming in on a weekly basis is absolutely terrifying. While everyone likes to focus on the dreams of working for yourself, few realize the real stressors of being an entrepreneur and being solely responsible for your own successes and failures. – Zac Johnson, Blogging.org
9. The Uncertainty in Almost Everything You Do in the Beginning
Without any customers, data or trends, it's very difficult to know what the best way forward is. It takes courage to be vulnerable with what you put out there–when your website first goes live, or when you're launching a marketing campaign. And a lot can go wrong, not all of which you can control. It's scary, but also exciting, and success after having experienced these hurdles is truly fulfilling. – Michael Rheaume, SnapKnot Inc.
