In honor of Global Entrepreneurship day, I wanted to talk about the emotions of starting a business. Often times we celebrate success – but not the journey to success, particularly the first steps.
I have started multiple businesses, and the truth is that despite relative success, I am not sure that I know what I am doing. This lack of coherence often surprises my staff and my friends. They expect that an entrepreneur should simply know what the next step is. Sadly, there are few guides and even fewer guideposts. Entrepreneurs move persistently forward, even when the goal is not clear or even known.
Entrepreneurship is vague and chaotic. Despite what many policy makers think, it is not an assignment in school or a project at work. There are no simple solutions to complex problems. The people who become entrepreneurs are special, unusual beings that are able to overcome through persistence and positivity when most the goal seems unreachable.
As an entrepreneur, I feel that the biggest challenges are the ones that you do not see (for more information see COVID, 2020). Not just because they cause you to have to mentally adjust, refine and evolve, but because they are emotional blows that require strength to absorb but also courage to confront. Emotional resiliency is one of the keys to entrepreneurship and if 2020 has taught us anything it is that emotional resilience is a critical life skill, not just one for entrepreneurs.
We Are A Country of Immigrants
While emotional resiliency occurs across the socio-economic spectrum, I believe that a unique attribute of the U.S. that makes us good at entrepreneurship – is our willingness to accept and even lift up immigrants. Immigrants to the United States are particularly successful entrepreneurs. According to a 2016 study, more than half of the billion dollar enterprises created this century were founded by immigrants. Thus, as a country, it seems obvious to me that embracing and empowering greater immigration is a good economic strategy.
I think (with literally no proof) that emotional resilience, like many human emotions, can be trained by flexing the muscle. It is not about inserting emotion into one’s life, but about training oneself to go on – even through hardship. This is one of the reasons that I think sports are important for children – because it helps them lose – not gracefully, per se. But, it creates an environment where emotional resilience breeds personal improvement and team effort. Losses require the team to keep on going – persisting despite a recent result or downturn. It is about the journey, not the destination.
This suggests that we should see a strengthening of our individual and community’s resolve during 2020. We, collectively, have faced hardship. We, collectively, need to persist during this long winter which will include many sad, heartbreaking times. Though this fire will test us, I believe it actually creates an environment rich with the possibility of emotional and personal growth. That now, more than ever, there is an ability to believe in something and then execute it to make it happen. This year, my team and I have started multiple efforts – including Mug.News. We have confronted the challenges in our life and have attempted to build something to let in the light.
We believe the future will brim with entrepreneurs, new ideas, and a resurgent set of entrepreneurial businesses.
I am writing today to thank you for reading, and to let you know that we believe that entrepreneurs’ stories should be told. 2021 promises to be a special year for Mug.News and also for entrepreneurship in this country. The emotional resilience and persistence shown by people to make new things happen, despite numerous hurdles, reveals true character. Entrepreneurship reveals this character every day in this country. Please honor your entrepreneurs – but also honor their persistence and ability to overcome difficulties.
As you reflect on this terrible 2020, reflect on lives spent building amidst this type of chaotic, nihilistic feeling – and know that this is the battle for many entrepreneurs in your community. Building, despite anxiety, sadness, and anger, something that will be celebrated…eventually.
Celebrate persistence not just success.