A couple of days ago a founder of another startup asked me, how I manage the pressure of “time & money”. I would like to share this with you as well.
The Startup-world is amazing… the speed is amazing… the new experiences you make every day is amazing… meeting all this clever and interesting people is amazing… However, there is also a downside to this…
As a Startup you are continuously under pressure: finding investors/money, have the right team & get the product to the next phase and don’t forget the customers. Mainly if you manage the first phase with your own money, the pressure is huge. You know upfront, that the money will not last forever, and you need to make progress. That’s probably also the reason why there are like two opinions. Some people recommend looking first for funding, before you even start with developing a product. Others say, you need your MVP (minimum viable product), otherwise you will not be able to find investors or have to sell for a low price. We went for the approach funding the first phase (until MVP is live) with our own money. The founder who approached me is in a similar situation and therefore feels the same pressure.
People who have worked together with me in the past, know how impatient / demanding I am (which is probably quite normal for project managers and founders), which does not make it easier.
So, how to manage this on a day-by-day basis, if you continuously worrying being too slow and if you only see what you have not yet achieved?
The magic thing… you need to appreciate what you have achieved so far. This sounds very simple, and you know what? It really helps! If I meet people I have not met for a couple of months and share our progress, I get every time the same reaction “Wow – this is amazing!”. And they are right…! Within less than 12 months we have built up a running system (we will open for registration soon), first membership agreements are signed, first meetings with potential investors done and most important – YOU! Our “StartupSpider”-friends /-Community is growing, and we are getting so much positive support from you!
I am still impatient, but appreciating the progress and your feedback, I feel much more grounded!