I remember staring at my empty bank account, the silence of failure weighing on my chest. Two businesses down, and I was back where I started—panicked, scrambling for survival. At that moment, survival wasn’t just a concept; it was a desperate reality. I had no plan, no safety net, and no choice but to rebuild.
Looking back now, I see exactly where I went wrong: I jumped into business on a wave of emotional excitement, without a solid plan to catch me if things went south. I didn’t stop to ask the hard questions:
“Do I have a safety net?”
“What’s my plan if this doesn’t work out?”
When the pressure mounted, I felt like I was drowning. And let me tell you, business failure doesn’t just empty your bank account—it crushes your confidence. It makes you feel like you’ve let everyone down: your family, your dreams, and most painfully, yourself.
Here’s a reality check no one hands you upfront: starting a business is the easy part; sustaining it is where the real battle begins. The dream of being your own boss is intoxicating, but it can blind you to the emotional and financial toll. The good news? You don’t have to make the same mistakes I did. Let’s dive into some hard-earned lessons—and a bit of science to help you navigate the journey.
The Emotional High That Can Lead to a Crash
Have you ever been so excited about an idea that you could feel it in your bones? That’s the power of emotions. But here’s the problem: our emotions often play tricks on us, thanks to something called Affective Forecasting.
This psychological concept explains how we predict our future emotions—and more often than not, we get it wrong. Enter Impact Bias, a sneaky tendency to overestimate how long and how intensely we’ll feel a certain way.
When I started my businesses, I was riding an emotional high. I imagined the freedom, the pride, the joy of building something meaningful. I was convinced that these feelings would carry me through any challenge. But reality had other plans. As the day-to-day grind set in, the excitement faded, leaving me overwhelmed and underprepared.
Here’s the thing—you can prepare for this.
Lessons for Sustaining, Not Just Starting
Starting a business feels like a dream come true. Sustaining one? That’s where most people falter. Here’s what I wish someone had told me before I left my job:
1. Buy Yourself Time
Save at least two years’ worth of living expenses. This isn’t just a financial safety net; it’s peace of mind. It gives you the freedom to experiment, make mistakes, and figure things out without the constant pressure of “making it” overnight.
2. Test, Don’t Guess
No matter how brilliant your idea feels, test it before you go all in. Build a Minimum Viable Product (MVP), get real-world feedback, and validate your concept.
Example: I knew a friend who spent thousands perfecting a product, only to discover no one wanted it. Had they tested first, they could’ve saved time and money.
3. Separate Survival from Business
Never fund your day-to-day living with business loans or credit. Keep your personal and business finances separate. Otherwise, you’ll quickly find yourself trapped in a vicious cycle of debt and stress.
4. Pick Partners Wisely
Partnerships can make or break your business. Only partner with people who are equally invested—emotionally and financially. If they’re not putting skin in the game, you’ll end up carrying the weight alone.
5. Prepare for the Unexpected
Life happens—medical emergencies, family crises, unexpected expenses. Keep an additional 20% buffer in your savings for these moments.
Why? Because the unexpected is inevitable, and being prepared gives you the stability to keep moving forward.
6. Don’t Quit in a Rush
I know how tempting it is to walk away from your job the moment you feel inspired, but don’t. Treat your current job as your launchpad, a training ground where you can test your idea while still earning.
Your challenge: Spend at least three months validating your business before making the leap.
7. Understand Your Audience
You don’t need to be a marketing expert, but you do need to understand your customers. Learn how they think, what drives their decisions, and how they engage online. This insight will be your secret weapon in building a business that truly resonates.
8. Mindset Matters More Than You Think
Entrepreneurship is a rollercoaster. Some days you’ll feel invincible; other days, you’ll question everything. The key is to develop emotional resilience. Understand that expectation vs. reality is a constant battle. The more prepared you are to pivot and adapt, the stronger you’ll be.
A Behavioral Challenge for You
Here’s your first step toward smarter entrepreneurship:
Write down three actions you’ll take this month to validate your business idea while still at your job. Commit to them. Share them with a friend or in our community for accountability.
Final Thoughts: Build Smart, Dream Steady
Failure taught me what success never could. Starting a business isn’t just about chasing a dream—it’s about building something sustainable, something that lasts. And while passion will spark the fire, it’s preparation and resilience that will keep it burning.
Thousands of aspiring entrepreneurs are reading this right now, just like you. Share your progress, your wins, and even your struggles. Let’s grow together.
So, are you ready to take the first step toward your dream?
