What It’s Really Like To Run A Business
Summary
- Building a business requires making unexpected sacrifices at every stage, and these sacrifices can't always be anticipated beforehand.
- Success in business is not solely about working long hours; it's about making hard decisions and taking risks that others might avoid.
- Elon Musk describes running a business as "staring at the abyss and eating glass," highlighting that you constantly face the possibility of failure (staring at the abyss) and must deal with the toughest problems (eating glass).
- As a business owner, you're often faced with problems no one else can solve, where the nature of your responsibilities brings unique challenges.
- With every new level of business growth, you will encounter different types of difficulties, akin to unlocking new levels of complexity, requiring you to adapt and persevere.
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How To Take Action
I would suggest implementing the mindset that business is more than just about long hours. It’s about braving the risks and tackling the tough decisions head-on. Start small: identify one major issue that's been sitting on your plate and take a leap to address it. This builds your tolerance for "eating glass" – those tough, unavoidable problems.
A good way of doing this is to set aside time each week to figure out what new sacrifices or changes you need to consider to move forward. Maybe it’s a tool you're resistant to try or a conversation you’re avoiding. Pinpoint it, and tackle it, even if it seems uncomfortable.
Consider writing down the risks you’re aware of and brainstorming solutions or preventive measures. This habit makes facing the "abyss" – the fear of failure – less daunting because you've prepared yourself to manage potential setbacks.
For entrepreneurs, embrace the journey. Each stage of your business will bring new problems. These aren’t signs of failure but growth. Learn to adapt by reflecting on each challenge and focusing on what it teaches you. This adaptability becomes part of your strength as a leader.
Finally, remember, you don't have to solve every problem alone. Building a support system with mentors or other entrepreneurs can provide insights and help lighten the load of those "glassy" challenges.
