The decision to build your own startup is not something that happens overnight. There is a lot of uncertainty that is tied up into the entrepreneurial pursuit; it requires sacrifice that not many are prepared to make and often entails consequences that not many know how to recover from. For these reasons, a mindful entrepreneur understands the importance of researching as much as they can about the process before they decide to live it out personally.
This research is effective because it aids in setting realistic expectations inside the mind of an entrepreneur so that they don’t go into the process completely blind. By learning about startup culture through the experiences of other entrepreneurs, it is a way for an individual to foreshadow their own potential business venture, envisioning a list of likely failures and successes.
Instead of inspiring a healthy amount of caution in aspiring entrepreneurs, these stories of caution can sometimes culminate a dangerous air of confidence in the minds of other entrepreneurs. What results from this is an inflation of ego and what follows is an intentional scoffing at the failures of other entrepreneurs and the goal to prove that building a startup is, in fact, not as challenging. These entrepreneurs want to make it their mission to showcase “the right way to do it.”
More individuals are trying their hand at entrepreneurship than ever before, which means that the number of small businesses trying to make a place for themselves in such a competitive market has been on the rise. But, sadly, a higher number of entrepreneurs and small businesses means that there has been an increase in the number of failed startups. Nine out of every ten small businesses fail, sometimes at the fault of the entrepreneur or sometimes at the mercy of unpredictable situations.
Failure is an aspect of startup culture that still has yet to be addressed. Many entrepreneurs view failure as a permanent ending rather than a fault to learn from. They view startups as an extension of themselves because it has been so deeply rooted within them and the sacrifices that go into breathing life into a vulnerable company take so much from an entrepreneur. Entrepreneurship is demanding both financially, mentally, and physically. It so quickly becomes the focus of an entrepreneur’s life, which becomes a passion and, if not approached with mindfulness, an obsession that blurs the lines between work life and personal life.
For many, this endeavor is meant to be their life’s work, something tangible that they can show, with pride, to others as evidence that they were more competent than entrepreneurs before them – that they had the necessary traits in order to do something that 90 percent of other people attempt and fail. It is when the excitement begins to fade and the anxiety of entrepreneurship begins to creep in that small business owners realize just how challenging growing a startup can be.
Because failure has such a negative connotation associated with it, it is not only hard to accept, it is hard to admit. This is why many entrepreneurs are so hesitant to open up about their struggles and openly communicate about their mental health. It is this disconnect between expectation and reality that leads some entrepreneurs down a dark, isolated road. These thoughts are hard to traverse, especially when kept bottled up inside, leading more entrepreneurs to contemplate and carry out suicide to escape their feelings of worthlessness.
Mental health has become a very real and serious aspect of entrepreneurship, one that many people find too difficult to address. Suicide is not a decision that happens overnight. It is something that builds over months and years of utter helplessness and the deeper one goes into these thoughts and the tighter one grasps at this way of life, the harder it is to let go and let positivity in.
EIN Cap takes the success of small businesses very seriously. We know how much financial uncertainty plays into the anxiety of entrepreneurs and the demise of startups. That is why we specialize in business financing options that are intended to help alleviate this weight that rests so heavily on the shoulders of aspiring entrepreneurs. We work directly with small business owners to help provide them with the financial security that they need in order to keep their business en route to a successful future.
Our funding options are intended to provide entrepreneurs with peace of mind so that finances are not at the center of their focus, causing unnecessary stress. One of the ways that we do this is by offering merchant cash advances to small business owners instead of traditional loans that you would find at a bank. This form of funding offers a more personalized repayment plan, easing up the restrictions that other small business financing options put on small business owners. Instead of a fixed monthly rate, the amount owed will be a small percentage of your daily sales. If you are having a slow month, then you won’t be hit with a hefty monthly bill that will cause additional financial distress.
We hope that by focusing on this one major area that is often the cause of the most pressure, we can help entrepreneurs seek some help so that they have one last burden to be consumed by. With less stressors to think about, the hope is that they will be more focused on cultivating positivity.