How To Survive A Business Identity Crisis
It starts with a dream.
Then hope leads to excitement and finally to joy.
But wait, no happy end yet.
Because it turns out dreams don’t all come true all on their own.
Disappointment, then frustration, then anger or sadness, followed by another wave of optimism before a devastating blow, a wake-up call, and finally, definitive action.
Can you guess what I am describing?
Maybe it sounds like a teenage romance story or a Hollywood story but actually, I am writing about the early start of every business. Even for senior professionals with 20%+ years of work experience or people who have owned a brick-and-mortar business, the online business world is the Wild West. You are always starting from scratch and need to re-learn almost everything. Let's examine the five phases of business growth for a first-time online business owner:
Phase 1: Euphoria Honeymoon Phase
Otherwise known as uninformed ignorance. This is the giddy happy phase where a person is naive and hopeful, thinking they have it in them to succeed in business. They were usually inspired by someone they saw online or maybe a live talk they heard by a successful person. They change their LinkedIn title to “Business Owner” or something of that nature and are filled with excitement about their bright future ahead. They usually spend more time pondering over which fancy logo design they need or tinkering with their content than actually building any sort of business. They have no idea what is in store. Because if they did, they wouldn’t be giddy at all. Most of all, their expectations are so out of touch with reality that it hurts to watch yet they are so happy it would be devastating to burst their bubble so we leave them to believe.
Phase II: Uphill Climb With Bare Feet
Phase two is informed pessimism. Now the person knows that entrepreneurship is not as easy as they thought it would be. They realize that someone will have to handle Sales, Marketing, Operations, IT, Customer Service, HR, Finances, and Business Development. Since they…