Discover the toughest thing for entrepreneurs to let go of
Photo credit: Pablo by Buffer
It comes down to adapting to change and letting go of what you knew worked best when you started up your company. I have observed in many a friendly business and even I have been resistant from time to time abandoning a success recipe. After all, that is what got you this far. Challenge is that a business has stages very similar to human life. When maturity hits and we need to hire more people and build up a lot of infrastructure it is tough letting go of the figment our imagination that we call control. We should be hiring people that are much smarter and better equipped than us. We should be delegating and letting middle management take over control over most if not all important parts of our businesses. The one thing that keeps us from moving on is fear.
Fear is one of the most powerful emotions we have. Take for instance the fear of loss. No one wants to lose anything that we have an emotional attachment to. That applies to things, relationships, feelings, etc. Very often we may not even necessarily know if what we are attached to is good for us. What if letting go is the best thing that could happen to us? In this particular case we are afraid to lose our business if we changed the tried and true original business model. Don’t take my word for it. Here is a link to a fabulous book by friend Craig Hughes “The Self-Driving Company: How Getting Out of the Way Enabled My Business to Thrive”. This is the book to read when your start up business is stalling, you have employee turn over issues, you find yourself totally exhausted because you feel like you have to do everything, etc.
A good analogy to being held back by your old beliefs and the things that you are intensely focused on is the way how some monkeys are being caught in Africa. Food or other similarly interest sparking materials are being placed in a space the monkey is surely going to notice. That is typical a hole dug into the ground or an existing cavity in rock formations. When the monkey reaches into the hole grabbing the “bait” his hand no longer fits through the opening of the cavity. The catcher now fast approaches the monkey with the intention to scare him. The monkey stays caught because he does not want to lose the precious things he is holding in his hand (Discover this in action). The more he panics, the tighter he holds on to the loot.
Isn’t that a little like our entrepreneurial situation? The tighter we hold on, the more we get stuck and we get caught. So here is my call to action: Whenever you feel you have run out of options and you do not want to lose what you are attached to, please let mentally go of this attachment. Watch how liberating a feeling it is to look AT your situation and not FROM the middle of it. Ponder if letting go of the old isn’t the best thing that you should do.