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- Oct 15, 2018
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Hi guys,
I've been thinking a lot over the last few weeks about how I've never really followed through with an idea for a brand or product. I always thought it was Shiny Object Syndrome and the fact that when it got serious, I just didn't dare.
After some reflection, however, I think it's a deeper problem, namely extremely heightened loss aversion that is almost pathological.
I just have an extreme panic about investing capital in ideas for brands, products ... Anything that requires a larger investment than around 2k is currently beyond my capabilities. I guess this is also related to the fact that I don't have too much capital to invest.
(Briefly on the topic of mindset: I'm sure there are many now who think I have a fixed mindset. That's not the case, even if it sounded that way. I know that I will overcome this increased loss aversion. But I also know that it will take time, probably a lot of time.)
Since I'd like to start in e-commerce because that's the industry I'm most interested in, of course I haven't gotten very far with my loss aversion. I haven't implemented a single project in the last few years, except for one. With this specific project, I knew in advance that there was a need. I knew how much the products would cost and from which producers I could get them. I even knew pretty much in advance how much sales I was going to make. So that was a project where I knew 100% that it was going to work - and even on that project, I had to get a partner on board because I wouldn't have been able to invest 6k on my own. Anyways, that project is dead for various reasons and since then I was not able to start something new.
Quitting entrepreneurship and just being happy with my current 9-5 job is not an option. In fact, although I basically really like my job, I hate the fact of being dependent on an employer. My current work situation is even causing me depression. I need to get going on my own.
So, since I really want to continue with entrepreneurship because being an employee is not a long term option, the question is what are my options? (I can't really start with e-commerce with 2k - in my country it takes around 1.5k to just register a brand. So I guess I have to bite the bullet and start a business that I am not that interested in - assuming that I find a need.) Maybe a service business or freelancing? That wouldn't require as much capital to get started. Are there any other options that I might not be thinking about right now?
Thanks.
I've been thinking a lot over the last few weeks about how I've never really followed through with an idea for a brand or product. I always thought it was Shiny Object Syndrome and the fact that when it got serious, I just didn't dare.
After some reflection, however, I think it's a deeper problem, namely extremely heightened loss aversion that is almost pathological.
I just have an extreme panic about investing capital in ideas for brands, products ... Anything that requires a larger investment than around 2k is currently beyond my capabilities. I guess this is also related to the fact that I don't have too much capital to invest.
(Briefly on the topic of mindset: I'm sure there are many now who think I have a fixed mindset. That's not the case, even if it sounded that way. I know that I will overcome this increased loss aversion. But I also know that it will take time, probably a lot of time.)
Since I'd like to start in e-commerce because that's the industry I'm most interested in, of course I haven't gotten very far with my loss aversion. I haven't implemented a single project in the last few years, except for one. With this specific project, I knew in advance that there was a need. I knew how much the products would cost and from which producers I could get them. I even knew pretty much in advance how much sales I was going to make. So that was a project where I knew 100% that it was going to work - and even on that project, I had to get a partner on board because I wouldn't have been able to invest 6k on my own. Anyways, that project is dead for various reasons and since then I was not able to start something new.
Quitting entrepreneurship and just being happy with my current 9-5 job is not an option. In fact, although I basically really like my job, I hate the fact of being dependent on an employer. My current work situation is even causing me depression. I need to get going on my own.
So, since I really want to continue with entrepreneurship because being an employee is not a long term option, the question is what are my options? (I can't really start with e-commerce with 2k - in my country it takes around 1.5k to just register a brand. So I guess I have to bite the bullet and start a business that I am not that interested in - assuming that I find a need.) Maybe a service business or freelancing? That wouldn't require as much capital to get started. Are there any other options that I might not be thinking about right now?
Thanks.
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