For e.g. we are trying to build a periscope camera to help you take photos when you are a concert and are not tall enough or have arms that are not long enough to take them. This will be connected to your smartphone so you can look at the lens from your phone before you take the photo.
This project was my attempt to launch and manage a kickstarter campaign. We have 2 college students who have the capability to build the Raspberry Pi based controller and I was the marketing and kickstarter campaign guy.
There’s a point in time when you fantasize about these side-projects becoming your “$19 Billion exit”. Then reality hits you
daily every hour. Even if you have cofounders, you will realize quickly that being an entrepreneur is a long and lonely journey. That means you will have several conversations with yourself.
I tried to capture my own “self-conversations” or “selfies” over the last few projects to understand the moments of doubt, fear, exhilaration, stress, joy.
Lets start with the idea. Most people get exhilaration, but I get doubt as well. It seems to me that having listened to 1000′s of ideas as a judge, VC and investor, there are no new great ideas any more. Then again, if you are unable to sleep at night and want to write down, code or document all your thoughts, this is the best stage of emotion.
Then you get to joy – for me that comes from a shipped product (call it MVP, beta, alpha, anything). Not necessarily the point when customers or users are using the product, but just when you get it “out there”. The time when you can declare on your FB profile or on your Twitter stream that “Product X is live” or “Launched Product X”, followed by a call for people to try it out.
Fear hits next when you either a) get a lot of users and many complain on Twitter or a Blog post you have written that they dont “get it”. Most people rarely get version 1 of anything. You as a founder tend to then worry about whether all the time and energy you spent over the last few weeks / months / years was even worth it.
Stress comes after that when you try to pivot and change multiple times to figure out “product market fit”. The stress comes from your own internal battles to tune, fix, change and modify your project in a race against time to keep your “self funded” project from dying.
Finally this stage ends with doubt – on funding, market, customer validation, hiring, investments, a whole entire host of self critical analysis and paranoia that results in hopefully a finish that comes back to exhilaration – of the funding round, the customer traction or a new, smart hire.
Going by the numbers in my own entrepreneurial network, I’d say exhilaration post these 5 emotions is on the rise. That’s a good thing. A very good thing.
Is it a bubble? I have been asked. I usually reply – Who cares.
There’s an “orgy” going on next door (Silicon Valley) we are busy arguing the size of “condom” we are trying on. Dive in, the water is warm.