My first six months in Wisconsin were interesting to say the least. Ryan Paugh and I lived on $1,000 a month in a beat up old house on the East Side of Madison. We worked from home, we rarely went out, we fought with each other, we fought with Penelope, and we watched the snow pile up on the cold Wisconsin ground month after month.
By all accounts, it was pretty terrible. I was used to having lots of friends, going out all the time, and counting on a good paycheck to come in every other week.
But then we raised some money. We took bonuses, we got regular paychecks, we hired people, we rented an office, and I moved in to a nice place with my brother and bought a flat screen TV. It was great. It was comfortable.
It was boring.
Any true entrepreneur will tell you that the best time in the life of a start up is the beginning. You work tons of hours and you can’t wait until you’re funded because that’s when you’ll be able to do the things you really want to do.
But once you get funded, the headaches just begin, and it starts to feel like a “real job.” It’s easy to get comfortable, to forget about all the hard work you put in before there was cash in the bank. And strangely enough, you end up wishing you could go back to the beginning or sell your company and start a new one.
Rather than being completely focused on the company, I found myself walking down the street, sometimes nostalgic about the little apartment Ryan and I lived in and sometimes dreaming about our big exit and all the money that would come with it.
Then, before we even realized what was happening, the market crashed, investors pulled back, and we didn’t have salaries anymore. The whole company had gotten too comfortable; we weren’t prepared to handle the downturn.
But oddly enough, three months later, things are going really well. We made a decision to switch up our business model and bring in revenue any way possible. Every dollar we make is treated like gold, we’ve managed to cut our burn rate by nearly 50% without losing any productivity, and we’ve realized just how many ways there are to make money, without begging someone for a multimillion dollar investment
I’m confident that we’re going to make it through, and I’m convinced that when Brazen Careerist does end up a success, we will have George Bush to thank (Did I really say that?). The recession allowed us, or some might say forced us, to reevaluate and start over.
In a way, I did get my wish, Brazen is like a brand new start up, except we have a site that’s already built, we have founders who have all done this part before, and we have a whole army of people that want us to succeed.
I’ve learned a lot from this whole experience, both personally and professionally. Difficult situations are the best learning opportunities; when things are good it’s very difficult to see how you can improve. But when times are tough you have the opportunity to make difficult, life-altering decisions. Great businesses and great leaders embrace difficult situations and thrive when times are tough.
The question is, when adversity is staring you in the face, will you get comfortable, or will you embrace the adversity and emerge stronger than ever.
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