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Life for a business owner is exhilarating and dynamic, especially in the beginning, as the plan is set in motion and a product or service begins its path to market. The unpredictability of this journey is part of the reason it’s so stimulating to start and build a business, but maintaining that level of excitement and drive can be challenging when the business’s evolution doesn’t unfold according to plan.
When initial funding from family or an investor runs out before benchmarks are met, a startup owner can worry about her ability to repay investors and stay on track. Even businesses that reach the second stage of maturity can stumble — say, when a large account goes to a competitor, or a product doesn’t find traction.
No matter where the business is in its life cycle, the owner has a lot at stake, as do his investors and employees. To keep his head clear, the business owner has to be motivated by something other than fear of failure.
A business owner who loses her passion for what she does will have trouble putting in the time and energy to start or sustain a company — especially when it’s just getting off the ground and 16-hour days are typical.
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