Quicksand
It has been 6 years now since I ventured out on my own. In another 4 months time, it would be 7 years. Looking back, I've never expected to be where I am today. I've seen and done things I had never thought I could. I lasted so long simply because I don't know how to give up. By sheer tenacity, stupidity and perserverance, I just soldiered on. Like a wide-eyed doe staring at an incoming headlights, I don't know how many times I've been bruised and knocked down. Miraculously, everytime, I resurrected. Fatigue has finally crept in. I still get knocked down but there are times when I don't want to be resurrected anymore. I just don't want to go on. You think that after 6 years, things would have become easier. Noooooooooo.... They become harder. I don't know how much more ounce of energy I have left in me to go on; how many more bones in me that is left to be broken. Mentally and spiritually, I'm tired. I kept fantasing about days of not working. Some days, I made that fantasy a reality. I shut down. I don't work.
Some of you may think that I'm simply burnt out. I was one who never believed in the concept of burnt out. I've always thought that burnt out is an excuse not to do work. I've always thought that if you have enough will-power, you'll never be burnt out. I guess I'm now a candle flickering its dying flame in the face of a storm. I've took a break (in fact two) last year. I spent a week in Tokyo. Less than a month after I came back, I had another week of vacation in Melbourne. But I don't think I can keep running away having holidays. I need to solve the root cause of my fatigue.
The fantasy of not working is very tempting. The idea is made so much more attractive because I probably can stop working for 5 years now and survive. It is not because I've lots of savings but more because I don't need a lot to survive. I am low maintenance. So is my wife. She doesn't buy bags, shoes, fancy clothes nor jewellery.
When I started, I always thought I'll remain an OMO (one-man operation). I wasn't ambitious. I didn't want big cars nor big houses with swimming pool. I simply wanted to realise my own dream of doing my own thing. I had never planned for success (regardless how modest) beyond my wildest expectations. Success has become a runaway train that I'm losing control. At any moment, the locomotive may be derailed if I can't rein it under control soon.
The current cause of my problem: success beyond my control.
I've never planned for expansion. Maybe because I never knew how. In the beginning, I was the sales, the marketing, the accountant, the debt collector, the technical support, the R&D, the public relations, the mail staff, the receptionist and even the janitor. It was easy being all the above when you only had one customer. It was still manageable when I had 50 customers. Strains started to surface when I had 100. Finally, by clandestine intervention, a friend who was not happy in her job and because I wanted to help her and also I needed help, I convinced myself that I can afford a sales staff. Glad to be relieved of the chore of making presentations and meeting potential prospectus, I focused in catching up all the work that I had been late delayed.
I didn't expect that the client base will continue to grow. Silly me. Apparently, as more clients sign-up for our products, our reputation continued to grow and we have even more clients now. Even though I've relieved myself of all the sales meetings, now I've the added workload of all the above job responsibilities for over 200 clients! I've even added other responsibilities: being a human resource and chief. My staff will refer to me for some decisions and guidance.
Instead of being mainly the chief, being responsible for the future directions and strategies of the company, I'm now bogged down by administrative and paper work. The more I struggle to clear the increased work load, the more tired and spiritless I feel. I feel hopeless and at times, unmotivated.
I feel like I'm trapped in a quicksand, the more I struggle, the faster I sink. The more I struggle, the more I'm threatened to be suffocated. I can't move. I have to keep still. I feel so powerless. I can't get myself out of the quicksand.
The obvious solution would be for me to get more staff. It is a decision I've thought over for a long time. Each additional headcount will require about $40k in expenses. To get two more staff, I'm talking about spending $80k more. It is not a decision I can take lightly. It would have been easier if my company is making millions, but I'm not. This amount will take out a big chunk of the revenue. If I save that amount, in three years, I would have savings of a whopping $120k! With that amount, if (a very super big IF) I buy a car, I can pay cash! Maybe it would have been easier if I'm a spendthrift and don't give much thoughts to spending money, I would have employed serveral employees! Maybe, a good and smart entrepreneur needs to have both qualities of being a saver and spendthrift. I'm more of a saver and maybe that's why I endured and survived past the starting first 3 tulmultous years. However, when I need to spend for expansion, I'm not the right person.
It was a lot easier being an entrepreneur when you had nothing. When you had nothing, you had nothing to lose. Now that I've achieved success beyond my wildest dreams (albeit a very small success by all standards), I've something now and I've everything to lose. I'm afraid of being a failure. I'm scared of falling back to where I began, when I had nothing. I'm frozen on the spot. I need to find the courage to march on.
I'm stuck in a quicksand.







15 comments:
hmmmmm. Sounds like you need a helping hand. The staff cost looks staggering but I think it would be well spent to remove the load from your shoulders. This frees up the time for you to focus on the direction of the business and the product developement which I think you are more interested in and passionate about. With better strategies and products you might generate more revenue to support your adminstrative staff cost. It is also interesting that you decide to look at the total annual cost instead of the monthly cost to hire a worker. Doesn't it add the burden if you decide to look at it from that perspective. If I were you I would compare the expenses with your monthly turnover?
Well I guess talk and theory is easy but the execution is the tough part. I am bleeding red and at the same time I am also sinking under the pile of paperwork. haha. I probably don't handle that much stress compared to you but I do have a glimpse of how you feel.
Wishing you the best and whatever happens we will survive right! :)
Thanks for sharing your honest thoughts with us. Perhaps if you do hire more staff, they may bring in more revenue and this would help offset the $80K additional annual expense that you envisage? It would then be a win-win situation.
Many entrepreneurs start up with a dream, vision and bold spirit to charge forth and explore new territory. As the business grows, they need to change their roles - from pioneers and leaders to managers. I suppose it is less exciting to go into maintenance mode.
Managing people is never easy, but without them, you would have little discretionary time for the things that truly matter - your wife, family, friends, hobbies. I always say that work is the means to an end and should not be the end in itself.
Chin up bro!
1. Hire 1 more support staff to assist you in your paperwork. In order to do proper delegation, you must first be clear in what you want done and how it should be done and how much time is allocated to get it done. This is proper delegation. Afterwards, rememeber to follow-up regularly to get a progress report and to find out whether there is any problems or doubts.
2. Entrepreneurs are also humans. No one can be expected to work for so long a period at 100% capacity. That's why it is essential to get additional help when there is a need to. Hiring (and firing) is part of the job. However, killing yourself for your dreams is not. Neither is getting upset or discouraged about the situation. Do something about it.
3. Take up the advise of "cool insider" and "palmist". In addition, you should wake up and smell the coffee. No one would even start a business only to get "minimum success". Every entrepreneurs and businessese out there are out to start-up, survive for a period of time, expand their market-shares, hire more human-resources, etc etc. and to achieve financial freedom and let the business feed him and his family. It is never meant for him to feed the business or sacrifice your time with your family and friends for the business. Get your roles and facts right!!!
Please pardon my "harsh" words.
Hi Palmist,
Yes, deep down inside, I know I need help but it is hard to overcome the psychological barrier of spending the additional money. Maybe because of the barrier, I've deliberately chosen to look at the expenses in its totality instead of monthly. This clearly shows my subconscious is at work and reveal my reluctance in spending the money.
You hang in there too!
Hi Cool Insider,
Haha! That's the clincher, isn't it? What if they are not able to bring in the extra income? That is the fear that kept me in the quicksand.
Hi Nemesis Prime,
Glad to see your comment and know that you are still following my blog. Thanks, man!
I know what I should do, I really know.
I'll get there. Thanks!
What an amazingly open post. I'm working on a series that gives advice to new business start-ups in the design industry. I'm sure to point them back to you.
Cobalt. Here is what I think.
1) Paralysis and status quo are usually not as good as taking action. The fact u are swamped on non-strategic work means you need to hire.
2) Hire more and wisely. Generate more sales to cover this costs. As your business expands, your thinking and attitudes need to change accordingly. Otherwise you are stuck.
I went thru this myself over last 7 years too. Started same time as you. Grew from 2 man to 5 man to 8 man to 12 man and suddenly in 1 year, we have 25 headcount.
My role change from everythingalsodo to sales to business dev to now strategy and finance. From operations to mentor and planning.
Of course your business need to grow too. 200 clients with 2 people servicing is of course painful. But 2000 clients with 20 may not be that bad. And 20000 clients with 200 headcount will be quite smooth.
Take heart and do not sink in!
Hey man, how about going for a part time or outsource of the more routine work out?
It keeps the cost down and at the same time, someone to take off the less important stuff off you too.
Spend a little to gain a lot more.
I used to run everything on my own when BAK2u was started now that it is picking up (thank god!), I forsee more things coming my way so outsource some of the work out too.
Hi Cat,
Thanks for visiting. Let me know the address of the blog for the series when it is available. :)
Hi Anon,
Thanks for the advice. I've realised I shouldn't have allowed paralysis to creep in. I'm going to take actions.
Hope that my company will grow to a scale like yours too.
Hi Paddy,
Yeah, I'm weighing the decisions now. I may just try having part-time support for a start. :)
Hey if you need contacts, just drop me a line.
Hi Paladin,
Appreciate your heartfelt sharing. Your problems are unfortunately side-effects of 'success'. Growth is always painful. I too am facing the challenges of growth.
Unfortunately, I can only say that continued growth will only bring fresh problems. They might be different problems, but problems nonetheless. And they will seem larger and more complex than before.
Hate being this pessimistic but it only makes sense that the road of growth ahead will get harder. If it gets easier then every startup after struggling for some initial period will zoom ahead to become a large global MNC. In fact, it has to get exponentially harder to create that size-distribution that we are all so familiar with, the fat lower pyramid bottom and the narrow -thin top few percent. It is always interesting meeting non-entrepreneurs who think that since your venture is more than a few years old, you should be having it easy now and that all the problems are at the start.
Having done what you have done for 7 years tells me that you are doing what you love doing. If you could have imagined doing anything else, you would have done so long ago.
Knowing nothing about your business, I can't venture any suggestion. I can imagine though the wide set of conflicting constraints that you are trying to resolve in a way that makes sense and emboldens the heart.
I can only suggest that you bounce your ideas/situations off close entrepreneur/professional friends to help your work through your options. I myself try to do this. But it is not easy to find people you are comfortable enough to share your problems in detail and at the same time, these people must have the necessary skill-set and experience to actually provide useful feedback. I have yet to find my ideal mentor and he or she is unlikely to exist. So I depend on a network on people that can help shed some light, though their view will be just a narrow view of my business. It's like having a team on consultants but without the self-interest of getting more consulting work..ha ha.
Must end my babbling here. WOuld like to you and all the other commentators, Merry X'mas and Best Fortune for 2007.
Hi Victor,
Thanks for sharing your experiences with me too. Yes, I never realise that growth would be a problem and I've also began to realise that the future is not going to be easier but much tougher. I'm now mentally prepared for the journey ahead now. I'm not going to ignore and run away from my problems any more. I'm going to face them like I should have done so earlier.
Thank you for your comment. It was very meaningful to me.
All the best to you in 2007!
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