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S52 Risk: Emotions

George Morgan
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Page no: S52


Question Answer


#10 (Emotional Rollercoaster)

Develop healthy tactics to deal with the emotional rollercoaster of entrepreneurship. Being a Founder is a known profession with high stress, heavy workloads and extreme highs or lows, referred to as the emotional rollercoaster, which you may already be experiencing in the program. Write a few bullet points on any healthy tactics that you have used in the past to effectively deal with stress.

Find and interview one experienced Founder for a few Minutes, who may be a Mentor, about the emotional rollercoaster. Ask them to tell you about some of the most difficult and the best times they have faced as a Founder, how frequently things go from great to horrible, how they deal with the ups and downs and who they turn to for support.

Present to your Working Group for feedback on the most healthy Tactic that you discovered to deal with stress and the emotional rollercoaster. Write a couple of sentences on the Tactic, including a description of how you will implement this Tactic when needed. (1 Hour)

Own Tactics:
  1. Keep the main job inside a bank. If anything fails, then this keeps feeding you.
  2. Choose possibilities to reduce the work-load inside the bank, without losing the security.

    a) Time Flex Model: Special model, where can reduce down to 60%.
    b) Short-term: Takes 2 days off each week, for FI only.
    c) Take holidays
  3. Do sports regularly. Biking helps me not only to get fresh air, but also fresh thoughts.
  4. Keep family life OK: This is maybe the most difficult challenge. Having a full-time job, plus doing a business reduces the time. Aim is to have meals together and watch movies together every 2nd day.
  5. Plan your day. I am a using  calendar that blocks time for all things, in particular:
    • Time for the main job
    • Time for Founders Institute / my own business
    • Time for sports (average 1.5 hours per day).
    • Time for family
    • Time for telling my team what to do
    • Time for other things like cleanup, data backups, fixing the computer.At the same time, I also do reviews for what I really invested my time.
  6. If anything does not fit into the schedule, then skip it, ask for more time or re-plan. This might also include FI.
I had an interview with the founder of farmtasy
He similar issues as I had with integrating the main job with a second business.His advises:
  1. Find out co-founder
  2. Find a sales agent
  3. Balance your life with sports, holidays and family.
More interesting resources:
Dale Stephens (team of Peter Thiel), source

UnCollege, a startup aimed at fixing what he felt was wrong with higher education,

  • Own schedule
  • Lives in city he loves
  • Raised more than 100 million
  • Quickly obtained access to investors
  • herculean energy to start a company
  • Failure to reach the goals –> belief that you are unworthy
  • morphed quickly into crippling anxiety that left him unable to leave his home
  • 2015, Ran out of cash, had to fire two employees
  • Obtained burnout
  • He was replaced by new CEO in December 2015, in his own company!
  • In may 2016, he did not manage to get out of bed any more
  • I felt shame that I wasn’t “successful.” which morved into a “trauma”.
  • “UnCollege was a failure I could be proud of, not to mention a learning experience I could bring to my next project:
  • Helping others learn to love themselves, and as a result, build wildly successful companies.”


#9 (Limiting Beliefs)

(mentor idea review) FI

Founders often fail to grow their business because of Limiting Beliefs.

These are unsubstantiated perceptions of what you can and can not accomplish, often based on irrational fears. Classic Limiting Beliefs include statements like ‘I can’t quit my job because…,’ ‘I can’t get paying customers because…’ or ‘I can’t incorporate my business because …’

Describe in a couple of sentences one Stretch Goal for your business that you have considered previously and that you think is unrealistic to achieve.

Next, write a couple of bullet points on your perception of why this goal is unrealistic.

Third, for each bullet point, write another couple of sentences that describes a belief that you have that influences your thinking to cause you to believe that this goal is unrealistic. Present the thinking to your Working Group, and ask them for feedback, as well as ideas on any Limiting Beliefs that you may have missed. Lastly, write a few sentences about how you will overcome your Limiting Beliefs to achieve this Stretch Goal, and write one action that you will take this week to accomplish the Stretch Goal. Set up a reminder in your Business Calendar to repeat this exercise on a monthly basis. (1 Hour)

Stretch Goal: One Million in Sales in 18 months
  1. The result of the SEO Improvements are only visible after months. Therefore we risk a higher churn rate.
  2. I will probably have to work on the company, what I am not ready to do yet.
  3. I am still missing the required sales agents and sales employees.
Overcome them:
  1. Get quick success with some customers.
  2. Get regular sales that is able to replace my day job.
  3. Having found the right sales team.





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