Riding the roller coaster: Motivation for Startup Founders

Let’s face it, running a start-up (or any small business) is a roller-coaster. There are plenty of ups and downs, highs and lows. Maintaining motivation as a startup founder is challenging. You need resilience and persistence to cope when things aren’t going to plan – but also the ability to recognise and celebrate successes when they occur.

pedro velasco roller coaster unsplash
Photo by Pedro Velasco on Unsplash

Managing your motivation as a startup founder isn’t easy. Running my start-up, I can vividly recall days when I was as high as a kite with a product breakthrough, a partnership secured or a revenue target smashed. But there were also dark, despondent days when it was all I could do to stop myself giving up and throwing in the proverbial towel. I ranted about how impossibly hard it was, I certainly cried tears of frustration and sometimes just sat, staring into space unable to even summon up the energy for emotion. Perhaps you recognise this?

Many of the startup founders I speak to recognise that maintaining motivation is part of the startup journey – and that you have to dig deep, and look in unexpected places for that motivation.

Founder and MD of Small Pharma, Peter Rands reflected

“At my lowest points the thing I got most pleasure from was reading stories to my daughters before bed, so getting back in time for bedtime became my north star. “

Alessandro Santo, Founder at Last Mile Ventures recognised the frustration of hours of hard work seemingly getting you nowhere but he pushed himself forward by 

“being stubbornly optimistic and willing to show the world that sooner or later I will be right.”

Tom Rogers, Founder at MusicGurus recalled his lowest point was when his co-founder left the business but he kept himself motivated by 

“focusing on short-term, achievable goals such as finishing a product. I also thought about the thousands of customers around the world that love MusicGurus and share our passion for learning music.”

Another founder, who wished to remain anonymous, was clear about his lowest point – but also about the surprising benefit that came from that

“Early on in our development, we had a conversation with someone who had decades of experience in our particular sector. He challenged us on every single point of our proposition, expressing a serious amount of doubt on our ability to pull it off. We left the meeting shattered, but then we took a lot of the feedback on board and pivoted to a much easier product to launch. It ended up being valuable feedback, despite the pain.

Having a true sense of our purpose has been our North Star. Committing ourselves to this goal (rather than a particular solution) has allowed us to adapt and pivot when it was required.”

Six things you can do today to keep motivated

  1. Focus on one or two things that you can do, influence or change – and then do them! Being in action, focused on something you can do, distracts you from festering and worrying about the things you can’t influence.
  2. Search out at least one thing (there may be more when you start looking) every day that you can feel positive about. Acknowledge and celebrate that.
  3. Talk to someone you trust about what you are going through. Whether its a founder of another business, a spouse or partner or a trusted friend, share what you are going through. Chances are that they can empathise with the situation, offer a suggestion or put, a more positive spin on the situation than you yourself can see. After all, a problem shared is a problem halved. 
  4. Look at the bigger picture. What is important to you in life – not just in your business. Commit to doing one thing a day/week/month that reminds you that your business isn’t everything.
  5. Remind yourself why you set-up your startup. Get back in touch with the passion and vision that had you start this journey.
  6. Visualise how you will feel when your start-up turns the corner and things are going well. Imagine the feelings of achievement, excitement and – perhaps – pride you will have. All the pain and frustration you feel now is just the aperitif to that main course.

For every “low” there will be “high” coming

Remember, your startup journey is a roller coaster so for every “low” there will be a “high” just around the corner.

Tom Rogers commented on how these “highs” can come from unexpected places

“A most unexpected high came from doing a boot camp in the rain and the mud with our partners from Rockschool (and aching like hell the next day!)”

Of course, you never know when the “highs” are coming – but you have to keep the faith that they will. In the last month I have had two conversations with one startup founder. During the first conversation the founder was close to giving it all up – cash flow was tight, everything was taking at least twice as long as planned and potential investors were sitting on the fence, seemingly unable to make a decision about investment. It was all a waste of time – or so the founder was beginning to think.

Just two weeks later that same founder rang me and was ecstatic, brimming with excitement and enthusiasm again. They had made a product breakthrough, signed a contract with their perfect partner for a trial and the investors had come off the fence and backed them. Like buses, the “highs” had come three in a row!

Next time you are experiencing one of the inevitable lows of your startup journey, remember it can all change in the twinkling of an eye.

************************

Is your Startup ready for investment?

Take the Startup Investment Scorecard to discover if your Startup is ready for investment. Start here

Further reading

What is the best way to fund your my business?

When is the right time to raise investment for your startup?

Latest Blog & News

problem and solution slide banner.

How to show the problem and solution slides in your pitch deck with a customer journey

Framing the issue – or societal/customer problem – that your startup is tackling, and how it solves that issue, acts as a hook to
Funding for startups: How to raise bridge funding.

Funding for startups: A guide to bridge funding

Pre-Seed, Seed, and Series A are all terms that are probably familiar to you if you have, or are looking to, raise funding for
Redefining angel investment for female founders

Female Founders: Redefining angel investment to inspire inclusion

Friday (8th March) marks International Women’s Day (IWD) with this year’s campaign theme being ‘InspireInclusion’. I can’t help but feel despondent though, last year
What angel investors look for in startups.

What angel investors look for in start-ups

Angel investors play an important role in the growth and expansion of startups. According to the 2021 Scale-Up Institute Annual Review on the State
Pitch deck: Go to market slides banner.

Pitch deck: How to include your go-to-market strategy

A ‘Go-to-market’ (GTM) strategy is a must-have in any pitch deck. It’s where founders showcase their approach for entering their market successfully, and the
Startups Magazine article: How to build confidence before pitching for investment.

How to build confidence before pitching for investment

Presenting is often cited as most peoples’ “greatest fear”. It’s unsurprising then that founders often lack confidence when pitching, especially if pitching is new
Future-proof your startup with engagement marketing.

Master engagement marketing: and you’ll future-proof your startup

Investors expect a clear, well-targeted startup marketing strategy if you are going to attract their investment. But, pre-funding when you are still in “hustle
Startups Magazine: Networking with startup investors banner.

Networking with startup investors: 5 tips to network successfully

Raising equity investment becomes easier when you pitch to startup investors you have previously engaged with or spoken to, or have been introduced to.
Looking for startup investors? Our guide will help

Looking for funding? Here’s your step-by-step guide to finding startup investors

Starting a business is exhilarating, but finding the startup funding to fuel your dreams can be a daunting task. Not only will you have
Startup Funding: A guide to navigating the funding journey

Startup funding: A guide to navigating the funding journey

One of the most frequent questions we are asked is “What’s the best way to fund my startup?” Startup funding doesn’t have to mean
Hatty Fawcett, Finalist in the Great British Entrepreneur Awards 2023

What being a finalist in the Great British Entrepreneur Awards has taught me

My weak spot is I don’t like talking about my achievements. I think it dates back to my childhood when I was told not
How to choose your cofounder

Choose your startup co-founder wisely

So you’ve had a light-bulb moment, a world-changing idea – you’re excited and want to share it with the world. But where do you
Whats the best way to fund my business

“What’s the best way to fund my business?”: Ten founders give the lowdown on the best way to fund your business

One of the fundamental questions, and perhaps the most frequently asked when it comes to business growth, is “What’s the best way to fund
Funding Accelerator Mentor Elliott Gaspar explains what investors look for in a financial forecast for investors

3 Things Investors Look for in a Financial Forecast: The Perfect Blend

Much like brewing a delicious cup of coffee, a compelling financial forecast for investors requires a complex blend of data, strategy, and storytelling. It’s
How equity investors can better support underrepresented founders

How equity investors can better support underrepresented founders

Raising equity investment is a challenge for any startup, but especially for underrepresented founders. They don’t just face “the usual” questions about their business,
Raising investment in difficult economic times

Raising investment in difficult economic times

It’s tough raising investment right now. There are fewer investors and the amounts being invested are smaller. How should startups respond if they still
Jennifer Anderson explains how to weave storytelling into your pitch deck to keep investors' attention

How to weave storytelling into your pitch deck to keep investors’ attention

As founders we’re told to weave storytelling into our pitch deck, but we are not always told why. Luckily Pitch Coach and Funding Accelerator
Is equity funding the best option for your startup

Is equity funding the best option for your startup?

Equity funding isn’t for everyone. When you sell shares in your business you are, effectively, entering into a long-term relationship with your investors. Investors
Funding Accelerator mentor Tracey Rob Perera shares 3 things angel investors look for in your startup valuation

3 things angel investors look for in your startup valuation

Funding Accelerator mentor, Tracey Rob Perera, shares 3 things angel investors look for in your startup valuation. Tracey Rob Perera is not only a
Hatty Fawcett talks to Finance Digest about how - and why - to build productive relationships with your investors

How to build productive relationships with investors

You might think closing a funding round is the end of a journey. In fact, its just the start! Now comes the hard work
Funding Accelerator Mentor Chris Booth shares how to expand your team without it costing more

How to expand your startup team without it costing more

Funding Accelerator expert mentor Chris Booth of Findrs explains how to expand your startup team (and extend your headcount budget) by using AI. When
Hatty Fawcett Adviser of the Year 2022

Start-up funding adviser, Hatty Fawcett, wins Enterprise Nation Adviser of the Year 2022/23

Over the last few months, start-up founders and small business owners across the UK have been voting for the best and brightest business advisers.
How startup accelerators increase your chances of funding

How startup accelerators increase your chance of funding

While I’ve written before about the benefits of joining startup Accelerators (find out more here), now seems like the perfect time to revisit the
unit metrics that attract startup investors

3 unit metrics that attract startup investors and build a compelling story of growth

Did the conversation with potential investors fizzle out at the financial stage? It’s not just the vision, but the focus on detail that secures
Panel members at How to find and impress investors June 2022

How to find investors, and impress them

Have you ever wondered what it takes to find and impress investors? Well, who better to ask than leading VCs and angels themselves! Earlier
financial-forecast-charting-growth-1200-1

Investing your time where it counts – the numbers

How the right financial forecast is crucial to unlocking startup investment If you’re looking to secure startup investment, it’s inevitable that at some point
Find-investors-by-Herbi-B-from-pixabay

How to find investors for a startup…quickly!

A recent report from Beauhurst and SFC Capital* reveals that it takes, on average, 15 months to find investors for a startup and close
Should you raise startup funding from family and friends no words

Should you raise startup funding from friends and family?

So you think you need to raise funding for your startup? You may be right, but before you begin to raise startup funding from
7-Essentials-that-unlock-startup-equity-investment-600

7 Essentials that unlock Start-up equity investment

Start-up equity investment: Investors look for 7 Essential ingrediants when deciding whether to back a start-up – or not! Be succinct to get attention
Financial savings mechanism. Piggy bank formed by gears and cogs

Traction makes it quicker to raise funding for a startup

So you want to raise funding for a startup? To succeed, you’ll need to speak the language of investors. Investors will ask “how much
7 mistakes that stop you raising investment for your startup no words

7 Mistakes that stop you raising investment for your startup

Startup founders are resourceful and move quickly but sometimes that haste can work against them. They make mistakes. When it comes to raising investment
Doors within doors kilarov-zaneit-KjqNGd0sCTQ-unsplash

Why your executive summary is your most important investment document

When seeking investment for your business it pays to think like an investor, giving an investor the information they want rather than telling them