I’ve been keeping a journal since I was 15 years old. I read the journals every now and then and they’re funny.
It’s like, “Oh my god, we signed a customer, we’re going to stay alive!”
A week later, “oh my god, we’re going out of business. I don’t think I can make payroll.”
A week later, “oh my god, I can’t believe it, we signed another customer!”
A week later, “I got to eat a good meal because we signed a customer.”
Next week, “I don’t think we’re going to make it.”
The normal thing [in business is to have these] the up[s] and down[s]. What I think the journey of the entrepreneur is a very specific journey…. It’s not designed for everyone, and it’s got a lot of walls….
The walls are designed so not everyone can make it, and that’s the way it is….
So, only 1% of people who start out in their businesses [make it]. I think they said about 90% go out the first year. They fail.
It’s because when people hit the first wall, [they say,] “Forget this. This is too tough.”
Read the full interview here.