If an entrepreneur doesn't find themselves in over their head at least 20 percent of the time, they are probably not pushing the limits, not taking enough risk, and probably not working on an idea that's worth doing. The challenge in to know when and how to ask for help, and not let bravado and ego mask anxieties. The best people know when they don't know, and know how to find the right help.
Unfortunately, too many entrepreneurs I know are terrible at finding and accepting help. Perhaps it's because they jumped into this lifestyle because they are passionate and stubborn about following their own vision, and they enjoy being their own boss. Too often they are also hesitant, inexperienced, and fearful of hiring people or a mentor to be the partner they need.
In the spirit of mentoring and helping entrepreneurs recognize their own weaknesses, here are ten key indications from my experience that you as an entrepreneur may be in over your head, and it's time to look for some help:
As a serious entrepreneur, you need to differentiate these symptoms from the plateaus we all feel from time to time as we jump from one learning curve to the next. In most cases, if you focus for a couple of months, you will find yourself happily afloat at the new level. That is just getting in over your head in a healthy way, rather than an unhealthy one.
According to Whitney Johnson in a recent Harvard Business Review article on this subject, the smart recovery is to send out an SOS (stop, organize, secure) before you drown, when you find yourself really in over your head. As an entrepreneur, you are expected to swim in unexplored waters, so there is no shame in accepting life preservers, as long as you learn from the waves.
So remember, none of us is perfect, and almost no entrepreneur gets it right the first time. If you never make mistakes, you are not taking enough risk to win in today's market. But always be self-aware, and not be afraid to take a hard look in the mirror. Do you like what you see, and are you willing to change it?