The doors of my startup RIA have been open for a couple of months now, and its been an emotional roller coaster. Signing a client that youve been pursuing can provide a massive high, but when things hit a dry spell or dont go your way, you can spiral into new lows.
I recently had one of those those low days -- the kind where you spend the day asking yourself: Can I really do this? Did I make a huge mistake? I started to doubt my ability to run a business, attract clients and, ultimately, provide for my family.
I knew how many hats Id need to wear to run a business. From compliance to bookkeeping to the actual planning work for clients, it can all be a bit overwhelming. Even efforts like marketing, networking and blogging, which I enjoy, all involve creative energy that doesnt come in limitless amounts.
When it comes to attracting clients, I have some strategies in place and others planned and set to happen soon -- but if they dont work as well as I hope, Im not sure what to do next. I know Im not alone in feeling these doubts, but on some days, it seems like every other advisor is succeeding and Im floundering. Are these feelings accurate? Probably not -- but thats not enough to conquer them.
How I cope with doubts is by remembering that I signed up for the journey, and I intend to pursue it fully. I know that there are many teachers who require financial guidance and education, and I hope to build a business by helping as many of them as possible. My goal is to succeed beyond my wildest dreams, but my ego is prepared for a failure. Another thing that helps: I know that whether I succeed or fail, my family will always be by my side -- and no business success or failure will affect the amount of love they have for me.