Cameron HeroldFounder of the COO Alliance & Invest In Your Leaders Training

Mastering the Psychology of Entrepreneurship

13 Jun 2023 · 0 min

Watch on YouTube

0:19

A short conversation from a Cameron Herold YouTube video about the emotional "transition curve" of entrepreneurship. The speakers introduce Phase 1—"uninformed optimism"—likening it to the crest of a roller coaster, noting it can last from a week to a year. They advise delaying major purchasing or hiring decisions until after initial exuberance subsides and you become more cautious.

Yeah. This is key because the transition curve, or the emotional rollercoaster of entrepreneurship or business, you start off up, and then you sort of crest come down and then back up, or you crash and burn. And I think what's key is knowing what to do at each phase of that curve. Age one, though, uninformed optimism. That's kind of the mania you're talking about right now.
Yeah, that's like if you're going up a physical roller coaster, it's almost when you get to the top, right. When you just are almost at the very top, you're excited, you're enthusiastic, you're not even really sure what's coming yet, but you're just full of that pith and vinegar. In the entrepreneurial world, this could be like a long term of a year, or it could be just in the course of a week. You should wait until you're a little more pessimistic to make purchasing decisions or to make hiring decisions. You were so irrationally exuberant. Right. Or I was, like, so into it, I didn't even see it. Well, yeah, because you were running 100 miles an hour.
And I think in a way, at the time, you recognize that. Right. But you have to internalize it.