STRATEGY – FOUNDATIONS
Here’s One Phrase Every Aspiring Entrepreneur Should Know
BY SARAH PRATT
UPDATED MAR 2, 2023
Image credit: The Ramen Phase
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Image credit: The Ramen Phase
We earn commissions on some links. Read more >
Now I don’t yet know you, but I suspect that you have a vision, a dream, a purpose. Maybe you haven’t identified it yet, but you feel it. You feel that there is something in this lifetime that you are here to do.
I want to help you get there.
For those of us who feel a true calling to make an impact in the world and put our potential into practice, we often find ourselves starting up our own ventures. Yes, like a business. Entrepreneurship.
Unfortunately for any of us choosing this path, 8 out of 10 new entrepreneurs fail within the first 18 months [Bloomberg]. That means that only 20% make it past the first year and a half. I don’t tell you this to scare you, but rather to convey a major part of our mission here at The Ramen Phase: let’s change that!
Let’s beat those statistics and create a whole new wave of entrepreneurs who feel truly empowered to turn their dreams into reality. Welcome to your ramen phase.
So, what exactly is a ‘ramen phase’ anyway? This term has been used to describe the early stages of the entrepreneurial journey, when you’re devoting so much of your time, energy, and money to your new project that all you can afford to survive off of is the humble instant noodle. The term evokes a sense of commitment, or almost obsession to the path ahead, including all of the sacrifices that you may need to make along the way. It is a reminder that although we may have this grand vision in our minds, we’re not there yet, and we’ll never get there if we don’t focus on building the foundation in this crucial early phase.
That foundation is our mission here.
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You see, whenever a business doesn’t make it, the same few things seem to always be cited as the culprits – not enough money, unfavorable markets, lack of hired talent, you’ve heard it. In reality, plenty of businesses survive through those same difficulties or even thrive despite the odds. How are they different?
We need to focus on more than just profit margins here. There is a lot that goes into being successful in any area of our lives, and in general, much of it is not taught to us through traditional education.
With business especially, some of these topics, unfortunately, end up being taboo. It may be seen as a weakness or liability to admit that you’re feeling a certain way or having difficulties. I want to change that.
So what are these topics exactly? There are numerous challenges that an entrepreneur faces and that may not be quite so obvious from an outside perspective. Some examples include things like loneliness, self-doubt, social anxiety, imposter syndrome, not knowing how to manage or cope with risk, strained relationships, neglecting your physical health, or just constantly worrying about money. These are all especially prevalent in this beginning stage when we have not yet seen the fruits of our labor and are doubting if it will ever work out.
Here, we recognize that talking about such things in the business world is generally avoided. That’s why we do it. It’s not a weakness to create dialog around your struggles and build a community of people going through similar difficulties who can support each other. Vulnerability. By opening up about these challenges we can learn to confront them, find ways to manage them, or meet others who are supportive and encouraging through this trying time. Only by acknowledging our difficulties can we then begin to seek ways to move through them and grow as individuals, professionals, and as a community.
This is what we’re all about. The Ramen Phase is here to empower new, current, and aspiring impact-focused entrepreneurs through this crucial portion of the startup journey. We’re setting out to build a community that encourages open and healthy conversation around all of the facets of entrepreneurial life.
Keep in mind that while we are here to help you grow and survive your ramen phase, we are in one of our own as well! We are structuring our content to provide as much value as possible to anyone seeking this sort of information and community, so let us know if there is anything you would like to hear more about as we continue to develop this resource.
I would like to take this opportunity to extend an invitation to you to come along with us and carve out a little bit of time to focus on your own personal and professional growth while you embark on your path ahead. Consider joining our MISO Facebook group for weekday mentorship, inspirational discussions, and a supportive community of fellow ramentrepreneurs.
I look forward to seeing you in MISO!
Until then, stay hungry out there!
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