I would be scared shitless daily, but would translate this into being action-oriented around things in our control #ifiwereafounder
— Chip Hazard (@chazard) March 30, 2014
Of all my #ifiwereafounder tweets, this comment resonated with the most people. Profanity aside, as that always sells, this is because I acknowledged what every founder feels and almost never publicly admits: the day to day building of a company from scratch is scary. These fears range from those that are inwardly focused (I am doing things every day I have no experience doing), team focused (how on earth did I become responsible for the livelihood and development of all these people), customer focused (we are at risk of screwing up our largest account), market based (will enough people buy what we are selling or if there are, will our large competitor react quickly enough to crush us ) to financial concerns (we run out of money in 8 weeks and I have no idea where the next slug of cash is coming from).
The path through these fears is the second part of the tweet: be action-oriented around things you can control. Don't fret about things outside of your control. For example from the list above, what you do today has very little to do with whether your large competitor decides to try to crush you. Every cycle you spend on things you can not impact distracts and bogs you down. Instead, focus relentlessly on what you can do to keep pushing forward every day. Break down big scary tasks down into manageable and achievable chunks. Celebrate small successes and develop a culture of getting shit done. Figure out quick data driven approaches to research your concerns and react accordingly. Recognize you don't and can't know everything and reach out for input on your path forward from your team or advisors when you are outside of your comfort zone. If you are confronted with a WFIO moment, read Scott Weiss's excellent post on leading from the front, getting the best brains around the table and realizing it is never as bad as it seems. Speed, desire and unique insights are why start-ups win.
In a subsequent tweet I said "I would have one person to share my deepest fears and worries with" and this too is critical. Generally I am a fan of leaders that are more open with their team than not, but I also recognize you can not share everything broadly. But internalizing all these fears is also counter-productive and will lead to even more sleepless nights, and there are enough as it is. So have someone you can be completely honest with as talking through your concerns, issues and worries makes them easier to address and overcome. Ideally this person is your co-founder, but could also be a key mentor, other CEOs in a group you regularly meet with, your significant other or, heaven forbid, an investor you trust. If you can find that unique combination of 100% supportive married with honest objectivity you will have found the right mix.
Finally, if the reactions I had to the tweet are any indication, recognize you are not alone. This in and of itself is helpful.