The document discusses various challenges faced by entrepreneurs including depression, separating personal and business identity, managing cashflow, clients, employees, and more. It provides tips for staying motivated through ups and downs such as focusing on long-term goals, remembering why the business started, and relying on a strong team. When business is up, entrepreneurs are advised to network, develop new revenue streams, and continue marketing and business development. When business is down, entrepreneurs should check in with clients, partner with others, develop systems, polish marketing materials, learn new skills, and network.

6. Anxiety and depression
7% of the general population report suffering from depression, but 30% of entrepreneurs report dealing with
its effects.
Entrepreneurship is a deeply personal journey, and it's incredibly difficult to separate your identity from
the business that you're trying to create. Soon, business setbacks (of which there are many) seem like
personal setbacks, and depression can quickly take root.
Keep things in perspective -Think back to your high school days -This too shall pass.
Take along term view - there are second (and third and fourth) acts in life, and it's important to take a long-
term view of things, even when it feels like your world is ending.
Ask for help – Asking for help is not a sign of weakness – Friends ad Family, other entrepreneurs, professional
coach

7. Managing cashflow
Managing costs
Managing Employees, solving human resources problems
Not having enough clients
Having too many clients - delivering on promises
Deadlines - project and operations management
Quality Assurance
Customer service
Brand reputation
Business or strategic partner issues
Purchasing – supply chain
Sales
Marketing
External regulations and people
Sources of ups and downs

8. 38, 38%
19, 19%
5, 5%
10, 10%
3, 3%
6, 6%
3, 3%
10, 10%
4, 4%2, 2%
Hardest Part of growing a business
Financial strain
Added workload
pressure of change
work life harmony
Lack of knowledge
Legal stuff
staffing
Marketing
Other
None

9. Why are you in business ?
Entrepreneurs can work for themselves. In a worldwide survey,
it was discovered that the biggest motivator to become
entrepreneurs is the fact that they can be their own boss.
People would rather be independent workers, looking after
themselves, instead of being observed by higher-ups.

10. Why are you in business ?
Entrepreneurs want to be more hands on. A reason why
employees decide that starting a small business is right for them
is the fact that they can build something from scratch. When
you’re on your own, you feel a sense of satisfaction when you
accomplish something. If you don’t meet your quarterly earnings
goal at your small business, it falls on you. However, if you figure
out how you can save money every month on your important
expenses, you’ll feel like a million dollars. Working at a company,
on the other hand, is a group effort, and you may feel like just
another cog in the machine.

11. Why are you in business ?
Entrepreneurs want more money. Money is another factor in
employees’ decisions to take on a new career as an entrepreneur.
Perhaps a person’s current job doesn’t pay enough, or he or
she started a side business that suddenly became lucrative and
required more time than he or she thought it would.The job that
seems like it will pay a better salary almost always wins out over
the lower-paying one.

12. Why are you in business ?
Entrepreneurs want to take on additional roles. Small business
owners don’t fit into one job description.They are multi-talented
and don’t want to be pigeon-holed as an accountant, data entry
clerk, or human resources manager. According to Chron.com and
More Business, an entrepreneur believes he or she knows how a
business should be run, and “this motivates the entrepreneur to
start his own business and get directly involved.” Instead of
hitting their head against the wall when their boss makes a
mistake, they can take charge and do it their own way.

13. Define your goals?
• Precise : Your goals must be well defined.
• Time bound: You must have a clear timeframe for the achievement of each of your goals.
• Measurable : Quantifiable so you can measure your progress
• Stimulating : Must present challenges for you and others involved in the process.
• Achievable : Must be ambitious but realistic otherwise you will be demotivated
• Appropriate: Must not contradict your own and society’s value system.

15. YOUWILL FAIL!

16. YOUWILL FAIL! NowWhat?
1 - Find out why you failed in the first place
This is no time to point fingers at others.The only thing that matters is to figure out what went wrong.
2 – Realize you are not so bad or as good as you think you are
Don’t let yourself, or other people, make you think you’re incredible OR horrible.
3 – Be prepared for more failures
It’ OK to have a bit of paranoia because crap is going to hit the fan again. But the next time you will be better
prepared.

17. YOUWILL FAIL! NowWhat?
4 – Don’t back off too much
Don’t get discouraged. Get back at it right away.
5 – Get back to it but don’t rush
When you start again after a failure or setback, take it slow.
Do more research and do your due diligence before you commit.
6 - Don’t let failure define you
It’s more about how you react to the failure than the failure itself
Seek counsel from someone who has been there.

18. I feel I'm always on the cusp of something
big. Beyond that intrinsic motivation, in a
down period, I anchor myself to routine and
family.
What keeps you motivated through the ups and downs of running a business?

19. Taking our lumps as we grow is how we
learn. So long as we use those experiences
to get better, then it smooths the ups and
downs that every business goes through.
What keeps you motivated through the ups and downs of running a business?

20. I see running as business as running a marathon.
There are going to be ups and downs, but to stay
energized throughout you have to mitigate both.
When you're in an upswing, keep your energy
focused on moving ahead and always improving,
and on a downswing keep your energy focused in
the exact same place. If you let yourself get
caught up in your own hype, you'll exhaust
yourself with all of the ups and downs.
What keeps you motivated through the ups and downs of running a business?

21. Having a long-term mission that matters --
in our case it’s reducing crime in
communities.This helps keep myself and
the team centered.We are not building a
business for today; instead, we're working
step-by-step toward a 10-year goal that we
believe will make a real difference in the
world.
What keeps you motivated through the ups and downs of running a business?

22. Remembering how BucketFeet started, how far
we’ve come and what our goals are now. It is
easy to get frustrated and overwhelmed when
trying to grow a company from that first vision to
a major brand.We started BucketFeet with the
idea that art should be for everyone, and it is so
helpful to go back to that mission in the tough
times -- keeping alive that same excitement and
passion as when we were just beginning is key.
What keeps you motivated through the ups and downs of running a business?

23. That's easy: it's my team. I feel lucky to be
surrounded by passionate, smart, humble,
and driven individuals. Everyday I am
impressed by their commitment and work
ethic.
What keeps you motivated through the ups and downs of running a business?

24. Seeing the teams I’ve built solve problems
and be successful.This along with keeping a
relentless focus on our company’s purpose
and goals has been critical to helping me
navigate the highs and lows of being at the
helm of one of the fastest-growing food
companies in the country.
What keeps you motivated through the ups and downs of running a business?

26. When business is up.
• Pitch in but don’t forget to work ON the business
• Think of other revenue streams for when business is down
• Network
• Do not ignore your business development activities
• Do not ignore your Marketing

27. When business is down.
• Check in with past clients
• Partner with another business
• Develop and implement systems for when you are busy
• Polish your marketing material. (Web site, brochures, social media)
• Learn something new
• Network

28. Bernard Charlebois, BoumStrategies
613 720-0248
Text “emotions” to 613 900-2070 for a link to the presentation