Risk & Resilience Shared Playbook

Overcoming That First Dip

Andrew Chau

04.14.22

When starting a new business venture, entrepreneurs can expect to experience a dip – whether it’s financial loss, fatigue, or feelings of failure. But Boba Guys CEO, Andrew Chau, believes it’s how you respond to that first dip that will determine whether you are a successful entrepreneur or not.

Summary:

When starting a new business venture, entrepreneurs can expect to experience a dip – whether it’s financial loss, fatigue, or feelings of failure. But Boba Guys CEO, Andrew Chau, believes it’s how you respond to that first dip that will determine whether you are a successful entrepreneur or not.

Andrew Chau

Just a mindset. So, if you build that mindset one-on-one with yourself, and then you have the people around you that can fan your flame, that kind of creates this kind of engine, that will give you more and more confidence. So, you’ll always have that fuel from them. So, I think that’s enough to get you through the hard times. I will say, a lot of people think entrepreneurship, the hardest part is starting something, that’s actually not true. Anybody can start up something.

I can start a pop-up shop tomorrow, because it’s very low risk really, financially it’s not that much, you just find a good friend who can let you pop up in them. The hard part is when you lose money, when you have a bad day, when you get really tired, that’s when your social risk really happens, because that’s when your strangers will say, it’s not worth it, or you’re failing, why are you still doing this?

So, you need that kind of confidence with yourself and your community to keep on pushing you through those hard times. So, I think that’s actually technically the hardest time. I call it ‘The First Dip.” So, after your first dip, that’s really when you’ll know you’re going to be a successful entrepreneur or not.