Launching a New Business Requires Tough Decisions per Jake Swaney

420

In a time when the world economy is struggling, it’s nearly impossible for anyone to make any decisions about their future. Still, even though uncertainty tempts people to choose not to take opportunities that may be too difficult or expensive, a new trend called the Great Resignation emerged in the US labor market throughout 2021. According to the JOLTS (Job Openings and Labor Turnover Survey) report from December 2021, a record number of 4.53 million Americans quit their jobs in November.

Jake Swaney, co-founder of DH Capital, says that this trend proved once again that American people are always ready to take fate into their own hands in spite of the hardships that are in front of them. Swaney himself chose to pursue the entrepreneurial path after quitting his first and only corporate job in 2019 to found his own oil and gas acquisition company. Nearly fifteen months after successfully building a company from the ground up and establishing its name and presence in the energy space, Swaney sold the company’s assets to a private-backed equity company. He was ready to move to the next entrepreneurial venture, this time in the real estate industry.

As Swaney points out, he knows that nothing lasts forever, and that entrepreneurs who want to continue to succeed for a long time must be able to recognize the right opportunities and the right time to act on them. Still, he explains that launching a new business can be extremely difficult and that those who want to tread that path need to be prepared to make some tough decisions along the way.

“There are inevitably going to be things that go wrong, take longer to finish, and don’t turn out as expected,” Jake Swaney says. “Nevertheless, instead of being discouraged or defeated, it’s important to take the time to learn from trial and error. It’s crucial to embrace the good and bad times because they are all meaningful learning experiences.”

Swaney also believes that one of the more important factors is to stay calm while long-term leads develop, but he also points out that this is the most difficult part of the decision-making process. “True leaders know how to stay calm while long-term leads develop,” he says. “This can be difficult when deals do not seem to materialize, and the anxiety creeps in. You need to be patient and measure early development on goals and tasks completed, not deals closed.”

On top of that, he explains that new entrepreneurs need to take time for careful consideration when they are presented with multiple options at the same time as putting too much on their plate can spread their resources thin. “I would consider not investing in too many opportunities at once. This can be difficult when presented with multiple deals that all seem enticing. Being in a position short on cash, while these investments develop, can be a nightmare,” Jake Swaney explains. “Be aware, some investments take time to develop and sometimes payout comes later than expected. That’s why you need to be more selective in the available opportunities but, in the end, they will surely pay back.”

Previous articleWhy do we Hate Pests so Much?
Next articleHemlo Explorers Announces Binding Term Sheet for an Earn-In Agreement with Barrick Gold on the Pic Project