Biggest Challenges Faced By A Founder At Coach Lauren Wong
The biggest challenge in Lauren's role as Founder at Coach Lauren Wong is the lack of stability, since "there's like no guarantee" of a consistent paycheck or client acquisition, which can be "tiring and even a little bit discouraging" when marketing efforts and new ideas don't pan out as hoped. Therefore, resilience is really important in this role.
Resilience, Uncertainty, Entrepreneurship, Marketing, Client Acquisition
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Lauren Wong
Founder
Coach Lauren Wong
UC Berkeley
UCLA Anderson
Communications, Economics, Political Science, American Studies
Coaching, Speaking & Writing, Education
Education
Scholarship Recipient, Pell Grant Recipient, Took Out Loans, Greek Life Member, LGBTQ
Video Highlights
1. Lack of Stability: The role of a founder lacks a sense of stability due to the uncertainty of securing clients and consistent paychecks.
2. Experimentation and Failure: A significant challenge involves trying new marketing and event ideas, some of which may not succeed, leading to disappointment.
3. Resilience is Key: The inconsistency and potential for discouragement in the role highlight the importance of resilience for success.
Transcript
What is your biggest challenge in your role?
This role is very fluid. You don't know where your next paycheck is coming from or where you'll get your clients. I think that's the biggest challenge: there's no guarantee and no sense of stability when you're self-employed.
I'm actually in that situation right now, it's time for recruiting. Will I get the same number of clients? Will I get more? All these efforts I mentioned, like trying new ideas, some of them work and that's amazing, and some of them just don't work. That can be really disappointing.
I try so many marketing ideas, so many different events, and sometimes people just don't show up. So, I think the hardest thing is that there's not a guarantee in the input you put in. I like to think that it is, you still need to work hard, but at the same time, sometimes it falls flat.
The fact that you don't know when your next paycheck is coming, it's not like a guarantee every two weeks, involves a lot of hustling. I think this can be tiring and even a little bit discouraging at times. So, resilience is really important in this role.
Advizer Personal Links
https://linkedin.com/in/lwong89, coachlaurenwong@gmail.com, instagram.com/coachlaurenwong, facebook.com/coachlaurenwong