We tend to think of business in pretty clinical terms – it is a world of profit margins, share prices and returns on investment. But for those who have come up with the idea for a new business or brand, given birth to it and shaped its early life, the experience is often far more emotional. Culturally, we expect entrepreneurs and creative leaders to give their all to their projects – it is virtually part of the job description – yet we rarely acknowledge the emotional fallout when things don’t go to plan.
And of course this is most of the time. The stats are staggering: according to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months, and 80% will close in less than two years. With those failures, which are usually delivered to the press in purely financial terms, will come the private stories of heartbreak, loss of mental health and relationships.
Someone who knows all about this is Nick Hussey, who is coming out the other side of being forced to sell off his business Vulpine two years ago and suffering a nervous breakdown as a result. His story is one of high highs and low lows, and he is now keen for others to learn from it, as well as using the insights he learnt along the way himself, in his new jacket business Frahm.