To Become a Fearless Entrepreneur Learn These 6 Truths Fear of failure is a much taller barrier to success than actually failing.
By Timothy Sykes Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
Becoming an entrepreneur became more common than ever after the financial crash of 2008. Yet most of those entrepreneurs are no longer in business. I've seen so many ventures fail to get off the ground. It can make you think twice about whether giving up on the 9-5 lifestyle is for you.
I think it is, but you need to prepare for becoming a successful entrepreneur. Here are the lessons I've learned.
Related: The 7 Business Lessons You Should Learn by 30
1. The journey is the best part.
It's easy to look at that mountain and shy away from the hard work. I know it intimidated me when I started. But now when I embark on something new, such as the Addicted2Success podcast, I get excited. I've learned the journey is the most enjoyable part of the process.
All successful entrepreneurs look back on their respective journeys with a great fondness. Don't be afraid of the journey embrace it.
Related: 5 Worthwhile Investment Lessons I Learned From Warren Buffett
2. Cherish what drives you.
What drives me isn't money alone. It's what I can do with that money. For you it might be that big house, that fast car, or that dream vacation to Hawaii. Embrace what drives you. Use that to get you through the hard times.
I recommend putting it right in front of your face. Take a picture of the result and put it somewhere in your office where you can see it.
Related: 25 Leadership Lessons From Millionaire Business Owners
3. You're never rich enough to afford idle time.
"I don't have the time." I hear this excuse regularly but, sorry, but I don't care if you have a 9-5 job and two kids. Use the spare hour you get when the kids are in bed to learn something new. It's not a race. You don't have to dedicate your life to your new venture but if you only have an hour, use that hour.
Related: 50 Ideas for a Lucrative Side Hustle
4. Mistakes are tuition. Learn from every one you make.
It's quite simple. You will make mistakes. I have, and some were incredibly expensive. Don't go out of your way to make mistakes but learn from every one you do make. Set aside some time to reflect on why you made that mistake and what you can do to make sure you don't make that same mistake again.
Related: Learning From Failure Is What Makes Entrepreneurs Better Leaders
5. Adapt or perish.
Entrepreneurship is competition on a landscape that is always changing. You must either adapt or die. It's that simple. Constantly monitor your competitors and your market. Enjoy your success without ever becoming complacent.
Always be on your toes.
Related: Jeff Bezos Knows the Difference Between Content and Complacent
6. Starting is the hardest part.
Don't abandon your dream because of excuses and passing difficulties. Insteading of procrastinating because you're worried how long it will take, just get started. Do what you can today to bring your dream that much closer to fruition. Trust me, it will be the best decision you ever make.
