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Take two entrepreneurs.
One is a middling success. Doing OK, not great. Keeps things safe as a priority. Growth in single digits, has been that way for a while.
The second entrepreneur has made and lost millions.
Which of these business people do you most relate to?
I’m not one of life’s natural networkers. I tend towards the listen and observe rather than the life and soul of any party. You might think that means I miss out on a lot of social action, but it does mean I pick up on things that other people miss.
One thing I have noticed are the faux entrepreneurs. I don’t mean this in a nasty or even critical way, I just mean some people think they are one thing when in fact they are another.
While they think they are entrepreneurial, in fact they are risk averse business people, striving to not rock the boat, not push too hard, and “get there through honest hard work”. You know the type? In my father’s day they would have been the job-for-life folks.
For me the surest sign of a real entrepreneur is they are willing to make a bet on their own success. They put money and risk where their mouth is.
- If you will not risk some money on advertising your product, how good can it be?
- Why not pay for some specialist information or education if it will shorten the time to achieving your goals? Surely the goal is worth spending a little to acquire?
- Your expertise and knowledge is valuable, right? So you should be confident to speak about it? Why not?
Real entrepreneurs put something on the line, they accept risk because that is how they get the big rewards. I’m not saying you can rate it by comparing a dollar figure, and I am not suggesting every successful business person has risked their childrens welfare on every whim. You have to think though that if you are always playing it safe, you are not really stretching the boundaries of what is possible.
Perhaps this is a litmus test? If you are not willing to risk money or reputation on your venture, maybe your projects need a second look …
