As an entrepreneur, I have learned several times that you have to stay the course, no matter what comes up. There will be times when you feel like you’re moving through molasses toward your goals. The one thing to remember is that you’re moving! Here are three elements in the pursuit of success that entrepreneurs must embrace.
Janet Fitch said, “The phoenix must burn to emerge.” I love this quote because it tells me that you can fail and you will fail. But, failure is only another step forward in the pursuit of your goals.
Another thing to understand in entrepreneurship is that at times you will have to change. The successful entrepreneur will realize when a change is necessary and do it. Sometimes success calls for you to change several times. Don’t worry; it’s all a part of business.
Ben Franklin knew about change. He stated, “When you’re finished changing, you’re finished.” This powerful statement on change tells us that change happens all the time. Very seldom do you find the right path the first time through. As you go through your entrepreneurial path, you will make changes. Don’t fear change, embrace it. In fact, you should plan for changes and those on your team need to understand that change is inevitable.
Over the past ten years, I have worked with risk analysts. I’ve learned a great deal about risk. For entrepreneurs, learning to take risks might be a difficult thing to embrace. Yet, it is necessary to meet success.
Don’t jump in and take a risk. Risk tolerance is, “The willingness of some person or organization to accept or avoid risk.” Think of it as gambling at a slot machine. Are you willing to ‘risk’ $1 or $5 in that machine? So, take a moment to establish your tolerance level. Once you’ve established this level you can decide when to take a risk. Remember, your tolerance level can and will change. The main thing to remember is that taking a risk is not a bad thing. Successful entrepreneurs take risks. They also know when to not take risks.
These three items are not the Holy Grail to success, they are merely three things that you should consider in your journey.