30 Rules to Success #30 Take Risk
The entrepreneurs making headlines in the world today and in the days of the past like Bill Gates, John D. Rockefeller, Henry Ford, Barbara Corcoran, Donald J. Trump, Richard Branson, and much more took significant risks to get what everybody else dreamed of acquiring. Unlike most people in the world today who have ideas, they are constantly afraid of taking risks that will increase their margins.
Successful entrepreneurs have a tolerance of ambiguity, which is the ability to withstand the fear of uncertainty as well as a potential failure. Michael Sherrod, the entrepreneur — in — residence at the prestigious Neeley School of Business at the Texas Christian University says,
“it all boils down to having the ability to manage fear successfully.”
Calculated risks are the way to go instead of blindly making leaps of faith. As the adage goes, you do not test the depth of the river with both feet, so it is necessary that you be careful with the kind of risks you take and always have a plan.
There are many Risks & fears associated with going into business. From the fear of failure, humiliation, running out of cash, missing payroll, et al. to many successful entrepreneurs, it is fear that makes them work hard and achieve their targets. Blashack Strahan, the founder, and CEO of Tastefully Simple say, “the ultimate entrepreneurial test takes place on the battlefield found in the mind.”
To be a successful entrepreneur, you must commit mentally, and it is the basis for the action that follows. Learn to manage fear even in the face of adversity and have the conviction that you have control over the outcome of the situation.
