Here’s another of The 8 Patterns of Highly Effective Entrepreneurs. It’s a common perception to think of entrepreneurs as having Peter Pan syndrome in that they don’t want to grow up and let go of their dreams. But the reality is a successful entrepreneur must not only have lofty goals and the tenacity to relentlessly pursue them but also a firm pragmatism that keeps them grounded in reality.
Risk taking is an entrepreneurial characteristic but it is calculated risk. Entrepreneurs are willing to bet a lot of time and money on their big hairy audacious goals. There is always some element of luck or gambling, but it is never reckless gambling. And if and when the time comes to bet all their chips on what looks like a winning hand, they’ll do it without hesitation.
It’s not unrealistic for you to build a successful Internet business if you have a successful attitude toward risk. And it’s not unrealistic to expect that you can be making money online quickly. It is unrealistic to think you’re going to go from zero to $1 million in a week if you’ve never made a dime online. That’s not an entrepreneur, that’s an idiot.
Entrepreneurs are willing to take huge risks and suffer the consequences of placing the wrong bet, but there is nothing reckless about their willingness to take risks. When ordinary people think of risk, their expectations of failure are high. When entrepreneurs think of risk, their expectations of success are high. One entrepreneur interviewed in the book said “I don’t think of myself as taking risks. Risk implies failure…I don’t have aversion to risk because I don’t even see it.”
I agree. There’s risk in wrestling alligators, swimming with sharks, or messing with any other animal that sees me as dinner. I don’t see much risk in an Internet business. I expect to fail along the way but anyone with the tenacity to persevere, learn from their mistakes, make adjustments, and keep trying will eventually succeed so where’s the risk? To me success is a question of “when” not “if.”
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