How to Fail as an Entrepreneur

Posted by Squawk Media under Startups
From http://therestofyourlife.com 4194 days ago
Made Hot by: problogger78 on May 28, 2013 5:44 pm

Why Leo Babauta's advice on following the entrepreneurial path of not knowing is wrong. For example, if you are planning to start your own business, you need to be prepared to control outcomes – to be willing to move heaven and earth to control outcomes. Entrepreneurs are, above all, people who seek to control outcomes. Entrepreneurs have a vision for their business’s success. They have goals to get to that vision...

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Comments

Written by tiroberts
4192 days ago

Great piece. You have to put in a lot of time and effort to become a successful business owner and entrepreneur. Thanks for sharing your insights with us.

Ti

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Written by tcamba
4194 days ago

I honestly think Leo is right. I guess, I'm not the type of guy to stress myself out too much. Failure is never inevitable in business. There are a pool of entrepreneurs out there who work so hard everyday and their businesses ending up as failures. Entrepreneurs need to let go of one thing they can never have, control. Once you learn to let go, you'll see things more clearly and become a better entrepreneur. Just my two cents. Thanks for sharing in Bizsugar!

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Written by BizRock
4194 days ago

Hard work is the key of success which is very important for everyone to get a better life...Successful formula for successful entrepreneurs.Thanks for useful article!

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Written by HeatherStone
4194 days ago

Hi Rick,

Thanks for the insight. I enjoyed reading your post via the BizSugar community. One observation I'd make about Leo's points here. I agree it's probably a bit extreme to suggest that failure is OK. However, I can understand that entrepreneurs may sometimes be unable to see or to understand the best outcome of their business models. We've all heard the stories of entrepreneurs who go into a business only to discover its the wrong one. They realize the product they're trying to market would be better as a service. They realize the target market they're aiming at is all wrong. Somebody totally different likes their product. It can be inconvenient when a business doesn't translate smoothly from plan to reality, but the best entrepreneurs can adapt. Thanks again for sharing!

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