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Advice for the Entrepreneur: Lee’s Tip #256

Lee's Tips,Seller Resources

When defining entrepreneurialism, risk-taking is often the first element mentioned. The result of some risk-taking is failure; that’s why it’s called “risk”-taking. Many entrepreneurs have filed for bankruptcy, lost everything, and had to start again from the ground up. Some give up, while others go on have successful businesses.

So what makes the difference? The first group gives up because to them, a failure means that they were a failure, not that the project failed. But even if you make mistakes that led to the failure, you haven’t failed; it’s the project that failed, and you took the opportunity to learn from your mistakes. Successful entrepreneurs try, try again. Risk-taking by its very nature means there is a possibility of failure. Don’t be afraid!