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What we have most to fear is fear itself

What we have most to fear is fear itself

Have you noticed how often people draw back from trying something new because of fear? Fear that they might not make it; fear that the outcome will not be as good as they hope that it will be; fear that change may prove that what they’ve been doing until now isn’t as good as they’ve made it out to be; fear of being seen to make a mistake—even if that error is essential to finding the correct answer. This fear of taking risks in life risk stymies all too many people, especially those who have tasted success in the past. Successful people like to win and achieve high standards, so they become deeply invested in their continuing success. and in their past track record. That’s what makes them frightened of failure. They don’t care to put their reputation as a “winner” at risk—so they stay in their comfortable rut, missing all kinds of opportunities for an even brighter future.

This is very sad, and it’s an easy trait to fall into. After all, when things seem to be going well, we generally decide to stick with what is so obviously working. “If it ain’t broke, don’t fix it,” the saying goes. Paradoxically, whenever things are going well may be exactly the right time to take some risks and make a few changes. The reasons?

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  • Life changes. If you’re doing well now, the only way (usually) is down, so it’s time to find a new way to prosper, before the old one gives out.
  • Change needs resilience, and resilience is born of confidence. When will your confidence be highest? When things are going well for you, or when they aren’t? You’ll cope with any setbacks far better when you’re doing so from a position of strength.
  • If you wait until life has dealt you some bad blows, those necessary changes will need to be made under time pressure and stress. That’s a bad time to make decisions. The more stressed and frantic you are, the more likely you are to make mistakes—and the less you’ll be able to recover from them.

Corporations often make the same error. They get complacent when the product line is selling well and profits are high, only thinking about new ways to please their customers when those customers are already going elsewhere. You know what they say about being fat, dumb, and happy?

The time to take risks is when you can most easily afford to lose or screw up. And here’s another thought: when a positive value, like achievement, becomes too strong in someone’s life, it’s well on the way to becoming a major handicap.

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Achievement is a powerful value for many successful people. They’ve built their lives on it. They achieve at everything they do: school, sports, the arts, hobbies, work. Each fresh achievement adds to the power of the drive to achieve in their lives. Against this background, failure becomes unthinkable. Sometimes they’ve never truly failed in anything they’ve done, so they have no experience of rising above it. Failure becomes the supreme nightmare: a lurking horror that they must avoid at any cost. And the simplest way is never to take a risk. Stick rigidly to what you know you can do. Protect your butt. Work the longest hours. Suck up to anyone in power. Double and triple check everything. Be the most conscientious and conservative person in the universe.

Then, if you have to do anything risky—and constant hard work, diligence, brutal working schedules and harrying subordinates won’t ward it off, it becomes logical to use every possible means to make sure you still don’t fail. Lie, cheat, falsify numbers, blame others, hide anything negative. I believe the collapse of ethical standards in certain major US corporations in recent years has had more to do with fear of failure among long-term high achievers than criminal intent. Many of those guys at Enron and Arthur Andersen were supreme high-fliers, basking in the flattery of the media. Failure was an impossible prospect. It was worth doing just about anything to try to keep it at bay.

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Beware of being fat, dumb, and happy. Beware of a lack of balance in your outlook on life, when one goal or value —however benign in itself —becomes too powerful. Over-achievers destroy their lives, and the lives of those who work for them. People too attached to “goodness” and morality easily become self-righteous bigots. Those whose values for building close relationships become unbalanced slide into smothering their friends and family with constant expressions of affection—and terrifyingly insistent demands for continual expressions of love in return.

Balance in life counts for more than you think. Some tartness must season the sweetest dish. A little selfishness is valuable even in the most caring person. And a little failure is essential to preserve everyone’s perspective on reality.

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Are you a safe pair of hands? Sometimes, dropping the ball isn’t a bad idea. Are you a positive person? Maybe you need to cherish your negative thoughts too. Are you successful? Everyone learns more from failure than they ever do from success.

In many ways, the saying that “all we have to fear is fear itself” is less trite than it sounds. Fear is the great destroyer of human life and happiness. If you’re successful, but constantly afraid of failing, all your success hasn’t bought you what matters most—peace of mind in the face of life’s constant unpredictability.

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Adrian Savage is a writer, an Englishman, and a retired business executive, in that order. He lives in Tucson, Arizona. You can read his other articles at Slow Leadership, the site for everyone who wants to build a civilized place to work and bring back the taste, zest and satisfaction to leadership and life. His new book, Slow Leadership: Civilizing The Organization

    , is now available at all good bookstores.

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    Last Updated on October 18, 2018

    10 Key Characteristics of a Highly Successful Entrepreneur

    10 Key Characteristics of a Highly Successful Entrepreneur

    When it comes to starting your own business and pursuing your dream of becoming an entrepreneur, it can be advantageous to go all in and embrace the flexibility of finally quitting your day job.

    Keep in mind, though, that it takes a special kind of person to take the business world by storm: a person who has cultivated the key characteristics of entrepreneurial success.

    People with these characteristics are likely to succeed, whereas people without them have difficulty moving forward with even the most brilliant business ideas.

    These characteristics of an entrepreneur are so important that I’ve decided to cover all 10 of them in detail so that you can start your business with your best foot forward.

    1. Successful Entrepreneurs Practice Discipline

    Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

    To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

    Andrew Carnegie, one of the most financially successful Americans of all time, grew up working dull and difficult jobs in factories. Despite going to bed hungry some nights, he continued doing his best work. He was eventually hired by a railroad company and continued to move up the ladder until starting his own successful businesses. Carnegie is a fine example of an entrepreneur dedicated to discipline and hard work. He truly earned his dreams of prosperity and success.

    When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early.

    Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

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    2. Successful Entrepreneurs Keep Calm

    Things go wrong when you run your own business.

    Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

    Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

    Honestly, losing your calm is a quick path to becoming the kind of person who gives up in the face of adversity. Instead giving in to frustration, remember classic entrepreneur Benjamin Franklin.

    Franklin kept his calm as he experimented and tweaked his inventions again and again in pursuit of success. He didn’t give up during his many failures – he chose to innovate. You can choose innovation, too.

    If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

    3. Successful Entrepreneurs Pay Attention to Details

    Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

    As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

    Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

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    After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

    Skeptical about the importance of details? Look no further than Howard Schultz, who grew a small coffee shop called Starbucks into one of the most globally successful coffee businesses in the world through his extreme attention to detail.

    He is famous for taking all aspects of growing a business into account, paying attention not only to financially smart business decisions, but also focusing on socially responsible business decisions. Details can take you far.

    4. Successful Entrepreneurs Embrace Risks

    No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

    It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

    You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

    Embracing risks is essential for growth and additional success, as well. Walt Disney, for example, could have stayed comfortable with his advances in the film and animation industries, but decided to expand his brand with a new dream: a theme park that soared above the competition. Without taking this risk, the incredibly successful Disney theme park empire would never have come about.

    An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

    5. Successful Entrepreneurs are Balanced

    You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

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    As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

    Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

    Oprah Winfrey, one of the most successful and influential entrepreneurs out there, understands the importance of balance. Winfrey has a lot going on; she runs her own media kingdom, acts, produces films, publishes print, and more. In an interview with Fast Company,[1] she talks about her efforts to balance priorities and self care, saying that she must ask herself what is truly important in each limited day.

    You may or may not have as much on your plate as Oprah, but learning how to balance whatever you have going on in life will certainly help you farther along down the road as you learn to be a great entrepreneur.

    6. Successful Entrepreneurs are Passionate and Motivated

    In order to develop any of the above characteristics, you must have a foundation of passion. Staying disciplined day after day during the building of your business takes unrivaled motivation.

    Before you start any business, ask yourself if you can sustain true excitement about your idea during even the darkest days ahead of you. If the answer is yes, then good for you! Nurture your natural motivation by taking these action steps throughout your business journey:

    • Commit to making short and long-term goals. Check in with them often to stay on task.
    • Have a plan in place for the inevitable days when you feel discouraged. Make a list of things that will help keep you motivated and focused.
    • Share your ideas with trusted individuals who are just as excited as you are. They will help keep your enthusiasm rolling even when you are feeling down.

    By being prepared for apathetic days and holding fast to your authentic passion, you can actually enjoy your journey to success.

    7. Successful Entrepreneurs Adapt

    Remember this one word: flexibility. Seasoned entrepreneurs know that change is not only a part of life, but also a part of the business world. Expect change and choose to adapt.

    As a new entrepreneur, it will be tempting to cling to your original business plan with no exceptions, even if you notice it isn’t working. Good entrepreneurs know that it’s okay to make smart, informed changes in order to ensure efficiency.

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    8. Successful Entrepreneurs are Marketing and Sales Experts

    No matter what kind of business you are starting, a knowledge of marketing and sales will save you many headaches. A passion for creating a beautiful handmade lifestyle product is not enough to run a successful lifestyle brand; it is critical that you understand key business principles in addition to your natural skills or great product line.

    Not sure how to start? Taking business courses is a great idea, but you can also easily brush up on sales and marketing through free online resources. Check out these 10 Sales Skills Everyone Should Master To Be Successful to begin now.

    9. Successful Entrepreneurs Have Strong Money Management

    Along with sales and marketing skills, money management is a very useful tool in the box of the entrepreneur. Understanding how to best manage your money can be the difference between early success and early failure in the business world.

    If money management isn’t your strongest skill, prepare to hire a financial expert to help you with any tricky business that comes up. Financial guidance and knowledge is never a bad idea.

    10. Successful Entrepreneurs Ask Questions and Continually Improve

    Pride is a natural human quality, but it’s important to humbly conduct some constructive criticism every now and again on both yourself as a leader and your new business as a whole.

    Assess how things are going and be willing to make positive changes if necessary. Here’re 15 ways to cultivate lifelong learning.

    If you are always improving, then how can you ultimately fail?

    The Bottom Line

    Let me remind you of one important fact: the qualities of an entrepreneur listed here are not exclusively available to some people and elusive to others.

    Although some people may have natural strengths and weaknesses, these qualities can be learned by anyone interested in taking up the entrepreneurial challenge. It might not be easy to change old habits, but it is absolutely possible to cultivate these characteristics in yourself.

    Whether you’re a business owner or an aspiring entrepreneur, with hard work, you can train yourself to develop the qualities that truly determine the entrepreneurial spirit and future success.

    Featured photo credit: Unsplash via unsplash.com

    Reference

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