Entrepreneurs, like everyone else face fear on a regular basis. Domo CEO Josh James, who sold his company Omniture for $1.6 billion once confessed to being curled up on the floor at home, overcome by the magnitude of his perceived failure. With a kick in the pants from his awesome spouse, he eventually found his footing and his legendary success. So, what makes the successful entrepreneur able to face down fear of failure?
Some say an entrepreneur must develop a tolerance for the unknown, making decisions with less than perfect information. Some say they focus on the task at hand and not on the potential negative consequences. Some say you have to ignore the detractors while staying open to market input that makes your product better. Some say the entrepreneur must embrace failure and “learn to fail faster.” Josh once shared that concept in a entrepreneur awards venue with me and other attendees. Some would say an entrepreneur must have an amazing sense of self-worth, independent of what others say about them.
Well, some may say those things. I would say it’s all of the above and then some. Among the dozens of entrepreneur wannabes and startup geniuses I’ve provided entrepreneur consulting to, I see all of these traits. Some press themselves into this kind of thinking while others find themselves in the deep water of life and discover they know how to swim successfully with sharks and barracudas. One of my new heroes is startup evangelist Anna Vital. Here’s an infographic that summarizes her thoughts on the matter.