To be a successful entrepreneur you are going to have to learn to deal with failure.
There is no way around it. Thomas Edison tried over ten thousand different experiments before he finally demonstrated the first incandescent light bulb on October 21, 1879.
Bill Gates’ first company, Traf-O-Data, was a failure. Michael Jordan was once quoted as saying: “I’ve missed more than 9,000 shots in my career.
I’ve lost almost 300 games. 26 times I’ve been trusted to take the game-winning shot; And missed.
I’ve failed over and over again in my life. And that is why I succeed.”
In my short stint as an entrepreneur, I’ve failed more times than I can count. I have also had my share of success, but it’s not even close to equal. The failures far outweigh the successes, and I’m sure I have a lot more failure ahead of me. I’m OK with that because I know that as soon as I stop failing, I have stopped trying to innovate. It’s the nature of the business of being an entrepreneur, and of success in general.
If it were easy, everyone would do it. It is naive to think that every good idea that you have will result in a successful business venture. I have yet to hear an entrepreneur say “every single idea I come up with seems to work.” More likely, you hear something like “I failed at my first five businesses before this one took off.”
Think about that for a second. Five businesses. Sometimes the number is three, sometimes it’s 20, but the important point is that most entrepreneurs don’t hit a home run with their first company. It does amaze me – how many people have the stones to fail five times and still start a sixth business? You have to be supremely confident and treat those previous five times as a learning experience for the sixth. And if number six fails, you have to do the same and move on to number seven.
In my opinion, the most important thing is how you deal with failure. Once you accept that it’s inevitable, you can learn from your mistakes and move on. It’s easy to let the failure consume you – not so much because you are pessimistic, but more so because it is hard to see something that you poured your heart and soul into be ignored or rejected. As soon as possible you need to realize that your business is what they are ignoring or rejecting, NOT you. The sooner you do that, the sooner you can objectively analyze why you failed and learn the things necessary for improvement in the future.
Failure isn’t easy and is extremely frustrating, but it’s a necessary part of success. Don’t believe me? Ask Thomas Edison, Bill Gates or Michael Jordan! Ok, asking Thomas Edison might be a little tough, but you get the idea 🙂
For Those Who Are Sick Of Their Jobs Working For Others
The majority of people are trapped in the rat race having jobs working for others but do not know how to get out. This article offers a way out to achieve freedom through earning passive income. Internet business is recommended because it is an exciting, rewarding and best home-based business. Tips are given that are designed for professional business working from home.
If you’re given a choice of making $500 as a one-time payment OR getting only $100 but paid this amount every month for 20 years if not for life, which would you choose?
If you work only once and get paid many times over, you’re earning a RESIDUAL INCOME. Of course, you’d choose the latter.
Elvis Presley today “continues” to earn residual income even after death because his records continue to “work” for him due to continued demand from his fans.
Therefore it goes without saying that to build wealth, you need to tap into RESIDUAL INCOME.
Very often this is also referred to as “PASSIVE INCOME” because you could afford to be passive or non-active (i.e. not having to work) and continue to receive income.
If you’re like most people, you’ve been conditioned your whole life to think about income as a process of trading time and effort for money. Like the majority, you have been brought up to have only one major objective in life – JOB! Incidentally, if you don’t already know, too many, JOB stands for “Just Over Broke”.
You work hard in schools so that you could get good grades to advance to colleges and universities where you work even harder so that you could get a good and secured JOB. Once you’ve got the jobs you want, you continue to work very hard to maintain them and to climb the so-called organizational ladder of success.
As a result, many have fallen into the trap of the RAT RACE and you know very well you can’t afford to stop because if you did, so would your income!
Although some of us could be drawing quite a handsome income, we’re not truly “wealthy” because we’re not free to do what we want and when we want with our money.
I’ve heard of many sad stories of “rich” EMPLOYEES not being able to spend badly needed valuable time with members of their families who’re sick in hospitals because they could not afford to be away from their place of work for too long as their services are urgently required by their employers. Doctors could not even really relax and enjoy a long vacation for fear of the loss of income or patients while their clinics remain closed.
Can I have a PASSIVE INCOME? You might ask. Indeed you can!
About 60 million people have access to the Internet – and yet it is still in its infancy. Every month millions of newcomers and thousands of businesses are reported to be setting up online. With this huge and expanding audience coupled with the fact that marketing and advertising can be done on the Internet so easily and at only a fraction of the costs of traditional methods, we now have a fantastic opportunity to be successful in online business.
Many companies have now aligned themselves with the Internet which has created many new paradigms in the past few years. Residual Incomes are made available to people from all walks of life. You can now make money online with the simple and proven formula used by many to earn multiple streams of residual income.
However, don’t believe what you’ve heard or seen on the Internet. Scepticism is encouraged because some dishonest people are creating a lot of hype, unfulfilled promises and scams going around the Internet.
Fortunately, however, these are the exception, rather than the rule. You must be able to feel confident about using the services offered by “Internet Business Gurus” to help you make money online before you sign up. If you have any slightest doubt at all, drop it and move on to another.
Many belong to reputable organizations such as iCop