Number One Thing You Need To Be A Successful Entrepreneur

To be a successful entrepreneur you're going to have to learn how to take care of failure.  There's entirely no way around it. 

Thomas Edison tried over ten million distinct experiments until he eventually revealed the first incandescent light bulb on October 21, 1879.  Bill Gates’ first company, Traf-O-Data, was a failure. Michael Jordan once said: “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. But I kept going that is why I succeed.”

 I have failed over and over again in my entire life.  In my brief stint as an entrepreneur, I have failed more times than I can count.  I've also had my share of success, but it isn't even close to equal.  The failures far outweigh the achievements, and I am sure I have far more failure ahead of me.  I am OK with this because I know that as soon as I stop neglecting, I've stopped trying to innovate.

 It's the essence of the business of becoming an entrepreneur, and of achievement generally. It's naive to think that each great idea you have will lead to a successful business enterprise.   Consider that for a second.  Five businesses.  Sometimes the number is three, sometimes it's 20, but the significant point is that most entrepreneurs do not hit a home-run using their first business.

It really does amaze me how many individuals have the stones to fail five times and begin the sixth business?  You've got to be supremely confident and treat those preceding five occasions as a learning experience for the sixth.  And if number six fails, you must do the same and proceed to number seven.In my view, the main issue is how you deal with failure.  As soon as you accept that it is inevitable, you can learn from your mistakes and proceed.  It's easy to allow the failure consume you -- not so much because you're cynical, but more so because it's difficult to see something which you poured your heart and soul to be rejected or ignored. 

Whenever possible, you will need to come to the understanding that your company is what they're ignoring or rejecting, NOT you.  The sooner you do so, the sooner you can examine why you failed and learn the things necessary for advancement in the future.Failure isn't simple and is very frustrating, but it is an essential part of success.  Do not believe me?   Ok, inquiring Thomas Edison might be a little tough, but you get the idea