THE RIOT POINT

The Lab

The fruits of riotous experimentation.

S1 E4: This I have learnt—The Entrepreneur. Anthony Borg.

The life of the entrepreneur. All goodies and glamour if you believe the business press, but these reports often avoid revealing that (at least) eight out of ten businesses fail within the first three years.

So what makes a successful entrepreneur? It seems they share three approaches:

  1. They share risk with others. Certainly their appetite for risk is above average, but their risk taking is brave rather than foolhardy. Risk is mitigated and rewards are shared  through collaboration with others. Everyone has 'skin in the game.'
  2. They recruit and lead diverse teams. Successful entrepreneurs recruit members into a team whose skills and styles compliment but don't duplicate. They often have a diversity and energy unseen in larger organisations.
  3. They have unshakable self-belief. Successful entrepreneurs believe that can make a difference and back themselves. They don't look to others for affirmation, they don't dither, they don't seek perfection. They seek success.

Even we don't have the appetite to be an entrepreneur, these are insights we can exercise to help achieve success—not perfection.

Do not be too timid and squeamish about your actions. All life is an experiment. The more experiments you make the better. What if they are a little coarse, and you may get your coat soiled or torn? What if you do fail, and get fairly rolled in the dirt once or twice. Up again. You shall never be so afraid of a tumble.
— Ralph Waldo Emerson