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8/8/07

What is the Best Education for an Entrepreneur?

Failure. I know this sounds counter intuitive but nothing motivates like failure. Failure is what separates the strong from the weak. Aspiring entrepreneurs that let failure consume their mentality until they no longer feel the motivational spirit or the entrepreneurial drive were never cut out to be successful.

Let me clarify something; when I say “failure,” I do not mean something so catastrophic that ends your career. When I say “failure” I am talking about the little setbacks that plague an investment or sometimes break a deal. These small but persistent problems are ten times worse than one huge problem. This is true because if one huge problem exists, it is still only one problem. If you have the strength and the integrity to fix the problem, then all should be fine. However, when you have seven, eight, nine, or whatever number of problems, this means that you have to be responsible for putting out that many more fires. It is the constant small problems that wear on an entrepreneur’s spirit.

Combating these small problems is tiring, however, for each problem you conquer, you gain a little bit more motivation, a little bit more drive, and a little bit more strength. Soon, all the little problems are fixed and your deal has been completed.

Thomas Edison once said, “If I find 10,000 ways something won't work, I haven't failed. I am not discouraged, because every wrong attempt discarded is often a step forward.” This is the best education for an entrepreneur. Remember that failure will most likely happen, but it is how you react to, and handle such problems that will determine your fate as an entrepreneur.


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