Entrepreneurial Living: 7 Steps to Entrepreneurial Happiness by Dietmar Grichnik

Author:Dietmar Grichnik
Language: eng
Format: epub
Tags: Business & Economics, Entrepreneurship, Interest
Publisher: Anthem Press
Published: 2019-10-31T15:04:11.862000+00:00

The way out is: Control trumps prediction! For this you need three steps:

Convert your fear of failure into worry, define your affordable loss and bootstrap your means!

First: What makes worrying so much better than fear? Worrying is not vague but directed towards a specific object. Your stomach pains can now be treated, symptoms can be traced back to a cause. Easier said than done? Not at all. Our Superpreneurs do this by defining an affordable loss for their next game move. So ask yourself: ‘What is the first/next entrepreneurial move worth to me, what can it cost?’ and not: ‘How much would I like to win with it?’ (Here the prognosis is too uncertain – instead of a situation of uncertainty, which is what you are in fact in, you are letting yourself believe you are in a risk situation!) In other words, you are taking the first and following step into your entrepreneurial life in small, investigating steps, which you can afford economically, psychologically and socially. This way you are testing the different solutions to the customer problem, and if you fail, you fail quickly and cheaply with, in economic language, ‘affordable losses’. This not only gives you a sense of security but also provides you with a safety net in the form of a self-imposed limit.

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