![]() Others do it to help mankind, often for very personal reasons. Some people do it for money or other material rewards. The struggle to make things better has persisted since humans discovered cooking food with fire and invented the wheel. When asked later if he was ashamed of these results, he famously said, “Results! Why, man, I have gotten a lot of results! I know several thousand things that won’t work.” The Drivers Of Entrepreneurial Spirit Thomas Edison tried and failed many, many times to perfect the light bulb. Never let a “no” or failure dampen your ambition, desire or will to win. And persistence, once again, is the absolute ultimate characteristic of an entrepreneur and of someone who will get through tough times. Risk-taking is important because you are going to have to try new things because what you did before isn’t enough. Optimism-believing that things will get better if you just keep at it-is essential. Those may be external and out of your control, such as a recession, or external and internal, such as a “no” or failure, along with the entrepreneur's response to the situation.įocusing on three of the traits I cited above is the key to getting through inevitable challenges, however demoralizing they may seem at first. That is the entrepreneurial spirit in action! How To Navigate Tough Timesīesides death and taxes, another certainty is that entrepreneurs will run face-first into tough times. ![]() She would add the wildest ones to the folder and then review them on occasion to look for the nuggets that might contain possibilities. Sara Sutton Fell, CEO and founder of FlexJobs, kept what she called a “ Crazy Ideas File.” Anyone in the company could throw out an idea, no matter how unrealistic. That means nearly one-third of then-current sales were new and had come about rapidly during the crisis. Among 124 businesses contacted in the course of one survey, their leaders said that, on average, 29% of current sales were the result of changes made since the onset of the pandemic. ![]() Real-Life Examplesĭuring the Covid-19 pandemic, a tremendous crisis affecting everyone and everything, innovation occurred, and it occurred as a result of the crisis. Watson is often credited with saying it this way: “Would you like me to give you a formula for success? It’s quite simple, really: Double your rate of failure.” The people who get knocked down pick themselves off the floor and try again until they get it right and have an indefatigable entrepreneurial spirit. Linus Pauling, a winner of two Nobel Prizes, is believed to have said, “If you want to have good ideas, you must have many ideas.” Most of those ideas will not be good, but you have to be willing to fail in order to succeed. Persistence: I cannot possibly emphasize strongly enough the importance of persistence in the face of obstacles, setbacks and even spectacular failures. But I've noticed those with true entrepreneurial spirit never shy away from risk.ĥ. Some of us are adrenaline junkies who find risk to be energizing and embrace it in its many forms. Rather, it is often an innate characteristic. ![]() Risk-taking: It seems obvious to say that entrepreneurs are risk-takers, but once again, this is not just a situational response. That keeps them going, trying new things, plowing new ground and always thinking about the next challenge.Ĥ. And overall, entrepreneurs’ optimism is nearly impossible to deflate for more than a short period of time. This type of personality is optimistic about all possibilities, at least at the outset. Optimism: If you know someone who abides by the principle that “There must be a pony in there somewhere,” then I think you know someone with an entrepreneurial spirit.
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