10 years of fiddling with entrepreneurship and this is the most important lesson for me
Jay • www.sectar.co
22 replies
The hardest thing to deal with as an entrepreneur is not risk or failure. It’s uncertainty.
Especially when you are just starting.
What’s the difference?
Doing something even though you know that the odds of failure are higher is a risk.
Doing something even though you know nothing of the outcome is uncertainty.
This can get very intimidating at times.
The possibility of failure can be hard to adjust. But the thought of not knowing anything can be daunting.
What's the most important lesson you learned?
Replies
Oisin O'Reilly@oisin_o_reilly
The entrepreneurial journey is a continuous learning process, and adaptability, resilience, and relationship-building are integral components of achieving sustained success.
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I know that uncertainty stops the development of business, and it is not clear where it will go.
Perhaps the topic of uncertainty and unknowns can be expanded:
Based on my experience
there are two folds between success and failure:
1. Project selection
2. Level execution
You have to choose the right project for you, your skills, your runway with a clear path to profitability.
You have to be able to pull it together. You have to execute at a high level and high speed. You have to be a force of nature. A doer.
Get on a wrong boat, doesn’t matter how hard you row.
Find a great opportunity, it doesn’t matter unless you can execute at +A level.
@getsharp_au Couldn’t have put it better. This is really good.
Choose the projects that have the maximum possibility of you being able to pull off at a very high quality.
Trying to fish in an empty pond isn’t worth your time or effort.
I completely agree with you on the importance of uncertainty as an entrepreneur. It's definitely one of the toughest things to navigate, especially in the early stages of starting a business. The fear of the unknown can be really daunting.
Lancepilot
Hey Jay, dont you think if i dont know something then i should first focus on learning? Because if everything is uncertain then i am just on a mission of suiciding. In my opinion the entrepreneurship journey should begin with learning and then implanting. The success should be engineered not a a circumstance. I hope this make sense ( :
What I've learnt is that distribution is more important than the product itself. good products with great distribution win over great products with good distribution
btw we just launched in an attempt to distribute our product and would love your support :)
producthunt.com/posts/findr-5
The biggest lesson for me has been the importance of time management. I've been at it for 15 years full-time and managing time is a constant challenge. There are endless things to do, but not all of them are equally important or productive. Success requires focus on the right things instead of the distractions.
You have to be able to pull it together. You have to execute at a high level and high speed. You have to be a force of nature. A doer.
I completely agree with you on the importance of uncertainty as an entrepreneur. It's definitely one of the toughest things to navigate, especially in the early stages of starting a business. The fear of the unknown can be really daunting.
Level execution