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Think Like an Entrepreneur

8. Minimal tolerance for risk: Ask yourself what specific risks are intoler-

able. Separate them into small pieces so you can gain clarity. You need
to take risks to accomplish your entrepreneurial dreams, but you can
manage these risks, and put them in perspective.
There are a few ways to look at risk tolerance. Here is Gordon’s
1- in-5,000 rule. My passion is traveling and experiencing the wonders
of our world, so years ago, I asked myself, “What is my risk tolerance

for flying? What if one plane in one million goes down? One in
100,000? One in 1,000? One in 100?” I concluded that my risk com-

fort zone for flying is about 1 in 5,000, because living with absolute
fear and zero risk tolerance would prevent me from pursuing my
passion for travel. What kind of a life would that be? To me, none at
all. Ask yourself, “What is the risk I’m willing to take, for the reward
of pursuing my entrepreneurial career?”
9. Inertia . This happens to everyone. Brainstorm with friends. Ask them

to help you define your inertia. Reexamine your goals.

Personally, when I get stuck, my frustration goes sky high and I
have to do something! That’s my advice to you—do something! Take one
extremely frugal step in any likely entrepreneurial direction. Action
will lead you out of the wilderness.

10. I still don’t think I have what it takes to be an entrepreneur: Not true!!—As

mentioned earlier, everyone has the potential to learn and enhance
their 11 Essential Entrepreneurial Power Skills.
As your toolbox of traits becomes stronger, you may gain the con-
fi dence to jump into the Trying Game. At the very least, you will feel
more in control of your life, and eventually, your entrepreneurial pas-
sions may grab hold of you and drive you toward the start-up of your
own business.

This chapter speaks to the achievement of your entrepreneurial dream.
It speaks of great courage, unbridled passion, laser focus, and massive
commitment. I’ll leave you with these words from the author and poet
J.W. von Goethe:

Until one is committed, there is hesitancy, the chance to draw back,
always ineffectiveness . . . Whatever you can do or dream you can, begin
it. Boldness has genius, power and magic in it. Begin it now.

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