Some of the Biggest Failures are the Most Successful Entrepreneurs

I'm often asked what it takes to be a successful entrepreneur. Although I don't necessarily consider myself an entrepreneur, I do take a lot of cues from success stories like Richard Branson. Branson said he's started 300 companies in his lifetime, and 220 of them were huge failures. But an entrepreneur is one who has the ability to fail, dust himself off and do it over again.

If you've got passion for what you do, know your business well and have a good mentor, perhaps you could be the next great entrepreneur. Watch this video for more insight. And let me know what you think. What else do you believe it takes to be successful?

Comments

[ben murphy]

I agree 100%, particularly the sentiment about taking advice from good people.

I don't think this is something limited to entrepreneurs or business. Most people can't do anything non-trivial without a lot of failures up front. How many world-class athletes, musicians or artists were perfect after their first attempt? For that matter, how many people haven't failed in relationships to friends or families in the past, learned from those failures and become better human beings?

Entrepreneurs are passionate people who are likely to internalize failure. Learning to let go and turn failure into an opportunity to learn and improve yourself is the key.

Successful entrepreneurship is too much of a 'mystery' these days. I would like to see it taught in K-12 schools and treated like any other subject. Whats ironic is most successful business leaders are happy to give away the secrets of a real competitive advantage, but most students are never exposed to the basics.

[Paul Gabrail]

Ben, Thanks for the comment.

I agree with almost all of that. I don't think entrepreneurship should be taught in school because it can't be taught. It's the reason why a lot of MBAs aren't able to run small businesses even though they are taught at some of the best schools.

It takes a lot of initiative and passion for what you are doing and that isn't taught. It just is. I do believe it can be harvested in someone's environment, but to be taught as curriculum is too difficult.