Entrepreneur Insecurity

Entrepreneurs are always feeling insecure according to  Rick Spence.

He is commenting on a list of entrepreneurs’ top three fears as published by marketing specialist Warrillow & Co.  What really scares business owners are not the day-to-day aches and pains, such as sales, rising taxes or increasing competition; the real fears spring from deep in the entrepreneur’s insecure soul.  These fears are:

  • Fear of not marketing effectively (38%).
  • Fear of never being able to retire (33%).
  • Fear that they’re not staying abreast of new technology (20%).

Spence has some useful tips to help remove or alleviate these feelings of insecurity.  However perhaps insecurity is part of the drive that propels entrepreneurs to make it happen.

That is the view of an expert quoted by Leslie Whitaker in an item on Entrepreneur or Employee?  Fernando Trias de Bes is the author of The Little Black Book of Entrepreneurship and the owner of a marketing firm in Spain.  

Trias de Bes believes that one common mistake is failing to distinguish between being spurred by a “motive” (I lost my job, or I hate my boss) and having the “motivation” to be an entrepreneur. The latter means being someone who “enjoys the uncertainty and insecurity of not knowing what will come tomorrow.” . He also suggests that you need “enormous, colossal and infinite enthusiasm” to drive away thoughts of failure.  A third characteristic, tenacity, is also necessary to make up for deficits in the other two. No matter how solid your entrepreneurial spirit, you need persistence to succeed.

As an entrepreneur, one can never completely remove insecurity and perhaps that is a necessary stimulus to ensure complacency does not set in.  At the least, you always have to be watchful of the external influences such as competitors and governments and be ready when the unexpected happens, as it surely will. Whether you call that insecurity or alertness, it’s a necessary activity for the successful entrepreneur.

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