An impressive pedigree
Almost every extremely successful business owner took huge risks. Oracle’s Larry Ellison promised customers non-existent features and then had his developers create them. Tim Westergren of Pandora convinced over 50 employees to defer salaries, some for one or two years, when the company ran out of money. When the company was finally rescued by an outside investment Westergren had maxed-out eleven credit cards. Elon Musk founded an electric car company, the biggest solar energy supplier in the U.S., and then founded a space exploration company – at times risking the total collapse of each venture.
The list goes on and on – successful entrepreneurs often take small and big risks in order to grow their companies. Risk stops their results from being like everyone else’s.
Hindsight’s 20/20
The best business people know innovative products only look like a sure thing in hindsight. Twitter only makes sense in hindsight. Spanx only make sense in hindsight. Bottled water only makes sense in hindsight.
Innovative services, innovative pricing schemes, innovative marketing… all only seem like sure bets in hindsight.
Every groundbreaking idea or product only makes sense in hindsight; that's why it’s groundbreaking. The emergence of any new industry only seems inevitable after it has emerged.
And that means someone believed when everyone else did not.
If you believe when others don't – and if at least some of your belief is based on objective analysis and not just instinct – then go for it. Start a new business. Enter a new market. Take a chance on a new product.
No matter what other people say. No matter what the "smart" people say.
If you truly believe – and are willing to back that belief with hard work, determination, and persistence – then a risk you take may pay off in ways you never imagined. And if it doesn’t, pick yourself back up and try again… because you only lose if you give up.
