5. Approach the risk of failure wisely
With every choice in life comes a risk. Apply past experiences that failed to inform your present self and positively impact your future. Step out of your comfort zone and take baby steps that tap into your discomfort and uncertainty, using these as your growth indicators. Carry out small experiments to evaluate the risk of failure. For instance, test market interest in a new product prior to investment via social platforms or crowdfunding. If there is a lack of interest, you can fail quickly at a very low cost.
Entrepreneurship is never easy and you will definitely fail in one way or another. The lesson is to pick yourself up after every fall and find success through a series of failures – the more you fail, the faster you will find success.