Greatest Hope and Fear of Entrepreneurs

Quick Insight

The greatest hope is freedom. Owners want freedom to focus on what they love to do most. The greatest fear is the embarrassment of failure. It's scary to tell the world you're starting your company. What if you then must tell everyone that it didn’t work?

I’ve had the pleasure of talking with and teaching many entrepreneurs. I hear their hopes and fears. Two rise to the top.

The greatest hope is freedom. Owners want the freedom to focus on what they love to do most. They want to focus on servicing their customers. Having your own company means freedom of time and control over your career.

The greatest fear is the embarrassment of failure. It's scary to tell the world you're starting your company. What if you then must tell everyone that it didn’t work?

Some potential owners accept their business as an experiment with no judgment if it doesn't survive. Others would label themselves as a failure. Can you risk the loss of money and ego if your plans don't work? Those who can't quietly take paychecks from their employers.

I wish you freedom and boldness. I wish you well.

- Rob Stephens

Further Insight

The SBA SCORE did a survey of business owners concerns in their first year. See the results on page 8 of their report (page 10 of the pdf document)

CFO Perspective Resources

Video: How Do You Create Value? - You get what you value when you provide value to others. Business success comes from creating value for owners, customers, and employees. I’ll explain how to discover and increase what each group values. I’ll also reveal the “Three D’s” and “Three P’s” that each group wants.
Course: Entrepreneurial Finance - Small Business Financial Management Basics - Get a financial overview of the entrepreneurial journey from startup to operational decisions to exit planning. You’ll hear from a business banker guest speaker who explains what lenders look at when deciding whether to make a loan to a small business.
Course: Creating Value - Business Success from Shared Value - You get what you value when you provide value to others. Business success comes from creating value for owners, customers, and employees. In this program, you'll identify exactly what each of these three groups value and how to increase that value - and your success.

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