1) It’s Okay to Fail
Failure is a part of entrepreneurship. In fact, from my experience so far, it feels like most entrepreneurs don’t have what it takes says Paul Haarman. If you haven’t failed yet as an entrepreneur, you’ve been lucky so far.
One of the first lessons I learned about entrepreneurship was that failure isn’t necessarily a bad thing – especially if that failure comes with knowing something new and valuable along the way explains Paul Haarman. If we’re going into this expecting every endeavor to result in success – which is how many people go into entrepreneurship – then we’re setting ourselves up for a lot of disappointment because even “successful” entrepreneurs usually fail at several things before they find their ideal path forward.
You should expect to fail, and you should be okay with that. Even if you’re still working on your first idea and it’s not taking off just yet, there’s a good chance that it will work out. The key is to keep trying new things until one of them sticks.
2) It Doesn’t Have to Be Perfect
This seems like an obvious lesson, but I’ve seen so many people give up on their great ideas because they didn’t think anything was perfect at first glance. Don’t do this! You can continually improve your product or service later on – and chances are you’ll want to anyway once the initial launch phase settles down.
“Good enough” is fine. Don’t be afraid to stop tinkering and launch your idea. I know this is a tough pill to swallow because so many of us have been taught to always strive for perfection, but as entrepreneurs, we don’t have that luxury – or at least not as much as our corporate counterparts. In the start-up world, it’s all about getting your product out there ASAP, seeing what works and what doesn’t, then improving along the way.
When you’re first starting, don’t worry about making everything perfect; focus on making something better than anything else out there! If you do that, you’ll soon find yourself in front of millions of people who are begging for what you’ve got to offer (and willing to pay for it).
3) It Doesn’t Have to Make money
This is another lesson that seems intuitive but one that so many people forget. When we see examples of successful entrepreneurs and the piles of money they make, we start to believe that you have to be rich to be an entrepreneur – or at least you have to know how to make a lot of money. In reality, this couldn’t be further from the truth!
Plenty of great entrepreneurs aren’t focused on making millions – if not billions – of dollars. Instead, their primary goal is solving a specific problem or creating something extraordinary for other people. Paul Haarman says you can do this too! Heck, Mark Zuckerberg didn’t even try to make money with Facebook until his company had nearly 500 million users!
If you’re just getting started, don’t worry about finding a way to make money. Make something that people want or need, then figure out how to monetize it after you’ve established user interest. Just because an idea doesn’t have financial potential at first glance doesn’t mean it isn’t worthwhile; even the best entrepreneurs needed multiple attempts before they found their golden goose.