Every Entrepreneur Needs Some Backup

Entrepreneur Richard Branson writes in Business Day,

people tend to think of entrepreneurs as lone heroes, but this isn’t how it works in real life. Many live up to their reputation as risk-takers and some remain outsiders, but despite this outlier status, entrepreneurs need support to be successful.

In fact, we’re a lot like Formula One drivers: the person in the cockpit gets all the glory since fans tend to forget about the pit crew and all the behind- the-scenes effort it takes to keep the driver out on the track. Business is no different, since an entrepreneur does not succeed alone.

This difference is more important than many people realise. Small business owners are crucial for a thriving country – they are the engines that power economies, create jobs, fuel growth and, ultimately, transform communities. This means that it’s vital that governments, investors and educators find ways to harness this energy. It also means that encouraging entrepreneurs to start again when a business fails is fundamental to a healthy economy.

For example, an entrepreneur picking himself up after a setback may need a mentor to remind him that outlook is everything. My parents taught me from a very young age the importance of maintaining a positive attitude and of taking responsibility for my actions. These are two invaluable building blocks that have shaped my career.

Continue to read ‘Every Entrepreneur Needs Some Backup’.

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