How much should an entrepreneur worry about the future?

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I feel like these last few years have been all about startups. You constantly hear about this startup doing this and that doing that. The idea of owning your own company, pushing ahead with your own ideas and innovations and taking the world on head first is an ideal many of us strive for.

Of course. as cool and awesome as it seems the hardships, worry and general day-to-day business aspects of being an entreprenear are rarely pushed to the forefront of the conversation.

Running your own small business is hard work and takes a lot of your time, patience and bravery to pull off. You also need a lot of sense and know when it’s right to shift direction or even pull the plug.

I have worked for myself now for years, for 5 of those years the bulk of my work has been online, something that gives me a lot of freedom. My business has had many shifts and ups and downs but I think it’s all been worthwhile.

I purposely keep my operation pretty small and am careful not to overextend myself. For me the idea of hiring people (although I do sometimes collaborate) is a big worry that I don’t think I can handle. I do worry about the year ahead, where my business is going and how I can grow and keep myself stable

Of course all of this is normal and as the infographic below shows entrepreneurs around the world all worry about the future.

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Of course with the worry comes optimism and self belief. A defining trait of a successful entrepreneur is belief in ones-self and one’s ideas and determination to make them work. Many highly successful business people have failed on multiple occasions but have had the heart to pick themselves back up and go at it again.

I think worry is important, it shows that you care about what you are doing and have a sense of realism. Worry will allow you to bring yourself down to a level where you can analyse your position and hopefully find problems that need addressing.

Of course worry also consumes some people, creates needless doubt and breaks belief in what people are doing. As with everything a balance is needed for it to be healthy.

So what is the right amount of worry?

I think it is hard to judge but you need to speak to someone else about your worries and ask what they think. Personally I think analysing all situations is a form of healthy worry but worry that leads to a depletion of self worth or even depression is over the line. Your best defence for staying on the right side of the line is other people.

Even if you are a one-person shop you should find people in similar positions to ally and network with. Talk to honest friends, family and if you really need to a medical professional.

What do you think?

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14 Responses to “How much should an entrepreneur worry about the future?”

  1. Thomas S. Moore

    12. Oct, 2012

    Being an entrepreneur is just not easy if it was everyone would to do and more people would be successful. The thing is some people like the comfort of knowing what they check is going to be and how much. When you run your business you may not get the same pay every month. That worries the heck out of people.

    I think one key thing that a lot of successful business and startups have in common is a strong network. Sometimes who you know is more important then having the best product.
    Thomas S. Moore recently posted..Sneaker Friday’s Part 1My Profile

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    • Forest

      12. Oct, 2012

      Hey Thomas, a network of support is definitely a bonus and huge help.

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  2. krantcents

    12. Oct, 2012

    I don’t think you should worry, but you should have a 5 year plan. This is true for small and large businesses as well as individuals.
    krantcents recently posted..Friday Night Links: Last & Final EditionMy Profile

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    • Forest

      12. Oct, 2012

      Larry, you always have sensible comments to add and I certainly agree with that.

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  3. Ruth P

    15. Oct, 2012

    I am glad I’m not the only worrier, though I try to keep it under the surface most of the time. When it does start coming up, I usually have to talk to someone objective and go through the facts to make me realise that my worries are probably unjustified. Still, I do think a little worry helps you analyse things properly like you mentioned.
    Ruth P recently posted..Preparing Your Business For An Internet-Free VacationMy Profile

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  4. falcon

    16. Oct, 2012

    Very good infographic, it speaks a lot of ideas in a very short scroll of page.
    falcon recently posted..How SME’s can cut their gas usage to avoid being hit by the jump in pricesMy Profile

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  5. Marie at Family Money Values

    17. Oct, 2012

    Don’t worry, plan – it may be just a different word for the same thing, but if you anticipate situations and plan for them it implies you are ready to take action. If you anticipate situations and worry about them, it implies you have no clue what to do if they occur.
    Marie at Family Money Values recently posted..The Family Office – An Insider’s ViewMy Profile

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  6. Dominique Brown

    19. Oct, 2012

    Running your own business takes a lot of time, patience, and effort. Sometimes, it is also financially challenging because you won’t have a dependable fixed income, and there are times when you have to work long hours to make sure that your business is running smoothly. But, if you do your business right, you will have the potential to earn a significant amount of income to help you reach your financial goals. It is very important to have a network of people in similar positions to help you out & provide you with new ideas on how to run your business properly, especially if you are just starting out. Plan, Plan and plan.

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    • Forest

      21. Oct, 2012

      Hey Dominique, agreed, a network and a plan makes it much easier to handle and much more likely to succeed.

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  7. eemusings

    08. Nov, 2012

    Connections and collaborations are huge. I’m constantly amazed by how small the NZ entrepreneurial scene is – everyone knows everyone else.
    eemusings recently posted..Review: FatherlandMy Profile

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