What is your tolerance level as an entrepreneur ?

Author : Sunil Shah , Founder : https://adviceyogi.com/

Tolerance level   ????   How tolerant are you to following  factors  ? 

Ambiguity / Risk / Failure / Rejection .

If you think about your venture , however passionate you are,  however committed you are as an entrepreneur , you know that there are risks involved . And you also know for sure  that certain risks are far beyond what you can manage. But you should have tolerance for these kind of risks.

failures : stepping stones

You might fail multiple times in while making good business plan,  developing a prototype, distribution network  etc  .

One of the most important attribute  of you is  that you are  failure tolerant , you  understand that the failures are stepping stones . They encourage you to come with something better , some thing improved over the previous one  .

 You need to come out of each failure with same passion and clarity of purpose you had when you started . Therefore, your ability to manage these failures and go ahead is critically important.

Ability to cope up with rejections : Keep trying

 When you say that I am an entrepreneur, I am coming up with this venture  and you go to the high net worth individuals or you go to  venture capital investors for funding , you are likely to get rejection too, because they might find some other better venture to invest in . You might face several such rejections .

You need to ensure that these   kind of rejections should not make you  a kind of person who is withdrawn. You need to  be tolerant towards rejection, this is time to show your  resilience. Your ability to tolerate rejection and go ahead and press ahead with your thought process and plans will be tested here .

learn to opearte in ambiguity

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Always remember that  you are  launching  your  start-up in VUCA environment . (VUCA : Volatility, Uncertainty, Complexity and Ambiguity)

Success is a journey , scaling more heights in the way come what may !

Your  ambiguity  tolerance (the   degree to which you are  comfortable with uncertainty, unpredictability, conflicting directions, and multiple demands) will  play a significant role in   success of  your  start-up  and  will eventually enable you to leverage and manifest the true entrepreneur inside you !!

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