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I don't think you require to believe as an entrepreneur. For example Elon Musk very well knows the possibility of failure. But it seems he finds it important e

I don't think you require to believe as an entrepreneur. For example Elon Musk very well knows the possibility of failure. But it seems he finds it important enough to try it. Same for Jeff Bezos, who has a regret minimalization strategy. So seems they are very aware of the possibility of failure, but it's important enough to try it. I like that, because it's a more rational approach than "I'm sure I can do it"

warent 6y ago
They tried/are trying those things because they believe there's a non-zero probability of success. Belief in success being a possible outcome is pretty fundamental to accomplishing any goal or strategy in general.
- koonsolo 6y ago
  That is pretty obvious. But believing you will succeed is still very different than believing you have a non-zero chance to succeed. If I remember correctly, Musk even had the mindset of "I will probably fail, but something good will come out of it, even if I fail". I think the details on this mindset matter on the "believe" part.
- username90 6y ago
  There is a non-zero probability of you winning the lottery, why don't you spend all your money on lottery tickets? Realistically assessing risk is necessary for success, being over-confident in your odds will just waste money or time. This means don't be over confident, but also don't be under confident.
  - closeparen 6y ago
    The odds on starting a business are pretty bad. You kind of have to ignore them, or else have some reason you think they don’t apply to you.
    - username90 6y ago
      You shouldn't ignore them. If the odds are bad and you only do it for the money then don't start a business, you'll just make yourself unhappy. Start a business because that is what you want to do, then the odds doesn't really matter because you aren't doing it for the money. Or because you have a good reason believing that your case is special. But absolutely don't believe your chances are great for no reason as the self-esteem enthusiasts would tell you. I see countless people wasting their life away chasing ideas just because their self esteem is way too high. Don't do that.
Taylor_OD 6y ago
You have to believe there is a chance you will succeed or you will not put in the work to do so. But you don't have to believe that you will be successful despite all odds. Elon Musk knew the chances of failure. He also knew the chance that he would succeed. The potential chance at success outweighed the potential loose from failure. That was my equation as an entrepreneur. I knew it was possible I would fail but the upside of success drew me in regardless.
- Retric 6y ago
  Plenty of successes where accidents, someone inherited a business, or pivoted a hobby, or whatnot. You need to put effort in, but the reason you do doesn’t need to related to seeking wealth. You don’t hear about these people as few people push much past 100m unless wealth or fame is inherently a goal.
- deleted 6y ago
  [deleted]
WalterBright 6y ago
Many entrepreneurs failed multiple times before finally succeeding. The quitters, of course, get nowhere.

warent 6y ago

They tried/are trying those things because they believe there's a non-zero probability of success. Belief in success being a possible outcome is pretty fundamental to accomplishing any goal or strategy in general.

koonsolo 6y ago
That is pretty obvious. But believing you will succeed is still very different than believing you have a non-zero chance to succeed. If I remember correctly, Musk even had the mindset of "I will probably fail, but something good will come out of it, even if I fail". I think the details on this mindset matter on the "believe" part.
username90 6y ago
There is a non-zero probability of you winning the lottery, why don't you spend all your money on lottery tickets? Realistically assessing risk is necessary for success, being over-confident in your odds will just waste money or time. This means don't be over confident, but also don't be under confident.
- closeparen 6y ago
  The odds on starting a business are pretty bad. You kind of have to ignore them, or else have some reason you think they don’t apply to you.
  - username90 6y ago
    You shouldn't ignore them. If the odds are bad and you only do it for the money then don't start a business, you'll just make yourself unhappy. Start a business because that is what you want to do, then the odds doesn't really matter because you aren't doing it for the money. Or because you have a good reason believing that your case is special. But absolutely don't believe your chances are great for no reason as the self-esteem enthusiasts would tell you. I see countless people wasting their life away chasing ideas just because their self esteem is way too high. Don't do that.

Taylor_OD 6y ago

You have to believe there is a chance you will succeed or you will not put in the work to do so. But you don't have to believe that you will be successful despite all odds. Elon Musk knew the chances of failure. He also knew the chance that he would succeed. The potential chance at success outweighed the potential loose from failure. That was my equation as an entrepreneur. I knew it was possible I would fail but the upside of success drew me in regardless.

Retric 6y ago
Plenty of successes where accidents, someone inherited a business, or pivoted a hobby, or whatnot. You need to put effort in, but the reason you do doesn’t need to related to seeking wealth. You don’t hear about these people as few people push much past 100m unless wealth or fame is inherently a goal.
deleted 6y ago
[deleted]

WalterBright 6y ago

Many entrepreneurs failed multiple times before finally succeeding. The quitters, of course, get nowhere.