Fear of failure is what sets apart the normal worker-bee from the entrepreneur. A difference in levels of fear results in a preternatural acceptance of or disinclination to entrepreneurial activities. When I accept the possibility of failure and embrace that I am more likely to take a risk, I can begin to act entrepreneurially.

Recently, I came across an article about Dragon’s Den, the British TV sensation where entrepreneurs are given a chance to pitch their concept. The article profiled one inventor, hairdresser Shaun Pulfrey, whose invention was brutally harangued. “And when he asked for an £85,000 investment in exchange for a 15 per cent stake in his fledgling business, he was bluntly advised that he was not worth it.” However, Pulfrey got the last laugh. His “turnover in the past ten months has been £800,000 - landing him a profit of £200,000.” His initial failure on the show didn’t slow him down, a bit. (more…)