Fail Coach tip: Mistakes of successful entrepreneurs


What are the common mistakes that successful entrepreneurs make after they have their first success? Speaking from a personal experience (also as a Fail Coach), I believe that, though it contributes enormously to your lifestyle, you should never get lost in success. Often enough, this is not the actual goal but your own well-being while you are being successful. 

Is sky really the limit?

One of my particular mistakes was that I got overconfident. After finding myself ahead of the game, I started believing “only sky is the limit”. Don’t misunderstand me. I do acknowledge that confidence is a very positive attitude towards life. However, there is a big difference between being self-confident and thinking that you are indeed invincible. Of course only sky is the limit but I believe it is better to use confidence as a motivation rather than as armor against the world.

I’m sure there’s a Greek mythology story about this… Yes, of course there is! Take Icarus’s story for example. He was given a pair of wings and there he goes flying around like he can conquer the world without minding the warnings to not get too close to the sun. The heat melts the wax of his wings down and so he falls into the ocean. The End.

For my part, after finding myself in a favorable and successful position, I started becoming greedy which obviously never leads to anything good, as you could see with what happened to Icarus. Greediness comes with wanting the things that you don’t have (or that you have yet to acquire). On the other hand, enjoying all those which you do have is what brings gratitude and a sense of happiness.

Fail Coach in real life or how everything crashed

I started then spending more than what I had and acting as if I was already at the next step of the road. I figured that “I would get there in no time”… And then everything crashed!

Of course it’s always good to plan ahead and visualize the success you desire but it’s even more important to realize where you are at the moment and appreciate it. The Plan is what both helps you get your goals and then, as you start working your way to them, get rid of the worry. There is no need to try eating the whole thing in one mouthful. The road will still be there after you take the current step. At some point you have to just trust yourself enough to let things work out the way they are supposed to and be prepared for whatever may come.

Did you enjoy this article about Business failure? Read more about it in our category “Business Failure“.

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