Have you ever heard of the word hubris? It’s not one we use very often, but understanding the definition of hubris will make you a more considerate and dynamic entrepreneur.  

Hubris: a great or foolish amount of pride or confidence; exaggerated pride or self-confidence. (Merriam-Webster)

The process of starting up a new business venture is long, difficult and exhausting at times. Because of this, there is one quality that every single entrepreneur must have – and it’s self-confidence. Entrepreneurship operates out of the idea that you have something to offer the world. You must have a business plan that differs from others; you must see a market that is missing something you could give; or you must have something other people want.

It takes confidence to move from dreaming about these things to actually creating a business plan.

In general, hubris is believing you don’t need anyone else. It’s confidence that is so exaggerated that you are unable to foresee failure or accept it when failure inevitably comes. In place of hubris – which is not a word used to describe successful entrepreneurs – try one of these three adjectives instead.

Here are several attributes of considerate and dynamic entrepreneurs:

Confident-Sure of oneself; having no uncertainty about one’s own abilities; bold (Dictionary.com). Again, this is a delicate walk. Confidence is the energy we feel when we wake up and tackle something difficult. It is a healthy belief in self and ideas that allows one to explore that new territory.

Courageous-Possessing the quality of mind or spirit that enables a person to face difficulty, danger, pain, etc.,without fear; bravery. (Dictionary.com)It’s going to take courage to talk to investors about your business plan or to switch on the “OPEN” sign after an opening day flop. But a good entrepreneur controls his fear and steps forward to face the difficult climb.

Tenacious-Unwilling to accept defeat or stop doing something (Cambridge Dictionaries Online). Failure and rejection are a part of the climb. The question is, what will you do after? Get back up or stay down? If you’re feeling bruised from a failed venture, I understand. I have experienced failure more times than I can count. But I got back up and kept going until I met success.

In a way, these three words are steps you will take. Confidence to get started. Courage to push through when it gets scary. And tenacity to get back up when you fall.

 What word do you use to describe yourself as an entrepreneur?

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