What is it really like to be an entrepreneur? What are the highs and lows? What does it take for great business success? How do you know if the lifestyle is right for you? In this episode, business coach Dan Sullivan and Peter Diamandis explain why some fail and some succeed on the entrepreneurial path.

Here's some of what you'll learn in this episode:

• Why it’s easier than ever before to find a problem and solve it.
• What keeps entrepreneurs in the game.
• Why entrepreneurs ask “Who?” not “How?”
• The biggest cause of failure for entrepreneurial companies.
• Why entrepreneurs need to choose their co-founders and team members wisely.
• Some of the surprises encountered when becoming an entrepreneur.
• Why only entrepreneurs love failure stories.
• Why entrepreneurs need to know what they don’t love doing.

Show Notes:

In 1804, an entrepreneur was defined as someone who takes resources from a lower level of productivity to a higher level of productivity.

Being an entrepreneur requires high risk tolerance because you could lose everything.

It’s easier to get a job and do what you’re told than it is to become an entrepreneur.

To be an entrepreneur requires passion for a subject, if not an obsession.

Entrepreneurs need self-confidence in bringing their expertise to the table.

Entrepreneurs don’t want a buffer; they want a direct relationship with the marketplace.

A great entrepreneur with a mediocre business will reinvent it into a great business, while a great business with a mediocre entrepreneur will fail.

Entrepreneurism isn’t a career choice; it’s a lifetime choice.

The only person who can tell you if your idea is good is someone who’d write a check for it.

The instinct for entrepreneurship often shows up very early.

Some people are forced into entrepreneurship because of the failure of large employers.

Most “overnight successes” happen after years of hard work.

All an entrepreneur’s money is in the aspirational future of their best clients.

All entrepreneurs have passion for freedom.

Resources:

Abundance: The Future Is Better Than You Think by Peter Diamandis

Exponential Wisdom podcast

Unique Ability®

Who Not How by Dan Sullivan and Ben Hardy