7 Fearless Habits of Successful Entrepreneurs

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If you were to ask most what the definition of an entrepreneur was the majority would probably say fearless business owner. The actual definition of an entrepreneur is:

“A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.”

But what is financial risk? Financial risk is taking action that has two possible outcomes:

  1. Good – Some probability of losing a lot of money.
  2. Bad – Some probability of making a lot of money.

When you take financial risk, you are exposing yourself to either a good or bad economic outcome.

Most individuals are risk averse. They do everything possible to avoid taking risks, preferring the old, worn path taken by so many. They pursue careers that avoid risk at all costs.

Why? Fear. When it comes to risk, the vast majority focus only on the possibility of a bad outcome. They only see the pitfalls, failure and the negativity of taking a risk. In fact, they view those who take risks as reckless and irresponsible. This fear grabs them with both arms and prevents them from taking any action at all that involves risk.

Successful entrepreneurs, however, are able to overcome fear. They are like Harry Houdini, able to break free from the grip of fear and take action on their dreams and goals. Are successful entrepreneurs simply more courageous than most people?

Not really. They have certain Fearless Habits that enable them to overcome the fear of risk:

  1. They Prepare Before They Leap – Successful entrepreneurs study and practice relentlessly and become experts before they take a leap. When they do take risk, it is typically an educated risk – a risk they studied and prepared themselves for over many years. Educated risk means you understand what can go wrong. There is no uncertainty about all possible outcomes.
  2. They Expect and Prepare for Failure – Fear loses its grip when you pursue anything expecting mistakes and failure. Because successful entrepreneurs expect and prepare for failure, if the worst does happen, they are able to navigate around it because they prepared for it. They have a plan for the worst case scenario.
  3. They Know How to Pivot – Successful entrepreneurs are constantly seeking feedback. Feedback gives you the information you need to allow you to pivot and adjust. Pivoting means you are not locked into a specific way of doing things.
  4. They Focus on Their Vision – They have a clear picture of the outcome they desire. This means they are not easily distracted when something goes wrong. Their vision allows them to stay focused and persist.
  5. They Surround Themselves With Experts – In any project, initiative or pursuit, things will go wrong. Successful entrepreneurs anticipate that things will go wrong so they surround themselves with individuals who have done what they are trying to do; who are experts at what they are trying to do. When something does go wrong, they lean on their experts to help them navigate the pitfalls.
  6. They are Eternal Optimists – Successful entrepreneurs live in a world of possibilities, where optimism rules their behavior. This habit of being positive every day clears away the fog of fear and negativity.
  7. They Persistently Take Action – Every day, successful entrepreneurs take action. Fear is at its greatest just prior to taking action, so forging the habit of persistently taking action will lessen or even remove fear.


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Thomas C. Corley About Thomas C. Corley

Tom Corley understands the difference between being rich and poor: at age nine, his family went from being multi-millionaires to broke in just one night, due to a catastrophic fire that destroyed his Dad's thriving business. For fourteen years they struggled with poverty. There were eleven in Tom's family, and they lived in constant fear of losing their home.

Driven by the desire to unlock the secrets to success and failure, Tom spent five years studying the daily activities of 233 rich people and 128 poor people. He discovered there was an immense difference between the habits of the rich and the poor. During his research he identified over 300 daily activities that separated the “haves” from the “have nots.” Tom decided to write a book to share what he learned. That book, Rich Habits: The Daily Success Habits of Wealthy Individuals (1st Edition), went on to become an Amazon Bestseller in the United States forty times over a three year period. To give you some perspective, in order to be a true Amazon Bestseller in the United States, where you actually receive a specific Bestseller designation from Amazon, you need to be in the top 100 of all books sold by Amazon in the United States in a given day. Rich Habits did that for nearly thirty straight days, rising as high as #7, eclipsing such Bestselling authors such as Stephen Covey, Robert Kiyosaki and J.K. Rowlings. Imagine that - an unknown, first-time, self-published author selling more books than J.K. Rowlings!

Tom now travels the world, sharing his Rich Habits and motivating audiences at industry conferences, corporate events, universities, multi-level marketing group events, and global sales organizations’ presentations and finance conferences. He has even spoken on the same stage with famous entrepreneurs and personal development experts, such as Sir Richard Branson, Robin Sharma, Dr. Daniel Amen, and many others.

Tom has shared his insights on various national and international network, cable, and Internet television programs such as CBS Evening News, NBC News, Yahoo Financially Fit, Money.com, India TV, News.com Australia, and a host of others. He has been interviewed on many prestigious nationally syndicated radio shows, including the Dave Ramsey Show, Marketplace Money, and WABC.

Tom has been featured in numerous print magazines—such as Money magazine, Inc. Magazine, SUCCESS Magazine, Entrepreneur magazine, Fast Company magazine, More magazine, Epoca Magazine (Brazil’s largest weekly) and Kiplinger’s Personal Finance magazine—and various online publications, including USA Today, CNN, MSN Money, SUCCESS.com, Inc.com, and the Huffington Post. Tom is a frequent contributor to Business Insider, Credit.com, Bankrate.com and a few other media outlets.

National publicity has garnered international media attention for Tom and his Rich Habits research spanning 23 countries. Broadcast media, online publications, and television throughout Asia, the South Pacific, Europe, the United Kingdom, and Central and South America have shared his powerful message.

In an effort to help parents, grandparents, teachers and adults become success mentors to the younger generation, Tom released his second book, Rich Kids: How to Raise Our Children to be Happy and Successful in Life in 2014. This book was the self-help category winner of the 2015 New York Book Festival and Runner-up in the prestigious 2015 Writer’s Digest Self-Published Book Awards Contest. In 2016 Tom released his third book, Change Your Habits, Change Your Life. This book provides the latest science on habit change as well as more of Tom's unique research on the specific habits that helped transform 177 ordinary individuals into self-made millionaires.

Besides being an author, Tom is also a CPA, CFP, and hold a master’s degree in taxation. As president of Cerefice and Company, CPAs, Tom heads one of the premier financial firms in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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