Interest in pursuing entrepreneurship has increased over the years. It’s shocking to me how simple people try to make entrepreneurship seem. Go ahead and quit your job and become an entrepreneur…it’s so easy anyone can do it. Haha yeah right, good luck with that. It requires a lot more skill than people like to acknowledge. No wonder the majority of businesses fail within their first year

Nonetheless, people will continue to take that leap of faith and pursue the entrepreneur lifestyle. I am in no way knocking that. In fact I encourage it. But, if you’re going to do it…DO IT RIGHT. There are tons of resources you can use to learn how to become a successful entrepreneur. But, there’s one thing that none of these people will tell you. Fortunately for, I will.

The key to being a successful entrepreneur requires you to do some deep soul searching and finding yourself. It’s not the strongest, the smartest or even the richest who will succeed. It’s the person that finds their inner superstar striking the perfect balance between confidence and humbleness will skyrocket towards their goal. Lacking a tempered ego is the biggest downfall among entrepreneurs yet no one talks about this. This is why so many wannabe entrepreneurs end up on the far sides of the spectrum.

You have those that lack the confidence to step up and be a leader. Their lack of sufficient self-esteem and self-confidence inhibits many entrepreneurs from fulfilling their quest to start a company. And even those that go on to do it, can’t make a decision without second-guessing themselves. They’re always looking for someone to direct them in the right direction. They miss out on major opportunities because they are too scared to take them. Their lack of confidence keeps their business from running full steam ahead and reaching maximum potential. They will fail.

On the other end, you have the cocky entrepreneur that thinks they know it all but really, they don’t have a clue. They let their huge egos block their abilities to take in and process new information. And when people try to give them advice, they’re not smart enough to even consider it. It’s their way or the highway and 9 times out of 10 the highway is the better choice. An inflated, pathological ego will get in the way of your objectivity, skew your perspective and sabotage your efforts for success sooner or later.

Tempering the ego is the best advice I can give anyone that wants to pursue entrepreneurship. This will ultimately make or break your business as it sets the foundation for your leadership skills. A business is only as great as the person leading it. Entrepreneurship isn’t for everyone and it’s time for people to realize this. Not because it means that you shouldn’t pursue entrepreneurship because you lack certain traits. It just means that before you jump into being an entrepreneur, you should take a good look at yourself first and work on the internal flaws that need to be worked on so that you can put your best foot forward when starting your business. Understand that it is more than OK to be confident. In fact, you wouldn’t have much success without confidence. But, just know that ego is a double edge sword. Too much of anything is never a good thing. It is just as dangerous to be overconfident than under-confident.

Now take these wide words and use them wisely. After all, not too many people are sharing these kinds of hidden gems of the entrepreneur world.


Written by

Ziad K. Abdelnour, Wall Street financier, trader and author is President & CEO of Blackhawk Partners, Inc., a private family office that backs accomplished operating executives in growing their businesses both organically and through acquisitions and trades physical commodities – mostly oil derivatives – throughout the world.