Angel Investment Journal – Angel Investing and Entrepreneur Blog

Fear of Failure

Posted in General by angel on the May 30th, 2007

LifeHacks has a great post on the dangers of being fearful of failure. This topic has been discussed countless times and deserves discussions because the concept is so vital. Regardless of whether it relates to an Entrepreneur starting a new venture or an existing business trying new things, the fear of failure is a major thing that prevents most people from trying new things.

People say there is no better way than to learn from your mistakes. I agree that there is not much that will drive home a lesson better than a failure. However, you should also strive to learn from other’s mistakes since it is a much cheaper method. The only problem is that many times it is also less effective.

Tossing an idea out the window

Posted in General by angel on the May 11th, 2007

The GoBigNetwork had an interesting post today about bailing on at least one of your ideas. Coming up with new ideas and taking the initiative to carry them out is hugely important in whatever it is that you are doing. The post claims it is equally important to bail on certain ideas.

This could be for an idea that you feel is good, but if you actually thought about it and were able to carry it through, it would not likely result in a large rewards. I think this concept has merit, especially because you never want to get spread too thin. You should focus on the things that are the most valuable to you. If you are 100% dedicated to something compared to trying to go after 2 things at 80%, the 100% dedication will likely increase your chances for success, even though you are less diversified.

This definitely does not mean you shouldn’t go after new ideas or new concepts. Trying new ideas is of extreme importance and is required to achieve success. And even going after an idea that turns out to be bad may not necessarily be a negative because you are likely to learn something or may even find a new niche as a result. But you do need to be mindful of how you dedicate your limited resources.

Debt or Equity

Posted in Entrepreneur Advice,Funding/Investing by angel on the May 1st, 2007

VentureHacks has a good post discussing ideas to consider when you are determining whether you should raise debt or equity for your company.