When faced with fear and failure, the brain is wired to quit. But it’s possible to outwit brain chemistry by activating the reward pathways and tricking yourself into persevering. Read my latest column for INC Magazine
Category Archives: EI Blog
Loved chatting in studio with Adam Carolla about my father’s struggles immigrating to America, how he made it big, the research behind taking risks, and the importance of betting on yourself. Adam ends the show with a huge rant about terrible kids’ programming. Listen at AdamCarolla.com
Entrepreneurs have to take big risks in order to succeed, but even well-known leaders are often terrified to leap. You don’t have to be a natural risk taker in order to succeed, and learning how fear works can empower you to overcome it. Fantastic story from Entrepreneur Magazine’s Nadia Goodman featuring tips from yours truly. Read more at Entrepreneur.com
A large part of your entrepreneurial success results from your ability to handle stress. By practicing controlled breathing, positive self-talk, and yoga you can train your brain to interpret stress more effectively. You can jump start this process by incorporating these foods into your day.
4. Whole-Grain Rice Or Pasta
7. Cantaloupe And Cottage Cheese
9. Fortified Breakfast Cereal
Read more about these dietary essentials at AskMen.com
What we can learn from Susie Crippen, who used visualization to quit her waitressing job, get out of debt, and build a jeans empire
For the entrepreneurial underdog, day dreaming with your eyes open can hold the key to realizing the seemingly unachieveable.
Your mind actually has a hard time distinguishing things you are doing now from actions you anticipate and memories of the past. That’s why visualization is so powerful. As you visualize yourself accomplishing a goal, your brain can’t really tell if you’re remembering something you’ve already done or planning for something you will do.
When our mind believes we’ve achieved something desirable, the brain experiences a release of dopamine. That not only motivates us, but can trigger the side of the brain that learns from repetition
In recent years, University of Pennsylvania psychologists that specialize in the study of success have pinpointed the traits most closely linked with exceptional achievement. More so than talent, IQ or even self control, they determined it’s persistent passion or the ability to stay on track for a very long period of time when the going gets tough.
In their study of underprivileged kids that beat to odds (to graduate from HS and go onto college), 300 geniuses that realize their potential, West Point cadets that survive grueling training, it’s the same trait or what they describe as Grit that leads to exceptional success. Grit is a theme that popped up over and over in my interviews with self made entrepreneurs as I conducted research for The Entrepreneurial Instinct.
I was fascinated to see the same themes pop up in a new short film about Arnold Schwarzenegger’s early years. Before he was a body building champ, actor and politician, he was a teenager in Austria with a vision that no one could quite understand. Listen to his conversation with Grantland’s Bill Simmons:
By Dan Schwabel
Her new book is called The Entrepreneurial Instinct: How Everyone Has the Innate Ability to Start a Successful Small Business. In the below interview, she talks about how anyone can be an entrepreneur, lists the top traits of all great entrepreneurs, and more.
How do you define the entrepreneurial instinct? Can anyone be an entrepreneur?
The entrepreneurial instinct is the mental toughness that is required to make something from nothing. It is the mindset that allows you to take smart risks, thrive in ambiguity and bounce back from failure. It’s the reason why the team that looks good on paper doesn’t always win and why the drop out becomes a billionaire – we hear that story over and over again.
The idea that we are born knowing how to handle the greatest challenges of life is a theme that runs throughout eastern and western cultures in the major myths, religious texts and popular stories of our time. Some people just know how to tap into instinct. Others are put into situations where they are forced to draw from it. And for the rest of us, making the most of our innate talents and physiology comes from a process of discovery and practice. Instinct is universal; it doesn’t care where you come from. Anyone with a willingness be an entrepreneur and a persistence to keep at it when the road gets rough can do it
What would you say the top 3-5 entrepreneurship traits are? Which ones do every entrepreneur have in common?
Entrepreneurs are impulsive and adaptable. In business, impulsivity translates to a bias to action. When counterbalanced with a personality that is adaptable or knows how to roll with the punches, it is a winning combination for taking risks for gain. The ability to take risky bets is actually what researchers at Cambridge University identified to be the key differentiator among entrepreneurs and people of equivalent IQ and experience that find success in the corporate world. Entrepreneurship is a career path in which evolution is the norm and failure is a given. Persistence, optimism and resourcefulness are traits that popped up over and over again in interviews with the dozens of successful entrepreneurs I interviewed for the book.
Why do you think more young people are becoming entrepreneurs despite economic setbacks?
Necessity is the mother of invention is an old adage but one that holds true today. Youth employment is at a 60 year low. Young people face a dearth of opportunities, and some of them are taking it upon themselves to pave their own way. The generation of entrepreneurs to come out of the abysmal job climate may be the silver lining of these tough economic times.
How do you train your mind to be more entrepreneurial? Is it possible?
Understanding the physiology that drives motivation can go a long way in helping anyone become a better risk-taker. For most of us, it is a knee jerk reaction to experience a fear of loss when faced with an ambiguous circumstance. Fear is 2.5 times more powerful than reward. When the brain’s loss aversion pathway is activated, our brain chemistry pretty much ensures we will not take action. Some of the basic decision making techniques we are taught like contingency planning our way around risk only further engrain the brain in loss mode.
Read more at Forbes.com