As a native New Yorker from Queens, I can certainly appreciate the tenacity and resilience of entrepreneurs like Gary Vee. We possess a unique ability to handle rejection and failure, which sets us apart from traditional employees. I will showcase the correlation between entrepreneurs and their higher threshold for rejection with this article, as well as tie in a few principles important to Bitcoin and those who believe in the revolutionary monetary system.
First off, it is crucial to understand that entrepreneurs face rejection on a regular basis. Whether it's pitching our ideas to investors, negotiating deals, or even facing criticism from the market, rejection is an inherent part of their journey. According to a study conducted by Harvard Business School, entrepreneurs experience rejection at a much higher rate than employees. This rejection can be disheartening, but it also serves as a valuable learning experience.
One of the reasons entrepreneurs have a higher threshold for rejection is our unwavering belief in our vision and ideas. We possess a deep passion for our ventures and are willing to face countless rejections to bring their dreams to fruition. This level of conviction and determination is what sets us apart from the typical employee.
Furthermore, failure is seen as a stepping stone towards success in the entrepreneurial world. Entrepreneurs like Gary Vee and myself understand that failure is not the end, but rather an opportunity to learn, adapt, and grow. We embrace failure as a valuable lesson and use it to refine their strategies and approaches. In fact, a study conducted by the University of California found that entrepreneurs who experienced failure in the past were more likely to succeed in their subsequent ventures.
It is important to note that failure is not synonymous with incompetence or lack of skill. Rather, it is a natural part of the entrepreneurial journey. Entrepreneurs like Gary Vee have experienced their fair share of failures, but they have also achieved remarkable success. Their ability to bounce back from setbacks and persevere in the face of adversity is what truly defines them.
And Gary isn’t the only one to overcome and achieve - that’s what entrepreneurs do, that's what makes the whole trip worth the ride, the ups and the downs.
At the same time, It is worth noting that individuals who possess the ability to handle rejection often exhibit similar traits when it comes to handling financial risk.Both scenarios require a certain level of resilience, adaptability, and a willingness to take calculated risks. And still to some, investing for a large part is seen as risky - no matter how many studies show that over time investing works, and risk is needed Even though we live in a somewhat civilized society, we are still animals, and rather than traditionally ‘hunting’ for our food, or the necessity to fight to the death for mating purposes or shelter (usually) we now fight and eat each other economically, and financially - that is our jungle of today, the Boardroom, or Wall Street. Yet and still, no matter how civilized: to the victor go the spoils, and we are rewarded for taking risk and that risk leading to success, even if success comes with failure and pain.
As for Investing and specifically Bitcoin, it is a highly volatile and speculative asset. Investing in Bitcoin involves a significant degree of financial risk, as its value can fluctuate dramatically. Those who are comfortable with taking financial risks, such as investing in Bitcoin, often have a higher tolerance for uncertainty and are willing to accept the potential losses that may come with it.
Moreover, individuals who can handle rejection and failure in other aspects of their lives may also be more open to exploring alternative investment opportunities like Bitcoin. They understand that success often comes with a degree of risk, and they are willing to take calculated chances to potentially achieve greater rewards.
Based on my research, there does seem to be some correlation between individuals who start their own businesses and those who believe in the principles behind Bitcoin. Allow me to share some insights:
1. Entrepreneurship and Bitcoin both require a certain level of risk-taking. Starting a new business venture comes with significant financial and operational risks. Similarly, investing in Bitcoin exposes investors to market volatility and uncertainty. Those drawn to entrepreneurship often exhibit a higher appetite for risk.
2. Both entrepreneurs and Bitcoin believers place value on independence and decentralization. Entrepreneurs seek independence by building their own companies rather than working for others. Bitcoin's decentralized and open-source nature that is not controlled by any single entity appeals to those who value independence.
3. Innovation is key to both entrepreneurship and Bitcoin. Entrepreneurs are always looking to create new products, services, and business models. Bitcoin itself was a highly innovative concept when first introduced. Those who start companies often have an interest in innovative technologies.
4. Passion and conviction are shared traits. Successful entrepreneurs are passionate about their ideas and visions. Similarly, Bitcoin believers are deeply convinced about the technology's potential and its underlying philosophy. Both groups exhibit strong beliefs that drive their actions.
So in summary, while the correlation is not definitively proven, there do seem to be overlapping characteristics between entrepreneurs and Bitcoin supporters - namely their appetites for risk, independence, innovation, and passion/conviction. These psychological factors may help explain why some individuals gravitate towards both entrepreneurship and Bitcoin.
I just wanted to point all of this out, and make the case for Bitcoin for entrepreneurs - We are in an interesting period in our economy and in America. It would appear to me that we are in the middle of a slow, and under-reported financial collapse, a bigger debacle than the 2008 and 2009 mess created. And it is for that reason, this is the biggest opportunity for people building companies and legacies - everything is an opportunity to help ourselves and those around us. Entrepreneurs possess a higher threshold for rejection due to their unwavering belief in their vision and their ability to embrace failure as a stepping stone towards success.So, let us celebrate the spirit of entrepreneurship and the valuable lessons we can learn from those who have dared to dream big and overcome the fear of rejection - it is this attitude that will help everyone as a society move forward.