|23: FAILURE Stay in the game.|
You will fail. When you do fail do not give up. You learn 10x more from a failure than you do from a success. Most first time entrepreneurs when confronted with failure retreat to the perceived safety of large corporations, and never get the chance to apply their hard-earned wisdom. Nine out of ten new businesses fail not because of bad ideas, but because of entrepreneurs taking themselves out of the game. As an entrepreneur, you need to be prepared for collateral damage. There is a high probability that before you build a successful business your credit will be dinged, you will have interesting conversations with the IRS, and you will become personally acquainted with your banker. There are rarely immaculate conceptions. You have to have the courage to stay in the game. Failure is the entrepreneurial badge of courage.