Explain a situation where you have failed. Explain how you dealt with the failure in detail.

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Reflecting on your answer in question number one, based on our instructional materials, do you handle failure in the way that is suggested for entrepreneurs $($switching between both loss orientation and restoration orientation$)?$ Explain your answer.

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The book states some statistics on the number of businesses that fail each year. There are many sources for this type of information and numbers can vary from source to source. Do your research and find a current number. Does this differ from the numbers found in our class text? What information is missing from your source? In other words, is this number telling us the whole story?

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The text states that business failure looks different for each business. Businesses close their doors for many reasons and typically using the word $$failure$$ simply means they closed their doors. Share three reasons a business may close its doors. What does this tell us about the fear of failure? You may need to reflect on this for a while and do some additional research.

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Knowing that new businesses do fail $($based on the sources from our class text and your research$),$ what would you tell a future entrepreneur who wants to start their own business? Describe $2-3$ strategies that can be used to overcome this fear. You may need to reflect on this for a while and do some additional research.

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Of the four different risks identified in our instructional materials, which one are you most fearful of as an entrepreneur or intrapreneur? How do you plan to deal with it$?$

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Of the different causes of stress noted in the class text, we can break them down to be:

a$)$ Loneliness $$ no time to confide with those we care about

b$)$ Immersion $$ we get $$tunnel vision$$ on one thing and don$$t do much else

c$)$ People $$ we have issues trusting others, getting along with others, or accepting how people do things differently.

d$)$ Need to Achieve $$ you push yourself to accomplish too much and are rarely satisfied with your work.

Which of these causes the most stress for you? Why? What can you do to overcome them?

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One of the suggestions on how to overcome entrepreneurial stress is to find satisfaction outside of work. What are some things that you like to do$,$ or would like to do$,$ to help you find satisfaction outside of work?

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Share two key takeaways after studying these common fears and barriers to entrepreneurship $($as outlined in chapter $5$ of our class text$).$

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