Alexa Von Tobel, founder of online financial consultancy LearnVest, shared valuable advice for aspiring entrepreneurs. entrepreneurs: avoid overconfidence.
While confidence is essential to drive success, too much of it can lead to failure. Von Tobel pointed out that successful entrepreneurs maintain a humble posture and never settle.
see more
Thin hair? Discover 10 amazing tips to increase your density…
Words Everyone Misspels: Avoid THESE 10 Common Mistakes
Overconfidence is dangerous
In a conversation with the CNBC Make It website, Von Tobel emphasized that “no good entrepreneur is just going to believe that everything is great.”
Even when initial success knocks, remaining aware of challenges is vital to continued growth. She recalled her own journey in founding LearnVest in the aftermath of the 2008 financial crisis.
Von Tobel never let the company's promising beginnings elude her. She noted that successfully executing a business idea is “really difficult” and requires constant perseverance.
Even when LearnVest launched online and had an overwhelming response, with thousands of visitors on the first day, von Tobel maintained a cautious attitude.
She recognized that the initial enthusiasm was a positive sign, but she didn't get carried away by overconfidence. “I never went to sleep at night thinking, ‘Wow, this is going to work. I was like, 'OK, this is a sign of something that might work. That was the feeling,” she explained.
The way to success
Overconfidence is a pitfall many entrepreneurs face, especially when considering the challenging odds that newcomers face. business have to achieve sustainable success.
Von Tobel believes this overconfidence can lead to risky decisions and, ultimately, failure. Therefore, she argues that this posture should be avoided.
However, she does not preach constant fear of failure, but “healthy paranoia”. This involves striking a balance between celebrating victories and remaining humble enough to avoid serious mistakes.
As a first-time entrepreneur, Von Tobel walked a manageable path to growth of LearnVest, which was acquired by Northwestern Mutual for approximately $375 million in 2015.
Von Tobel underscores the importance of working hard, making thoughtful decisions, and staying alert to challenges, even when initial success occurs, as this is the path to real and lasting success.