Doubt, caution

First off, I admit to having my post titles influenced by catchy movie ones ;)

It's pretty much established that an entrepreneur has to be passionately committed to his/her idea, and believe in it - s/he needs to be a bouncing poster child for optimism. This kind of gung-ho dedication is a must-have to lead the troops and stick it through the ups and downs (the many downs) of a startup. All the entrepreneur self-help books will tell you so.

But, there are times, usually in the wee hours of the morning, when a person may be visited by the dreaded 'doubt'. What if I never get funding? What if my idea turns out to be a stinker? What if I don't have what it takes to get this done? Conventional wisdom says you shouldn't be thinking such things, but isn't that just sticking your head in the sand and refusing to face reality?

Conventional wisdom is spot on in this case. An entrepreneur has no use for doubt, but can benefit from a healthy dose of caution. 'What if I don't get funding?' is better replaced by 'What are my options for boot-strapping?'. 'I should develop a plan to validate and refine the concept' is a much more useful approach than dire imaginings of your idea flopping like a goldfish fallen on the floor. Figuring what's required to get the job done and who can complement your skills is vastly more productive than wallowing in despair over your perceived shortcomings, be it lack of experience or a lack of a high net worth network.

The entrepreneur has to be both an optimist and a pragmatist, but also swiftly squelch any signs of doubt. Let others audition for the role of doubting Thomas, they don't have much to lose.