What is the biggest wake-up moment for an entrepreneur? The biggest wake-up moment is when you realize your paycheck isn't guaranteed every Friday, and that your carefully made plans and timelines don't work out the way you thought they would when you apply them in the real world.

What's the difference between a solopreneur and an entrepreneur? A solopreneur is someone who runs their business on their own, by themselves. An entrepreneur is someone who has a team, even if it's just one employee, which creates a completely different dynamic and level of responsibility.

Do you have to be an extrovert to be a successful entrepreneur? While you may be an introvert in your personal life, when it comes to business, you can't be an introvert. You must be intentional about networking and connecting with people to articulate how your business solves their problems.

How do you start a business without a lot of money? You can start a business on the side, part-time, to test your skill set and get an indication of what it takes. One way is to leverage relationships, such as asking family members for help with tasks to test your ability to manage people.

Why do so many entrepreneurs fail? Many entrepreneurs fail because they get emotionally attached to their business idea and are not willing to let it go when it's not working. They feel like they are a failure as a person if their business fails, instead of separating their personal identity from the business's outcome.

Watch the full episode at https://youtu.be/tk8KE3y-D24 and read more in THE ASCENT | 022.