A Shark's Playbook For Success: Pro Tips From Matt Higgins

American entrepreneur and investor Matt Higgins boasts a business profile that’d leave most founders starstruck. Having co-founded the New York-headquartered RSE Ventures in 2012 with Stephen Ross (owner of the professional American football team, Miami Dolphins), Higgins has, as CEO, steered the company to now boast of a multi-billion-dollar portfolio encompassing more than 100 leading brands and unicorns across the sports, entertainment, media, consumer, and technology industries.

From Magnolia Bakery and Momofuku, to Resy and Beta Technologies, the RSE Ventures portfolio underlines Higgins’ standout ability to identify next-generation technology companies and consumer brands. Higgins is also the co-owner of VaynerMedia, the largest social-media-first agency in the world that was founded by Gary Vaynerchuk, which is yet another explainer for why Higgins was a “shark” on the American television show Shark Tank, as well as on its counterpart in the UAE, Shark Tank Dubai.

Taking his extensive business acumen into account, Inc. Arabia decided to ask Higgins to let the rest of us in on his pro tips for entrepreneurial success - here’s what he told us.

1. Make Anxiety Work For You 

Common advice tells us to extinguish anxiety at all costs. But science proves that our bodies actually operate best under an optimal level of anxiety that is conducive to peak performance – yet not crippling. A healthy dose of fear drives us to push past our comfort zones and achieve truly extraordinary feats – but be careful of anything in excess. Much like a nuclear reactor, the right amount of anxiety can unleash infinite power. But, too much can result in a catastrophic meltdown.

2. Embrace Imposter Syndrome 

Once I acknowledged that imposter syndrome was a natural part of the growth process, I found myself suddenly comfortable in new and uncomfortable territories. Imposter syndrome is just a feedback loop that tells your brain that you are venturing down previously uncharted paths. Once you do push through and reach new highs, it’s vital to share the reality of your journey without airbrushing the vulnerabilities. You never know who else out there feels like they don’t belong.

3. Just Own It 

One of the biggest mistakes founders make when sharing their pitch is failing to own their story. I grew up in extreme poverty selling flowers on street corners – a fact I used to work very hard to conceal. I’ve come to realize that my ability to overcome adversity is my superpower. When you censor details about your story out of shame, you never know if the thing you excluded is the very thing that would have propelled you to a new opportunity.

4. Face Facts Fearlessly

Studies show that 85 percent of the things we worry about don't actually materialize, and even when they do, they are much less challenging than we anticipated. The answer to every situation you encounter in your life is to face facts fearlessly. The anxiety of denial is far worse than the obstacle itself.

5. Every Crisis is An Opportunity 

Every crisis opens a portal to a parallel universe where you can extract more value than what was taken from you. While a crisis can send us into a paralyzed state of panic, I’ve found that it is in these moments where I’ve made my boldest decisions. Even where there is no immediate threat, we can apply the urgent clarity of crisis decision-making that allows you to shed the distractions and act decisively. The way to do it is to give yourself no other option but moving forward.

6. Leverage Proprietary Insights 

Many aspiring entrepreneurs I meet think they need a groundbreaking invention in order to start a business. The truth is, we all sit in our own proprietary stream of data. In our everyday lives, we glean unique insights about the world we live in. Always ask yourself, “What do I know that nobody else does?” Those insights are often at the root of the most successful businesses I see.

7. Burn The Boats 

To protect our self-esteem, our well-meaning parents condition us at a very young age that our dreams should have a ceiling. We should play it safe by always having an unsatisfactory but acceptable alternative in our back pocket. It’s counterintuitive, but because we care less, we have less to lose and don’t try as hard as we could. The energy leakage of contemplating a Plan B relieves the pain of pursuit, and that pain has the power to propel us to unimaginable heights. Science proves that just thinking about a backup plan increases the likelihood you’ll need one! You’ll never know what you’re truly capable of if you don’t raise the stakes of failure by fully committing to your goal. When evaluating your next big leap in life, process the risk at the beginning of the journey, commit to your goal, shed your plans of retreat, and go all in. If you’re struggling with committing to your full potential, read my book, Burn the Boats – and you’ll never look back again.

This article first appeared in the November issue of Inc. Arabia magazine. To read the full issue online, click here.