If you're daring enough to make the leap into entrepreneurship, you might as well do something big, says GoPro Founder Nick Woodman. 

"You must as an entrepreneur, if that's your position, be doing things that really move the needle," he stated.

Woodman told an audience of founders and aspiring entrepreneurs that he reaches for two sources of inspiration when he's looking for the courage to take a big risk. 

One is a quote that his mom hung on their refrigerator when he was a kid. It was from writer Anaïs Nin, who said, "Life shrinks or expands according to one's courage." 

When Woodman moved away to college, his world got a little bigger, and he finally understood what that quote meant. 

"I decided that I want to live in a big world," Woodman said. "And since then, any time I'm confronted with a challenging situation, I go for it."

The other source of inspiration is Woodman's future self. Whenever he's faced with a difficult decision, he pictures himself years down the road, he explained. He asks himself if that person would be proud of the decision he's about to make. It works every time.

"It gives me the courage to do what I know I need to do," Woodman said. "Because I know my elder self will want me to. Or I'll be disappointed if I don't."