The Entrepreneurial Mindset -
Some experts think of entrepreneurs as people who are willing to take risks that other people are not. Others define them as people who start and build successful businesses. Regardless of how you define an "entrepreneur," one thing is certain: becoming a successful entrepreneur isn't easy.
So, how does one person successfully take advantage of an opportunity, while another, equally knowledgeable person does not? Do entrepreneurs have a different genetic makeup? Or do they operate from a different vantage point, that somehow directs their decisions for them?
Though many researchers have studied the subject, there are no definitive answers. What we do know is that successful entrepreneurs/business owners seem to have certain traits in common.
· Personal characteristics.
· Interpersonal skills.
· Critical and creative thinking skills.
· Practical skills.
Most Importantly they ALL have an Entrepreneurial Mindset
What is a Entrepreneurial Mindset and do you have one?
A mindset is a fixed set of ideas that we all maintain about a certain subject. It determines how we will react to certain situations. For example, "I'm no good at languages so there's no point trying to learn French." With this attitude and state of mind, even if you were to try to learn French, how successful do you think you would be? The answer for most of us would be, very unsuccessful. We would have talked ourselves out of success before we’d even tried. And yet, many people successfully learn a new language. Why is that?
Let’s look at these 10 qualities of successful entrepreneurs:
1. Positive Thinking: No matter what happens, an entrepreneur can frame it in a positive light.
2. Learn from Failure and Move On: Entrepreneurs generally don't achieve success on the first try. But they try and try again. They're resilient and persistent.
3. Know the Moment to Give Up: Entrepreneurs also know when to stop pushing for something and wasting time and energy on a project that just isn’t working.
4. Delegate to Others: They don't try to do everything themselves but reach out for help and designate tasks to those who are best equipped to do them.
5. Love Learning: Entrepreneurs have a hunger for knowledge and new ways of thinking and embrace change.
6. Take Risks: They are risk-takers, but not of random risks taken for no reason at all. The risks are calculated and considered.
7. Follow-Through: Entrepreneurs are always on the lookout for new opportunities, even when there is not necessarily an immediate result.
8. Remain Flexible: They are open to continuous change and improvement, and they are ready to adapt or change plans at a moment’s notice.
9. Set Goals: People with the entrepreneurial mindset set goals as a way to focus on the future and motivate themselves forward.
10. Keep Good Company: Entrepreneurs surround themselves with other entrepreneurs, positive influencers, and like-minded individuals.
As you went through these qualities of the entrepreneurial mindset, what did you think? Did you feel that some (or many) of them apply to you? Can you see areas where you could change or improve?
Don’t let your mindset interfere with your success.
If you believe you have nothing valuable to offer to anyone, then your negative mindset is going to prevent you from making a success of your business. What attitudes or beliefs do you have that could interfere with your success
Change Your Mindset and You Will Change Your Life
The good news is that your current mindset is not a blueprint for life. By taking a close look at your beliefs and asking important questions, you can change your mindset and set yourself up for success.
All successful people acknowledge the importance of having the right mindset in helping them succeed. Great athletes don't just have physical ability and training - they have the mindset to win. Renowned musicians don't just have talent and perfect pitch - they have the mindset to share their gift with the world. Pick up any book that tells you how so-and-so made two million dollars in their first year, follow their 'simple formula for success' and their strategies, and will you become successful? You might become successful, but many will not because they don't have the mindset of success.
Develop Your Entrepreneurial Mindset
Getting out there and acting like an entrepreneur will give you the challenges and learning opportunities that will transform your mindset.
What are some of the activities that you could use to cultivate an entrepreneurial mindset?
For example, you could:
Connect with other entrepreneurs who have the mindset you want to nurture and find out how they’ve succeeded.
Attend a conference or networking event to learn from like-minded people.
Read. Read. Read.
Per an article in HUFFPOST by Andrew Merle
, when Warren Buffett was once asked about the key to success, he pointed to a stack of nearby books and said, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”
And he’s not alone. Here are just a few top business leaders and entrepreneurs who make reading a major part of their daily lifestyle:
· Mark Cuban reads more than 3 hours every day
· Mark Zuckerberg resolved to read a book every 2 weeks throughout 2015
What are some new skills you can learn and where can you learn them? Is there a particular risk or challenge your intuition is telling you to take?
Write down 3 actions you can take to help you to develop different aspects of the entrepreneurial mindset.
Do you want to learn more about starting your own business and becoming your own boss? Check out this amazing online “Start Your Own Business” course designed for all levels.
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