The entrepreneurial mindset is the invisible force that separates the successful businessperson from the rest. By that, I mean those who attempted going into business without success and those who’ve chosen the professional path – doctors, lawyers, academe, engineers, etc. These people are successful in their chosen fields of careers, but they would have floundered in the business world. The same as I, who’ve garnered successes in many of my business endeavors, would have failed at anything that is not business-related.
Not everyone is born with an entrepreneurial mindset, but anyone can learn and adopt it. It is a way of life, a set of habits, a unique way of looking at things. For those who are trying to get into business for the first time, I recommend you learn and acquire the right mindset first.
Here are some of the ways how the entrepreneurial mindset is different from the rest;
We have our own definition of success – Unlike employment, where success is measured by the rank or position you’re holding in the company or organization, an entrepreneur’s measure of success is solely dependent on his or her own. Every entrepreneur will have their own measure of success and that is also dynamic. Today, I might success based on the attendance of my forums, last year, on the value of my companies, and next year on the sale of my products. We set the bar for our success, and we don’t give a damn on other people’s opinions of it.
We embrace uncertainty – Nothing is certain in business, we are well aware of that, and we embrace that as part of our reality. While employees will put a premium on the stability of the company they’re in, entrepreneurs will always look forward to the incoming changes. The employee might cherish the reliable salary, the unchanging work routine and fixed office hours, we, the entrepreneurs will have none of it.
We accept failure as part of success – To an entrepreneur, failure is not failure per se. There are many ways we see failure – a direction to better options, a learning opportunity, eliminating bad options, or as a chance to start anew. We do not stop and wallow at a failure, instead, we decipher what went wrong, plan anew, and start again.
We are constantly learning – Entrepreneurs are constantly learning new things, discovering new opportunities, and working on better solutions. We seek self-improvement opportunities and value mentoring. We invest in ourselves in the form of endless readings, tooling, and learning new skills. A successful entrepreneur knows every job in his/her company, they’ve learned everything in their way up.
We go for opportunities, not security – While employees seek a job and income security, we go after possibilities and opportunities with no regard to certainties and outcomes. The employee will count the hours he’s worked and will expect payment for it. The entrepreneur will invest endless hours of long work without expecting immediate pay, only hoping that all his/her effort will hit a payload that is worth his/her hard work.
We see the big picture – We cannot flourish in the small confines of an office cubicle, just minding our tasks and thinking of our families at home. Entrepreneurs will always see the bigger picture. The employee won’t think twice about the company’s performance unless it affects his/her pay or if it causes any changes to his/her tasks. The entrepreneur will both see the small details and the big picture – like how a 5% price increase will affect the sales, consumer behavior, the industry, and the bottom line of his/her income statement.
We always see things positively – There is no room for negativity in business. We always see the glass half-full, appreciate the silver lining, and the lessons learned. Nobody can tell us that we cannot do or achieve, because there is simply no failure in our world. No number of closed doors or rejections will keep us from pursuing our dreams and goals. Entrepreneurs are always looking and moving forward, not stopping in our failures or achievements.
The life of an entrepreneur can be hard. We are independent and rely a lot on ourselves. We take responsibility for whatever decision we make and for its outcome. This is how we gain courage and character. But, we are also open to helping those in need, especially fellow entrepreneurs and struggling startups. We know how valuable a helping hand can be in dire need, I’ve also taken a helping hand or two, before I was able to stand on my own.