The Mind Set of the Successful Entrepreneur
What sets apart a thriving entrepreneur from people who are not effective, whether in their own small business, or in a job? Looking, the entrepreneur is a regular, everyday person exactly like everyone else – they should eat, have a roof above their head, they’ve duties, to themselves, their families, their communities.
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They have their own idiosyncrasies, anxieties and challenges too, exactly like everyone. Yet, somehow they’ve taken their energy, resources and abilities and generated something exceptional – a business which adds value to society, is profitable, and with these companies and their lifestyles are leading a life of purpose, profits and passion.
Placing a regular person near the thriving entrepreneur, at first glance, you would not be able to tell them apart. Nevertheless these two proverbial examples will do radically different things that lead them to substantially different outcomes. To find the reason, we will need to examine the main cause of their actions, that’s the mindset.
The mindset of a individual encompasses many distinct things – how he perspectives and defines this life of ours Earth, his goal, his ego, his beliefs and his or her values. It is this mindset of this individual that defines how he views or interprets what is happening around him and the way he gives them significance. It is the meaning of those events and his scenarios that will determine his psychological state and thus the decisions he makes. These decisions will consequently determine his actions, and his or her results.
It is because the outcomes of the successful entrepreneur and the average man are so distinct, which we can blame the root cause of it to be the difference in mindset. What exactly makes the mindset of the thriving entrepreneur different?
Owning Your Own Destiny
First and foremost, the successful entrepreneur doesn’t attribute the reason behind his failure or success on luck, other individuals, the government, the economy. He may or may not think in the existence of a divine being, or the one-ness of this universe, but no matter of lives by the saying ‘If it is to be, it is up to me.’
To put it differently, the first thing to be successful is that of owning your personal life and destiny. Know what is within your control, including your emotions, your actions, the people that you connect with, and your mindset. Successful people bulldoze past bad luck, barriers, naysayers, fears and dangers through thinking that whatever they envision, they can make happen with the right strategy and perseverance.
One common characteristic found in successful people is they have a strong vision for what they want to realize. By way of example, Bill Gates’ vision when he started Microsoft was that every household would have a personal computer. He believed in the positive life-changing force that computers represented and developed a strong and motivating personal vision for it. It is described that this big vision pulls the entrepreneur towards it, rather than him having to push tiresomely.
Doing Whatever It Takes
The successful entrepreneur also commits to doing whatever it takes to making his vision come true. This is the definition of commitment and truly what makes them succeed, for most people run at the first sight of blood. The moment something goes wrong, they say, “That’s it, this is not the right thing for me. I understood it would not work anyhow.” Successful entrepreneurs know that their success, or at least their next level of success, lies behind the obstacle that lies just behind them.
How many stories of successful entrepreneurs have you heard, where the entrepreneur loses his house, his car, his relationships, in order to see through his business? The lessons from these stories are not proverbial. In your journey as an entrepreneur you will be challenged, and there will be times where you will have to make very difficult choices, to either push on to do whatever it takes, or to give up. In order to succeed, you have to see things through, and that requires doing whatever it takes.
Being Decisive and Taking Action
Richard Branson famously said “I can make any decision in just 60 minutes” Being an entrepreneur, time is never on your side. Technology, consumer tastes, competition move fast and if you don’t keep up, you may face being in the wrong place at the wrong time, and failing in your venture. In order to move fast and stay ahead of the market, you will have to not only have a keen eye for trends and what is to come, but you will have to be decisive.
Most people balk at the idea of the heavy responsibility of making an important decision. The weight of peoples’ expectations – partners, customers, employees, family and friends, can be unnerving. Successful entrepreneurs take decisions in their stride, one at a time, and do what’s better, even if it is difficult.
Continuous Improvement and Humility
One key question entrepreneurs ask themselves all the time is “How can I make this better?” They constantly ask this about the world around them, the systems they interact with, the services and products they use, and most of all, their own being, even when it comes to work and life. Many people might feel that being powerful, famous and wealthy, a thriving entrepreneur would be permitted to say “Well, that’s it. I’ve learnt all I need to learn.”
Counter-intuitively, it’s really the character of humility and constant improvement that drives successful entrepreneurs to where they are. After Jack Welch, the renown ex-CEO of General Electric, was asked what he looked for at any offender, he said “The first thing I look for is candor.” Candor is the characteristic of being frank, in providing opinions, feedback, and going about do the job. This is what the successful entrepreneur looks for, people who surround him continually give honest and constructive feedback, always challenging him to make matters better.
Last but not least, the successful entrepreneur is driven by a sense of participation. They understand that they exist as part of a larger community and as a inhabitant of the planet we live in. In order to generate life better for everyone, every one of us has to play a role and donate. It’s with this understanding that successful entrepreneurs analyze the world as it is, and identify what issues exist and how they can make things better.
It’s with this drive that these entrepreneurs are able to get out of bed with electricity to perform the extraordinary things that they do. If you’re driven solely with a selfish motive of monetary reward or the picture of drinking cocktails onto a shore, then it is probable that one day, once you’re feeling challenged, exhausted or demotivated, you’d tell yourself “I don’t need this money. I don’t need these challenges. I don’t need the cocktails.” And just cease. Consider what your participation, your heritage, in this life is.
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