When you set out to build an enterprise, building an entrepreneurial mindset is the foundation on which all success lies.
Entrepreneurship has been in the limelight for a long time now, with most people thinking of themselves as entrepreneurs. The rapid evolution of the World Wide Web has also justified this thought process, as the online world continues to create at a far higher rate new entrepreneurs as opposed to its offline counterpart, which is traditional.
“Being an entrepreneur is a mindset. You have to see things as opportunities all the time.” Soledad O’Brien
As a matter of fact, the rich list of the world has seen technology-enabled entrepreneurs not only make the list but also rise astronomically to the very top.
Entrepreneurial education, on the other hand, is now a major course of studies in schools and colleges globally in light of the high failure rate of enterprises and dismal performance of many others established by entrepreneurs.
What is an entrepreneurial mindset?
Entrepreneurial mindset: a way of thinking that enables you to overcome challenges, be decisive, and accept responsibility for your outcomes. It is a constant need to improve your skills, learn from your mistakes, and take continuous action on your ideas.
The manner in which we see ourselves and our general surroundings affects our capacity to dream and accomplish. With rapid technological advancement, where necessities and opportunities are developing quicker and more smoothly than any time in recent memory, the mindset of our youths should be equipped so it prepares them to perceive opportunity, step up and advance despite challenges.
Are you thinking of becoming an entrepreneur? Successful entrepreneurs are not born, but made. This is a common myth you must quickly dispel so you can step in with confidence into the world of entrepreneurship.
Self-doubt in ourselves, our surroundings, and our abilities is often the killer of our entrepreneurial mindset more than any other thing. Not failure, the economy or bad ideas.
All humans are unique. However, some definite qualities are traceable in every successful entrepreneur – ways they tend to think and act. Successful entrepreneurs think and act in similar ways, no matter our individual differences or country of origin. They possess the entrepreneurial mindset.
Here are the five ways to build your entrepreneurial mindset:
1. Be Decisive
Decisive people are good at decision-making. They do not waste time making up their mind and stick with their decision.
Your success as an entrepreneur will depend on your capacity to look at a problem or situation, make timely use of all available data, and make a confident decision to progress. This ability determines your future success.
We can master decisiveness with small decisions in the things we do daily. Gradually, we find ourselves using it in bigger ways.
2. Display Self-confidence
Confidence implies feeling sure of yourself and your abilities. It has absolutely nothing to do with arrogance. Confident people are realistic and secure. They possess quiet inner knowledge that they’re capable and do not feel superior to others.
You learn to act with confidence, then eventually you’ll feel confident. The more you practice, the better you will become at anything.
3. Hold yourself accountable
Success as an entrepreneur requires accountability. The buck stops at your table. You are responsible for all that happens at work, to your business and must accept responsibility. Hold yourself accountable and fix problems, as all that matters is your actions towards attaining success.
4. Have a strong spirit.
The success journey hardly travels a straight path. As an entrepreneur, you need to be resilient, learning to handle mistakes positively. They are part of the journey and are evidence of your growth. Keep pushing ahead no matter the setbacks.
5. Maintain your humility
Understanding humility is key to succeeding as an entrepreneur. The dictionary definition of humility is “having a modest opinion or estimate of one’s own importance or rank.”… Entrepreneurs who are arrogant tend to miss out on so many opportunities. An arrogant mindset prevents people from being open to others’ ideas and input which could help achieve success.
Humility also attracts coaches and mentors in your field of entrepreneurship, because whatever you are trying to achieve, someone has already done the same.
Being an entrepreneur means you want to achieve something bigger, more meaningful, and all yours. For the attainment of such a desire, you need to be willing to learn from others and nourish a growing mindset.
Growth is progress and this comes with learning and the humility to accept the guidance of coaches and mentors.
There are no obstacles you can not conquer. However, apart from self-doubt, there is a need to be on guard against the following misconceptions around entrepreneurship and starting a business:
Entrepreneurs are born hustlers
Entrepreneurs need a unique (and revolutionary) idea to be successful.
Starting an online business requires technical skills which you may not have.
Full-time effort is required to succeed.
A word of caution: mastering your entrepreneurial mindset is difficult, not an easy task. Nobody said it was.
The most critical thing is to start with time-tested methods.
An entrepreneur ‘dies’ so many times before he succeeds in his enterprise.