Entrepreneurship sounds so cool, many people want to be called entrepreneurs. But is entrepreneurship for everyone? Should you quit your 9-5 and go start your own business? To be successful as an entrepreneur, you have to make money (enough money to ensure you are profitable). To do this, you need to have the right mindset and processes in place. What is an entrepreneurial mindset and how do you know if you have it?
Do You Have an Entrepreneurial Mindset?
- Belief That You Will Succeed: Do you believe you’ll be a successful entrepreneur? As a man thinks in his heart, so he is. This is the first and most important entrepreneurial mindset that everything else flows from. This is the biggest determining factor in whether you become successful as an entrepreneur. This means that you create your future.
- Commitment to Succeeding: Belief without requisite action is pointless. It is one thing to believe you will succeed, it is another thing to do the work towards achieving that success and be committed to succeeding no matter what. This means you are committed to taking massive action until you get the result you want. All the failures and obstacles that come up don’t stop you. You are resilient towards your goal.
- An Obsession with Marketing + Business: A good entrepreneur is obsessed with business and marketing as this is how you actually make money. As an entrepreneur, you make money in your business by providing something in the marketplace that someone else buys. There is a product (or service) to market match. Since there is so much competition out there, to be successful in business, you need to get your marketing right.
- Thinking You’re Worthy of Making, Having, And Charging Money: The critical entrepreneurial mindset is that you have your money mindset in check. If your money mindset is a mess, you’re going to have a very hard time being a successful entrepreneur. If you don’t think you’re worthy of receiving a lot of money, you won’t be able to charge what you are worth and consequently won’t make a lot of money.
- Measure Based On Results: This means that at every point in the business, you’re keeping track of key performance indicators (KPIs). These will be different for everyone, but successful entrepreneurs are clear about what they’re measuring and where they’re going. Revenue, expenses, and net profit are some of the most important results to measure on a regular basis.
- Invest in Yourself: The final entrepreneurial mindset is investing in yourself. Successful entrepreneurs spend money on self-investment opportunities that will provide a profitable return, such as courses, coaching, books, etc. Successful entrepreneurs find people who are doing what they want to be doing and they learn from them.