The Mind Set of the Successful Entrepreneur
What sets aside a thriving entrepreneur from people that aren't effective, whether in their own little business, or in a job? Looking externally, the entrepreneur is a normal, regular person just like everyone else - they should eat, have a roof over their head, they have obligations, to themselves, their families, their communities.
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They have their own idiosyncrasies, fears and challenges also, just like everyone. Yet, somehow they have obtained their energy, resources and abilities and produced something extraordinary - a business which adds value to society, is rewarding, and with these businesses and their lifestyles are leading a life of purpose, gains and passion.
Putting a regular person near the successful entrepreneur, initially, you would not be able to tell them apart. Nevertheless both of these proverbial examples will do drastically different things that lead them to substantially different outcomes. To find the reason, we'll need to look at the root cause of their activities, that's the mindset.
The mindset of a individual encompasses many distinct matters - how he perspectives and defines that this life of ours on Earth, his goal, his ego, his beliefs and his values. It's this mindset of this individual that defines the way he views or interprets what's going on around him and how he gives them meaning. It's the meaning of those events and his scenarios that will determine his emotional state and thus the decisions he makes. These decisions will consequently determine his actions, and his or her results.
It is because the results of the successful entrepreneur and the average man are so distinct, which we can attribute the main cause of it to be the difference in mindset. What exactly makes the mindset of the successful entrepreneur distinct?
Owning Your Own Destiny
First and foremost, the successful entrepreneur does not attribute the reason for his success or failure on fortune, other individuals, the government, the market. He or she might or might not believe in the presence of a divine being, or the one-ness of this world, but no matter of lives by the saying 'If it is to be, it is up to me.'
To put it differently, the very first step to being successful is that of owning your personal life and destiny. Know what is within your control, such as your own emotions, your activities, the people who you associate with, and your attitude. Successful men and women bulldoze past bad luck, barriers, naysayers, fears and risks through believing that whatever they imagine, they could make happen with the right strategy and perseverance.
1 common characteristic found in successful people is they have a solid vision for what they want to realize. For instance, 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 ideal thing for me personally. I understood that it wouldn't work anyway." 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 seconds." 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, clients, employees, family and friends, can be unnerving. Successful entrepreneurs take decisions in their stride, one at a time, and do what is better, even if it's 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 products and services they use, and most of all, their own being, even in regards to work and life. Many people might think that being powerful, famous and wealthy, a thriving entrepreneur would be allowed to say "Well, that's it. I've learnt all I need to learn."
Counter-intuitively, it's actually the nature of humility and continuous improvement that drives successful entrepreneurs to where they are. When Jack Welch, the renown ex-CEO of General Electric, was asked what he looked for in any offender, he stated "The first thing I look for is candor." Candor is the characteristic of being frank, in providing opinions, opinions, and going about do the job. This is exactly what the successful entrepreneur looks for, individuals who surround him that continually give frank and constructive feedback, constantly challenging him to make things better.
Last but not least, the successful entrepreneur is driven by a sense of contribution. They understand that they exist as part of a bigger community and as a inhabitant of the world we reside. To be able to make life better for everybody, every one of us has to play a role and donate. It is with this understanding that successful entrepreneurs analyze the world as it is, and determine what issues exist and how they could make things better.
It's with this drive that these entrepreneurs are able to get out of bed with energy to perform the extraordinary things that they perform. If you're driven solely by a selfish reason of monetary reward or the image of drinking cocktails on a shore, then it is likely that one day, when you're feeling challenged, tired 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 simply stop. Consider what your participation, your legacy, in this life is.
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