Entrepreneurship

How to develop an entrepreneur mindset

mindset of successful entrepreneurs

Developing a different mindset other than what we have is not impossible but it is not easy either. How to develop a mindset of successful entrepreneurs? Here are few ways to develop.

Enjoyment doesn’t have a definition:

mind set of successful entrepreneurs

 

We usually get advises from numerous people why don’t you enjoy. What is enjoyment? From which activity you get maximum pleasure is called enjoyment. Eventually, it differs from person to person and situation to situation. For instance, the majority of the people goes to the pub to enjoy music and have fun and greet people, few people goes just to drink liquor, some people may enjoy whole nonsense by sitting idle. Consequently, enjoyment doesn’t have any definition, it depends on mindset.

The point I would like to bring here is enjoying the work you do if you don’t enjoy change the work. It plays vital role and major impact on entrepreneurship. There are numerous people who don’t like employment but still doing the job for a pay cheque, it works because you just need the skill to do that. However, you need to have a passion for being an entrepreneur but just skill doesn’t work.

Pick something you really enjoy this is the first step to developing your mindset for entrepreneurship.

 

Ready to accept the change:

Every day is a new and every day is a business day. Eventually, every day is different from another with a new set of activities, new challenges, new milestones.

‘CHANGE’…, spell this word of six alphabets is very easy but accepting a change is very difficult and a nightmare for some people. In other words, it is difficult to move out of your comfort zone. For instance, waking up one hour early in the morning is very difficult for us, more than 70% of people snooze the alarm and wake up as usual.

However, we wake up one hour early when daylight saving is on because there is no other go, we have to accept the change. If a CHANGE applies to everyone it is normal but if you alone accept a change that will really make the difference.

Consequently, prepare your mind to welcome the CHANGE, it is another big thing every entrepreneur should adopt.

Cool…Cool…Cool (Mindset of successful entrepreneurs):

Don’t get anger. I know how difficult it is but having patience is the fuel to be a successful entrepreneur. To my knowledge, an entrepreneur is head of the family. They have to stay cool to guide the family and lead a balanced life. Any wrong decision would impact the whole family. Apparently, any decision from an entrepreneur will impact the whole system.

I would suggest staying cool before making any decision. 

Get ready for a long journey:

mind set of successful entrepreneurs

As I said in my earlier articles to complete bachelor’s degree you need to wait 16 years. Eventually, entrepreneurship demand its time, no one can escape from it. If you go for two days business trip you may carry two set of apparels, laptop, and other basic things. Apparently, you can’t have the same plan for a trip of one month. Entrepreneurship expects long journey and majority of the times lonely journey too.

Get ready to have a long journey with a bumpy road.

Also Read:  How to start a startup journey with basic business plan

Quotes are good to read but they are temporary:

Quotes inspire everyone but it is temporary. For instance, petrol can increase the fire but if there is no fire, petrol can do nothing. Consequently, if you don’t develop real entrepreneur mindset quotes are just remain as Goosebumps.

Every quote is someone else’s experience, it may be just theory for you.

Narasimha Mohan

The way you think helps the way you act:

The police usually suspect everyone involved in the case while investigation. A crime investigator starts his investigation by assuming ‘for every crime, there is a clue’. This is what preparation of your mindset for a profession. However, are we preparing enough as an entrepreneur?? Let me pick few examples to provide more clarity.

  1. Usually, airlines offer bulk cheap tickets in starting of every year.

Common consumer mindset: It is a very good deal, let me buy few tickets and plan vacation accordingly. Of course, this guy spread the news and acts as a small marketing agent to sell few more tickets.

However, what is the real strategy behind it? 10 to 20% of tickets will be sold out for $50. Consequently, airlines get minimum revenue to be in the safe zone to run. Next step, 20-40% of tickets will be sold out for the price of $80.Now the trip is for no loss. Next tickets will be $150, here is the profit margin. Last minute tickets will be again cheap to fill maximum seats.

  1. Mega sale…Mega sale…50% off on apparels. What could be the strategy behind it? Apparels which are outdated, slow moving and oversized usually be on sale.
  2. Clearance sale items are in a front row of every store to pick easily by customers.
  3. The jam will be placed beside bread to increase the sale of jam.

The common man doesn’t need to think this way because he/she is more worried about their deal. However, an entrepreneur should be able to understand what the strategy behind the sale is.

I don’t say these are only the strategies but I have picked them to make you understand easily.

Every entrepreneur should adopt above basic way of thinking to develop the mindset of successful entrepreneurs.

 

Also Read: Here is the success key for entrepreneurs

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