Developing an entrepreneur mindset is a massive challenge that most budding entrepreneurs face today… “How do I turn my startup into a successful business?”
In fact this challenge is exactly why many entrepreneurs fail and give up. You’ve probably heard the term “Mindset is key” before. But to just say that and stop isn’t really much help is it? You need to understand the challenge ahead before you can successfully develop an entrepreneur mindset.
The Challenge Faced By Anyone Trying To Develop An Entrepreneur Mindset
Most new entrepreneurs come from an employee background. For years and years they have been conditioned and trained to think like an employee rather than a business owner. As an employee you work for a certain number of hours per week and collect a paycheck at the end of the week/month etc. This puts you in a mindset and state of complacency.
You know that, like clockwork, your paycheck is coming and you have become accustomed to that. Unfortunately this is a scenario where you whole-sell your time and effort for a fixed cost. Don’t get me wrong, unlike others in the industry I am not here to slam the employee mindset. It is not a terrible way to live, and many enjoy that “stability”.
There is nothing wrong with taking comfort in knowing that next week/month you will have the money to pay your bills, etc. The problem occurs when you try to apply that mindset in a business environment. Successful business owners have a different mindset. They understand that it’s going to take time for their business to begin turning a profit… AND they are OK with that!
The Shift Required To Develop An Entrepreneur Mindset
First of all people who developed an entrepreneur mindset don’t panic when money doesn’t come in as expected. They are not in the business world to make a fixed amount of money in a fixed time frame. They know and expect to go through times when there is little to no money coming in and plan for it effectively. Employees, especially the ones who live paycheck to paycheck struggle to make that mindset shift. The shift from spend what you have today, the paycheck will come to solve all my financial problems anyway…
The Importance of Planning
People who successfully develop an entrepreneur mindset learn earlier on to plan effectively for the slow times in my business. I’ve personally made that mistake multiple times before learning my lesson. I’ve had to fail many times before really getting this. I know it sounds like common sense…
It’s like when you watch a horror movie and the victim runs upstairs. You go out of the theater thinking if you were in their place you would leave the house. Unfortunately as humans we don’t apply common sense when panicking. The “primal/survival” part of our mind takes over in fight-or-flight mode.
The same happens when you have bills to pay and their due date is approaching with no money coming in. Month… After Month… After Month.
Online Business As You Develop Your Mindset
The issue with an entrepreneur mindset gets further complicated when online business is involved. It practically costs close to nothing to start. In contrast to a brick-and-mortar business where you really need to plan your finances from the get-go. A franchise for example, on the low end, you could expect to spend at least around $20,000 to startup.
Makes it all the much harder to throw in the towel at the first challenge. With online the stakes are usually so low that individuals find it easier to just “cut their losses” and shut it down. Successful entrepreneurs let their businesses take their time to take off. The ones doing business online know that it will take at least 3 months just for search engines to start finding their website in the first place.
So to succeed as an entrepreneur you need to think long term, set your goals and be willing to stick with it until you reach them. If you look at the biggest names online today driving Lamborghinis and Ferraris and dig deep enough…
You’ll find that it took some of them up to ten years to reach $10,000 per month, yet today they are making millions! If you’ve been researching starting up a business you’ve probably heard them talk about their stories and how much they struggled. But if you ask them today, if it was all worth it, enduring all that stress and pain…
Their answer would be most certainly YES! Think about it, they had to struggle and deal with many difficulties, but today they are set for life! This is what everyone with an entrepreneur mindset knows, understands and practices!
So to summarize…
To succeed as an entrepreneur you need to first reframe your mindset towards an entrepreneur mindset.
Keep your goals at the center of your attention…
Know that achieving them will come at a cost…
Your time, effort, patience, perseverance, dedication and commitment. Entrepreneurs don’t give up on their goals and accept nothing short of success. If you would like to develop an entrepreneur mindset, and succeed, your first order of business is to stick with it no matter what. I know it sounds very cliche, but if it weren’t so important and true, there wouldn’t be this many people talking about it in every aspect of life.
Stay tuned for more articles on this topic…
I personally believe having the right mindset is the first step to success in anything. Having an entrepreneur mindset is what changed my success in every aspect of my life, both business and personal. I know there is plenty of fluff online, and this is exactly what I intend to steer clear from here at IEVOLVE WEALTH.
You can take this as a personal commitment from me, I don’t deal in B.S. and don’t buy into the whole you need to spend big money to make big money. Yeah you can invest in yourself, there is no harm in buying courses and learning stuff to grow your knowledge and be able to take more informed decisions. However, never ever go as far as spending all your savings, you don’t need to sell a kidney to make it online, it’s far simpler than most gurus want you to believe. Besides it’s not something that someone with an entrepreneur mindset would do.
Keep reading my articles and I will try to give you as much information as I can for absolutely free… information that I have spent 10s of 1000s to acquire. Why would I do that? We’ll get to that later, in the mean while you can read the about me page to get a better idea of who I am and why I am really doing this!
Until then, good luck my friend!
Evolve Your Wealth!