How To Develop The Entrepreneur Mindset

August 16, 2020

What do Jeff Bezos, Mark Zuckerberg, Elon Musk, and Steve Jobs all have in common? Yes, they are all very successful in their respective careers but how exactly did they get there?  I’ll tell you right now Jeff Bezos didn’t become a billionaire and leader of the most successful online eCommerce platform by accident. Nor did Elon Musk start the most valuable automaker by accident.

These individuals share what I like to call the entrepreneur mindset; allowing them to succeed beyond normal measures. In this post, I will be teaching you how to develop such a mindset and how to implement this into your business.

What is an Entrepreneur Mindset?

Mindset is everything when it comes to being successful. It does not matter how talented you are, how many connections you have or the amount of adversity you face. If you do not have the right mindset you will not go very far; plain and simple. Every single person out there has the ability to be great and it all starts with your mindset.

A true entrepreneurial mindset acknowledges the adversity they face and believes they can overcome it. A loser’s mindset does the opposite. They give up; thinking “that’s too hard” or “I’m too tired, maybe tomorrow”.

The majority of people have a loser’s mindset, but that’s not why you’re here reading this article. You want that entrepreneurial mindset… which is already a step in the right direction. An entrepreneurial mindset however is earned, not given, and when developing one we all must start somewhere.

How to Develop The Entrepreneur Mindset

Talent

The first thing I cannot emphasize enough is do not to rely on your talent alone. We all possess some kind of talent in one form or another. As an entrepreneur, you’re more than likely developing a business in an area based around your talents. However, this can also be a trap. Successful people do not rely on their talent alone because they realize that is not enough.

Think of Michael Jordan. Yes, he was obviously extremely talented, he was also the hardest worker on the court. Successful people like Jordan work on their craft. They understand their weaknesses, and rather shy away, they attack them in order to make themselves stronger.

Grit

Second is the ability to develop grit. Grit is defined as the strength of character; having the courage and resolve to keep moving forward. Having high levels of grit will help you battle through adversity, bouncing back through the losses, and continuing your vision. This is a key difference between successful entrepreneurs and those that fail. The winners continue to get back up no matter how many times they get knocked down, and that is true grit.

In the book Grit: The Power of Passion and Perseverance, written by UPenn professor Angela Duckworth advocates that grit, not talent or luck, predicts high levels of achievement. Having the ability to face adversity and remain focused on your goal is a far greater gift than a high IQ and will further contribute to your success.

Trust

Next, you must trust your vision and trust yourself. As an entrepreneur, you started your business with a vision and you need to continue to trust that vision. The entrepreneur mindset involves trusting the process and remaining unshakeable when it comes to your vision. Now I’m not saying you shouldn’t pivot as your business needs, but you must remain consistent with your vision.

This is often easier said than done especially as an entrepreneur. A lot of the time you’ll be facing negativity and people not believing in your vision. However, the entrepreneur mindset involves mental toughness and emotional resilience to ignore outside opinions and trust yourself. Others are quick to criticize and you must learn to accept this.

Action

While all of these things will certainly help you develop the entrepreneur mindset you still have to take action. You simply cannot think your way to success. Many people often sit back and over analyze the situation not wanting to assume to many risks. This can result in becoming stagnant and risk-averse which could lead you to missing opportunities.

Failure is part of the process, learn from your mistakes, and continue to grow stronger. Be willing to take action, even potential incorrect action, and make it a habit. From action, the entrepreneur mindset is developed. Get out there and get to work.

Routine

Successful people do not sit back and let the day pass them by. When you do not have a routine to follow you are letting the world dictate your day. Instead of going into each day with a nonchalant attitude make a plan of attack.

Plan exactly how your day will go beforehand. Make a to-do list of 5 goals that you would need to accomplish before each day ended. These goals should not be “check emails” but rather geared towards more critical tasks that allow you to move your business further ahead.

Many successful entrepreneurs who truly embody the entrepreneur mindset find themselves starting their routines before the sun comes up. For example, Apple CEO Tim Cook wakes up at 3:40 am. Jeff Bezos as mentioned earlier is a great example of a true entrepreneur’s mindset. He awakes early, spends time with his family, and always sets his most important meeting of the day for 10 am. Bezos credits consistency with the ability to set himself up for success, day in and day out.

These values are what you should embody and trust in order to develop the entrepreneur mindset.

Source Infogra.me

How to Implement Your Entrepreneur Mindset Into Your Business

Now that you understand what goes into making a true entrepreneur mindset you need to implement it in your business. As an entrepreneur, you are the leader of your company or brand. Your employees will look at you as a role model. If you embody the values stated above this will transfer onto your employees and business as a whole.

Having the confidence to display these characteristics will allow your employees to truly believe in you, your vision, and the future of the company or brand. Not only will you have the entrepreneur mindset but your business will have a winning culture. This is something that cannot be bought or given but earned. However, if you follow these steps and trust the process, you can do it.

Key Takeaways

Nothing happens by accident. Greatness is a choice that encompasses the entrepreneur’s mindset. You have to ability to develop this mindset and accomplish whatever you put your mind to. Realize there will be ups and downs but with grit and trust, you will be able to power through the tough times and ride the highs. Remember to act, no one ever achieved anything by just research. Never be satisfied and stay hungry.

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2 comments on “How To Develop The Entrepreneur Mindset

  1. Hello, I enjoy reading all of your posts. I wanted to write a little comment
    to support you.

    • The Success Bug Mar 15, 2021

      Thanks for reading! We’re glad you like our content!