How to Think Like an Entrepreneur
Most people want to start their own business but have no idea how to even begin. Sometimes it seems like the thought process of starting a business is more difficult than searching for a job. Startups have great people and minds behind them and have the prospect of growing into a successful business if care is taken in implementing the business plan. Statistics indicate that 47% to 50% of businesses failing within the first 5 years of inception. This means that it takes guts to keep a business running past the initial state. But the people who take these risks have some tricks to their trade which the ordinary person does not have or does not want to have. The reason why I made the statement is that most people do not want to be entrepreneurs because they want to leave the burden of running a business to someone else. But they have no idea how advantageous it is to running your own business than to work for someone else. But this article is not going to focus on the advantages of owning your own business rather it is focused on the mindset of the entrepreneur and to help anyone who want to start their own business. Some of the tricks are that entrepreneurs:
1) Have a Burning Desire to Start a Business And Not Work For Others
Most people who own their own business have had a burning desire to start their own business for year and are never happy working for other people but themselves. They are restless until they see their dream become a reality. Most of them do not feel accomplished in life if they do not see themselves running their own business before they retire. It is not proven if these people have leadership gen in their DNA that pushes them in that direction but I am sure there is something to that effect. Their mindset is that they would rather take the risk of owning a business in which the delight than to work for someone and be paid more. To the entrepreneur money is not the driving force but the love of what they do is the motivator. They are motivated but the very thought that they own their own business and run the affairs of their company. So the most basic thing a person who wants to become an entrepreneur should do is to ask themselves if there is something they love to do and if so how can they turn that into a business or a money making machine.
2) Love to Take Care of Others:
People who start their own business love people and want to take care of others. One of the ways they do this is by providing employment to families. Business owners delight in the success of their employees and they take pride in the fact that they have been able to create something that helps other people live a successful life. Entrepreneurs are always trying to solve problems that affecting society in one way or the other. Therefore to become a successful entrepreneur, a person has to think about how to solve society’s problems in the cheapest and fastest way using the very resource available to them. Another way an entrepreneur can be successful; is by being malleable so that he or she can adapt to the changes the business would face due to the changes that would take place in the business environment over time. Business change and adapt to the business cycle and if the change is not successful a business can be run into the grown by the entrepreneur. So it is very important that an entrepreneur would study and know the business cycle of the sector in which they are investing or operating.
One of the things you will notice about your entrepreneurial friend or family member is the mindset. People who start their own businesses are so set on doing what they have planned on doing to the extent that there is nothing that can be said or done to change their mind. You can make a list of the reasons why their plan would not work and still they would not be deterred, but instead they would be motivated to pursue their dreams. Entrepreneurs are thrill seekers and they get turned on when people tell them their business idea is not going to work or would be challenging. For an entrepreneur, skepticism is the bragging rights to the fact that they have been able to build what everybody thinks would not be possible. Entrepreneurs think outside the box and they fight hard to stay out there. So to become an entrepreneur, you should have the “can do it attitude” all the time.
4) Non- procrastinators:
Another trait of an entrepreneur is the, “I do not have time attitude”. They are always busy bodies trying to find the next big idea. And when they discover and idea they have a little time to implement the idea. In the mind of people who start businesses, time is money so they do not waste time. It is hard to find a successful business person who is a procrastinator. They love what they do and they jump right at it when they find the opportunity to do so. Therefore if you plan on owning your own business, this is the time to say good bye to procrastination and take the bull by the horn.
5) Start Small And Dream big:
The last and the most important mindset of the business builder is the mind of a dreamer. Business creators dream big. They use their imagination and harness all their skills into energy which propels them into greatness. The energy to keeping them fighting or keep on dreaming and achieving great things even when all odds are against them. Owning a business can be lonely. It might feel like you are in this world alone even when surrounded by millions of employees. And the feeling of failure might loom over your head every single day. Most business owners struggle with finances and sometimes have no idea how to keep their downs open after each pay period. To be honest; it could be stressful and even heart breaking. That is why you would never find a single business owner who would tell you they are rich or successful. Most of them would tell you they would never do what they do again if they had the chance. But I am here to assure you that they would do it all over again because that is what defines them and not the challenges they face. So go out there and use your imagination and start a business turning what you loving doing into a money making machine.
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