Start thinking like an entrepreneur!
One of the most difficult challenges that every person who makes the decision to undertake must face is to change their way of thinking and working .
Many people start their businesses and manage them under the labour paradigms that has been implanted in their heads for years, making it difficult for them to achieve the results they expect.
You cannot build a successful business with the mindset of an employee.
In this article, we will be explaining to you what those paradigms that you must tear down to undertake with success are.
Let’s get to it then, shall we?
How to start thinking like an entrepreneur
1. Stop working for hours and start working for goals and objectives
Working for hours leads us to make two big mistakes: first, it causes us to deceive ourselves believing that by being busy we are being productive. And, secondly, it makes us forget about managing our energy, a resource as important as time itself.
As an entrepreneur you must develop your ability to work with focus , that is, learn to prioritize to be able to discern between the urgent and the important, thus having the possibility of dedicating most of your time and energy to those activities that contribute most to the achievement of the goals and objectives you have set.
Undertaking is not about how many hours you work, but what results you are getting. Forget that you must work 8 hours a day from Monday to Friday and focus on setting goals and objectives that guide your actions.
2. Stop looking for comfort and safety; seek freedom and independence
If what you want is fast and safe money, probably what you need is a job. After 30 days you will receive your first payment.
Entrepreneurship is a path full of uncertainty in which nothing is certain, but everything is possible. Many people start their businesses looking for that apparent sense of comfort and security that a job offers, but the truth is that entrepreneurship is precisely about leaving our comfort zone and venturing beyond our own limits.
When you are an entrepreneur, it means that your salary no longer depends on your boss, but on yourself. At first it will be difficult, especially if you are very used to receiving your salary every month, but being an entrepreneur gives you the freedom and independence to exploit your full potential.
“When you decide to start a business, it means that you have given up a stable income and other economic and social benefits you can have when working for others … On the other hand, it means that your income is not limited by anything, you can manage your time more effectively and you won’t have to ask other people for permission. ” -Jack Ma
ALSO READ; HOW TO REGISTER YOUR BUSINESS WITH CAC
3. Start making your passions profitable
For many people, work is nothing more than “a necessary evil”, something they must do in order to survive.
An entrepreneur knows that his ability to work gives him the opportunity to impact the world with his ideas, skills, passions and talents. For an entrepreneur, work is not a duty, but the tool to fulfill his life purpose .
At this point it is important to highlight that, just as there are people who enjoy their jobs and do them with passion, there are also people who start businesses in industries that they are not passionate about and end up hating their own businesses. This is why it is important that, before leaving your job to start a business, work on developing an entrepreneurial mindset that allows you to face all the challenges that the business world imposes.
Do not undertake with the illusion that you will earn more by working less. Enter because you will have the opportunity to follow your passions, develop your projects and contribute to making this world a better place with your work.
“If you hate your work, you also hate much of the time you spend in this world.”
4. Stop looking for bosses and start looking for customers
When a person undertakes with an employee mentality, he will always end up looking for more bosses than clients. What does this mean? Traditional employment has 3 characteristics: subordination, schedule and salary. If you are going to undertake, you must be clear that the relationship with your clients should not be the same as with a boss.
There are numerous cases of people who quit their jobs and launch as freelancers looking to increase their income and have more freedom, but in the end they end up working with clients who have their time at all times and even define how much they are going to pay For your services.
Stop working for companies and for people, and start working with companies and people . It is a very important change of approach. Always make sure you have autonomy over your time and your work. Be very specific about the characteristics of your value proposition and focus, do not let the need to get a client lead you to accept working conditions that jeopardize your integrity, your health or your reputation, which are very valuable assets In this world of entrepreneurship.
5. Stop selling your time and focus on adding value
This is linked to the previous point, because, as we saw, business dynamics are very different from work dynamics and customers are indifferent to the time you spend to create and deliver your product or service, they are interested in providing value to their lives through your products and services.
Build a value proposition based on what you have to offer and what your potential customers want or need. The more value you bring to your customers, the higher the price they will be willing to pay.
6. Stop wearing out with operational work and learn to delegate
One of the most powerful tools of successful entrepreneurs is their ability to delegate … But, delegating is not simply putting other people to do your job. There are 3 important keys to successfully delegate to your business:
- Work with the best: Make sure you have trained, trustworthy people who are really committed to the mission of your business.
- Empower your team: “It makes no sense to hire smart people and then tell them what they have to do.” – Steve Jobs . If you choose the people that will make up your team well, you must provide them with all the information and tools to do their work without inconvenience or limitations, otherwise you will continue to be a barrier to the growth of your own business.
- Standardize: Create formats, standards and protocols that serve as a reference to your team when it comes to doing its work, but avoid falling into the error of “bureaucratizing” the processes in your business.
At first you may have to do everything in your business, but little by little you must identify those operational tasks that you can delegate so that you focus on the strategic part of your business. The challenge is to make your business work properly without the need for you to be physically present in it.
“One of the secrets of entrepreneurial success is not to do the work yourself, but to recognize the right person to do it.” – Andrew Carnegie
7. Stop saving to spend and start saving to invest
Something common is that small entrepreneurs spend their business profits as they get them, so they hardly expand and consolidate in the market. A successful entrepreneur knows that if he wants to see his business grow, he must invest in it.
A person with an entrepreneur’s mentality will always put the needs of his business above personal luxuries.
“Without motivation, there is no sacrifice. Without sacrifice, there is no saving. Without saving, there is no investment. Without investment, there will be no growth.”
8. Stop being reactive and start being proactive
One of the main differences between being an employee and being an entrepreneur is that, generally, the employee always has a superior who is responsible for assigning functions and tasks, in addition to making the corresponding follow-up to them; While the entrepreneur cannot wait to be told what to do, he must be proactive and self-disciplined.
Yes, it is true that even being employed we must be proactive and self-disciplined, but this quality is especially important when one starts to undertake, because no matter how much you love what you do, there will be days when you will not want to do it . There will be days when you will be lazy to go to open your business, there will be days when you will feel tired, there will be days when you will think that it is easier to find a job that gives you a fixed income, there will be days when you will not support your clients or your collaborators … and it is precisely in those days that you must remember why you started and why giving up is not an option for you.
If you need someone to give you orders to take action, then you will be better at a job. In business you must be your own motivation.
9. Stop looking guilty, assume your responsibility and focus on finding solutions
In a traditional job, our roles and responsibilities reach a certain point. If any problem or unforeseen happens, the responsible person is generally sought. On the other hand, when you are an entrepreneur, everything that happens is your responsibility, no matter whom you have delegated a certain work to.
It is common to find entrepreneurs who rely on their collaborators to excuse themselves with their customers when they have not been able to correctly deliver an order. They say things like: “It was my designer’s mistake” , “The person in charge was resting and that’s why I couldn’t have his order on time” , “It was our accountant’s fault”, etc. Is that the attitude of a successful entrepreneur?
When you breach a customer, your entire brand and your entire company are affected. It is your responsibility to have the right personnel and the resources necessary to fulfill your value proposition.
Of course, problems and unforeseen events may occur, but it is better for a client to see a company committed and taking responsibility, than to listen to an inefficient businessman blaming his own collaborators for what happened.
10. Stop fearing changes and start managing them
Work dynamics sometimes becomes routine, especially for those who hold operational positions, which can lead us to become reluctant to change. Surely you will have seen people complaining within a company because they have to use new software, change their workplace or perform some process differently.
Ideally, all people within an organization are open to change and are constantly in a process of reinvention and evolution, but, no doubt, the leaders of the organization should be the first to adopt this philosophy of life , because probably You’ve also heard businessmen say things like: “ Things have always been done that way and they worked , ” “I don’t trust new systems,” etc.
As leader of your venture you should always be one step ahead, willing to challenge the status quo and taking advantage of the opportunities that emanate from the changes.
“When the pace of changes within the company is overcome by the pace of changes outside, the end is near.” – Jack Welch
11. Focus on the value of things, not on their price
Just because something is cheap does not mean it is worth the cost.
In the world of money, business and investments, you must learn to identify the value of things. Getting carried away by a “Low Price” is an emotional decision that can make you lose a lot of money. Successful entrepreneurs buy value.
Some few years ago, I opened a fast food business but unfortunately, this business didn’t couldn’t stand the test of time. The business failed for various reasons. Top of the reasons for the failure was because we took a place because its price was very low, but the location was not very strategic, so the flow of customers was very little.
Lesson learned: just because something is cheap does not mean it is worth the cost.
12. Stop focusing on resources and start focusing on opportunities
The reason why most people say things like: “That can’t be done here“, “I would if I had money”, “If I were …”, “If I had …”, etc. . It is because they are focusing on resources, not opportunities.
An entrepreneur is able to see the tree, even when he has only the seed held in his hand.
Tips for developing a business mindset
If you are ready to take the next step and start working on your business mentality , here are some practical tips that will help you achieve it:
- Surround yourself with enterprising people: They say we are the average of the 5 people we spend the most time with, so make sure you are surrounded by people who inspire and challenge you.
- Read: Reading is like having conversations with people from whom you can learn a lot of interesting things. Some specially recommended books are The 4-hour work week” by Tim Ferris; “Rich Dad, Poor Dad” by Robert Kiyosaki; “Think and grow rich” by Napoleon Hill; and “Passion for Entrepreneurship” by Andy Freire. They are very good readings to break paradigms and change the way you think and work. If you know another interesting book about the subject, do not hesitate to recommend it in the comment section.
- Go out to sell: An excellent way to develop various skills of great importance for entrepreneurs is to start selling. If you have your own product, great. If you do not have it, look for the product of another person or company and make an agreement to receive a commission for each sale. The better your sales skill, the more skilled you will be for business.
- Take action: The best entrepreneurship course you can do is take your idea and start executing it. No matter how many books you read or how many courses you take, if you don’t take action, you are wasting valuable time. For more advice they give you, there are lessons that you will only learn from falls and blows.
Even if you start a business, there may still be paradigms in your head that prevent you from becoming the successful entrepreneur you want to be. It is important that you work to develop a business mentality that allows you to successfully face the challenges that the business world imposes.
On the other hand, there is nothing wrong with having a job, the bad thing is to depend on it and develop a conformism mentality that prevents us from reinventing and constantly growing. Remember: Look for customers, not bosses. Even as an employee you can build an entrepreneurial mindset and add more value to the companies you work with.
What other key do you consider important to start thinking as an entrepreneur? What other interesting conclusion do you draw from this article? Leave your comments and contributions on the subject.
Please do share this article with your friends and families.
If you found this post insightful, then you should check out these important characteristics an entrepreneur should possess to succeed in a business.