Do you think like an entrepreneur?
One of the elements of an entrepreneurial mindset is development. Developing this mindset means thinking beyond just what you do for work, or what business you currently own. When you think like an entrepreneur, you are always thinking of your next opportunity, even beyond your current business.
An entrepreneur is more than just a business owner–it’s someone who focuses on growth and development. An entrepreneur is always looking for ways to expand and learn. That’s why we believe that “development” is a key attribute that entrepreneurs share. Development is expanding, growing, and learning. Entrepreneurs embody and experience development in many ways.
Here are 3 key ways that development leads to an entrepreneur’s success.
Developing the self
Entrepreneurs are continually developing their minds and abilities. They never miss an opportunity to increase their knowledge and hone their skills. And all entrepreneurs learn differently, so it’s important to know how you process information so you can learn effectively. If you’re visual, you may love to read. If you hate to read, you may prefer podcasts or audiobooks. If you’re a hands-on learner, you’ll need to visit places, try things, soak it all in. Also, entrepreneurs see everything as a learning experience. When they fail (because everyone does) they take the lessons from that experience into their next enterprise. They learn through education and experience.
Here are some ways you can develop yourself, and your entrepreneurial mindset:
- Read, read, read! (Start with the Kiyosaki books or check out our review of The Pumpkin Plan)
- Listen to entrepreneur podcasts.
- Look for educational opportunities: classes, seminars, programs.
- Find a mentor or role model and take him or her to lunch so you can learn from them
- Play Monopoly. Yes, you read that right. Even adults learn through play, and the game of Monopoly provides excellent lessons for entrepreneurs: understanding property development, pushing through fear as you expand a business, managing cash flow after an investment outlay. It’s chance to see how different strategies work, because everyone will play the game differently. If you’re playing to hone your investment skills, don’t play the never-ending version. You can call the game in an hour and see how luck and strategy have worked together for you.
Developing others
Although entrepreneurship can feel like a lonely road, smart entrepreneurs know they are only as good as their network. All the people in their lives (family, friends, employees, colleagues, resources) have a role in an entrepreneur’s success or failure. So they work to develop others. They build up their employees, cultivating their confidence and skills. They build relationships, connecting colleagues with good resources and referring business whenever possible. This focus on others makes them a powerful, positive force–a force to reckon with and remember.
Here are some ways you can develop others, and your entrepreneurial mindset:
- Nurture your business relationships, make sure they are mutually beneficial.
- Ask your colleagues and employees: What are your goals? How can I help you reach them?
- Find someone in an industry that intrigues you. Take him or her to lunch so you can learn about their field.
Developing opportunities
Entrepreneurs may not know everything about an industry they’re considering or a company they’re looking to acquire. However, they’re willing to do the research, ask the questions, and find out. Entrepreneurs consume information, looking for new opportunities wherever they go. They look around. They notice things. An intriguing article on a new trend. A “For Sale” sign at a once-popular restaurant. A business owner friend who needs a problem solved. The world is continually offering opportunities if you choose to see them, and an entrepreneur makes the choice to see opportunities everywhere.
Here are some ways you can develop opportunities, and your entrepreneurial mindset:
- Read. As we mentioned above, read good business books. Read articles. Read the business opportunities sections of the paper, read billboards, read the back of cereal boxes. You never know where you’ll get your next inspiration.
- Practice looking for opportunities. When you attend a business event, don’t just think about handing out your business card to people. Listen carefully to what people are talking about.
- Businesses are often answers to questions, solutions to problems. When you see a problem, think to yourself: Could the solution to this problem be a business? Could this question be answered by a business?
At Ten Key, Inc., we work with a lot of entrepreneurs, helping them manage their bookkeeping, accounting, and tax filing needs. We’re proud to be a part of their success. You, too, can develop an entrepreneurial mindset. Start by developing yourself and others, and develop opportunities.
Find your way and do it.
You are worth it!
Suggested resources:
Learn more on developing an entrepreneurial mindset
Articles:
- How To Develop An Entrepreneur Mindset by James Altucher – Medium
- How To Develop An Entrepreneurial Mindset In 7 Days Or Less by Paul Esajian – Fortune Builders
Online Courses:
Books:
- The Entrepreneur Mind: 100 Essential Beliefs, Characteristics, and Habits of Elite Entrepreneurs by Kevin D. Johnson
Videos:
- How to Cultivate an Entrepreneurial Mindset by Les Brown
- How the entrepreneurial mindset can change you Henrik Scheel at TEDxSacramento
Podcasts: