“Mindset” is everything. The mind defines how we perceive and experience the world around us.
The entrepreneurial mindset is special and unique in that it orientates human conduct towards entrepreneurial activities and outcomes.
This mindset in the right person and in the right dose can change the world. That’s why people revere the entrepreneurial spirit.
We celebrate innovators like Bill Gates, Jeff Bezos(Amazon founder) and Mark Zuckerberg(Facebook founder and CEO), who have, as Steve Jobs said, “put a dent in the universe.”
The entrepreneurial mindset refers to a specific state of mind which orientates human conduct towards entrepreneurial activities and outcomes.
The entrepreneurial mindset includes traits such as resilience and creativity and social-emotional skills such as self-confidence and leadership.
It is a way of thinking, a way of being, it is focused at its core on solving problems and creating exchangeable value what ever it takes.
The mindset of the entrepreneur is first and foremost stubbornly determined. It is focused on the “vision” and pulls every resources available to bring about a positive outcome.
Fundamentally, entrepreneurs believe that change is possible and the idea that core qualities can be developed. The entrepreneurial mindset is unique in that it must be creative, communicative, and highly motivated to succeed, yet open to risk and failure.
When starting SpaceX I thought the odds of success were less than 10%, and I just accepted that I would probably just lose everything. But that maybe we would make some progress. If we could just move the ball forward, even if we died some other company could pick up the baton and keep moving it forward. So that would still do some good.”
— Elon Musk
Sustaining the entrepreneurial mindset in the face of overwhelming odds will require the constitution to manage the following:
#1. Holding steadfast to the Vision
Successful entrepreneurs understand how to preserve their vision. It is the energy that drives the entrepreneur, it makes them dare : to explore, to challenge, to insist, to keep pushing, to have the determination to succeed. However, success of a venture is also about being able to instrument the vision, formulate it into something tangible, and then share it as well.
Keeping the mind steadfast on the vision helps the entrepreneur in the ups and downs of a venture, the vision also serves to funnels the entrepreneurs passion.
The vision allows the entrepreneur to attract others towards his or her own idea, to create, innovate and solve problem in unusual ways, and to even create greatness, which is why vision is the driver of entrepreneurship.
#2. Embrace Challenges
To successfully navigate the entrepreneurial landscape is to embrace challenges. Tackling the many challenges that running a business presents requires the growth mindset.
A growth mindset is the belief that intelligence can be developed, people with a growth mindset understand they can get smarter through hard work, the use of effective strategies, and help from others when needed.
The nature of entrepreneurship demands the readiness to face ongoing challenges on a daily basis, which could range from financing, hiring, decision-fatigue, facing the unknown, all the way to loneliness.
“Being an entrepreneur is like eating glass and staring into the abyss of death.” – Elon Musk
If you read a lot about the entrepreneurial mindset, there is a common thread: the idea of approaching problems from all sides. Simply put, the entrepreneurial mindset is about thinking differently than the rest.
#3. Self Improvement
Successful entrepreneurs are committed to becoming a better version of themselves. This means nourishing the brain by reading on a daily basis. Learning new skills. Devouring books about successful entrepreneurs. The more you read books like these, the more you’ll think like them as well.
#4. Always Be In Motion: Provide Value
Much of the entrepreneurial mindset is to simply do. If entrepreneurs are not thinking about their vision then they are actually putting their vision into motion.
#5. Accountability
The entrepreneurial mindset comes from taking responsibility for your actions and outcomes.
You need to internalize and accept that: Everything that happens at work – YOU are responsible for.
Everything that happens to your business – YOU are responsible for.
Whether you succeed or fail, it is YOUR responsibility.
From the moment you decide to become an entrepreneur you must accept responsibility for everything in your life and hold yourself accountable to it.
#6. Resilience
As an entrepreneur, you will need to learn to deal with making mistakes and failing. They are inevitable and a part of your growth.
If every misstep plummets you into self-doubt, you have to change the way you look at being wrong.
“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.” Jeff Bezos
This mindset shift takes resilience and is foundational to the entrepreneurial mindset.
“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance. It is so hard. You put so much of your life into this thing. There are such rough moments in time that I think most people give up. I don’t blame them. It’s really tough and it consumes your life.” – Steve Jobs
Success rarely happens in a straight line. Taking wrong turns and making mistakes is something that happens to everyone.
The entrepreneurial journey requires a steady and focused mind, one that is resilient, stubborn and refuses to give up in the face of overwhelming odds.
The entrepreneur mindset mindset isn’t meant to be overly rational, it is not risk averse or afraid to think and dream big. It understands that to create and innovate frequently come with a high risk of failure, but it presses on non the less.
Please leave your comments below, let me know your thoughts. I will like to hear from you.
Robert Ikwue is an entrepreneur, founder and CEO @ The Quintrix Group.
