An innovative idea is not all that is required to become an entrepreneur. Dozens of new companies are founded every month but only a small percentage of them taste success. The difference lies in having an entrepreneurial mindset.
It’s all about looking at challenges from a different point of view, being able to find the root issue, framing viable solutions, adapting to changing circumstances and staying focused on a goal no matter how uphill the road may seem. Not everyone thinks this way naturally. But, with a few tips and tricks, you can train your mind to think like an entrepreneur.
5 tips to rewire your mindset to think like an entrepreneur
- Do Things That Scare You
- Get Curious
- Take Responsibility
- Give Yourself Goals
- See Problems As Challenges
1. Do Things That Scare You
The ability to take risks is one of the signs of a business-minded person. There’s never a safe time to start a business yet entrepreneurs’ risk everything to bring their dreams to life. There are no guarantees for entrepreneurs.
To teach yourself to take risks, start by doing small things that scare you. Get out of your comfort zone. Remember, you’re more likely to regret playing it safe as compared to taking a risk.
Source: CFA Institute
If you’re afraid of talking to strangers, ask someone on the street to take a photograph of you or strike up a conversation with a person in the elevator. Work your way up to overcoming your bigger fears. As you gain confidence, you’ll find yourself willing to take bigger risks.
2. Get Curious
When it comes to being an entrepreneur, you must put your ego aside and be always open to learning. We fear the things we don’t understand the most. Hence, start looking for information. This doesn’t always have to be in the form of formal education. With the internet, you can learn anything from a new language to the history of our planet.
If you’ve got an idea, research it. Talk about it with others. Look for similar products and solutions and see how they work. The more questions you ask, the more knowledge and confidence you will gain.
3. Take Responsibility
Taking ownership and control of situations is one of the lesser-known entrepreneur secrets to success. Psychologists call it the ‘Locus of control’. This is the amount of control you believe you have over your life. One of the common patterns seen amongst unsuccessful business owners is that they perceive success to be a matter of chance and blame external factors or their colleagues and employees for their failures.
To keep from becoming like this, start taking ownership of your actions. If you made a mistake, own up to it. If you’ve achieved something, take credit for it. Accepting your mistakes is the first step to learning from them and avoiding them in the future.
4. Give Yourself Goals
Entrepreneurs are not answerable to anyone but themselves. When they do well, there won’t always be someone to applaud them and when they fail, they don’t have anyone else to push them back up. Hence, it is important to be self-motivated. A survey found that 38% of small business owners consider self-discipline to be the most important characteristic for successful businesses.
To learn how to think like an entrepreneur and keep yourself motivated, start giving yourself short-term and long-term goals. Set achievable goals with a fixed timeline. These goals don’t have to be work-related. You may want to work towards reading a book in a week or earning a new degree, etc.
As you achieve your goals and move on to the next, you’ll gain confidence and learn to be self-motivated. If you don’t achieve your goals, be open to reworking them.
5. See Problems As Challenges
Entrepreneurs are faced with problems at every stage of their journey. They cannot afford to give up on any of them. Thus, they need to find ways around it. It’s about developing a problem-solving attitude.
Take budgets for example, entrepreneurs always have to work with limited budgets. They need to find ways to stretch every available resource. It’s one of the reasons why entrepreneurs gravitate towards working from coworking spaces rather than independent offices.
When you’re faced with a problem, challenge yourself to find a solution. Spend time looking at the problem in different ways to see how you can deal with it. You can also ask for help. Entrepreneurs don’t do everything alone. They have a team with them and mentors. Be open to discussing the potential of your solutions and finding other ways around the problem.
Entrepreneurs with businessman thinking capabilities are most likely to be successful. You need the right attitude, forward-thinking ideas and a supportive community. While you work on developing an entrepreneurial mindset, you can find your community in coworking spaces like those managed by The Office Pass.
The Office Pass (TOP) has shared office spaces in Noida, Gurgaon and Delhi. Each coworking space is fully furnished, air conditioned, equipped with high-speed Wi-Fi and basic office infrastructure and designed for professionals who want to work undisturbed as well as those who want to collaborate with others. To know more, reach out to us at +91 89998 28282.