As an entrepreneur, building a business takes a large amount of time, work, and sacrifice. While demanding as it may be to handle such a task, at the end the day, the results are always worth it. But for this to be accomplished, you need to develop an attitude that embraces the mind, body, and soul of an entrepreneur. Some people many think it takes a special individual for this to happen. In reality, it just simply takes time.
So what does it take to be your own boss? What do you personally have to change and adapt when running your own business.
First and foremost, the critical ingredient to success is simply having the confidence to take a risk. No one ever said it was going to be easy to be an entrepreneur. Whether you are in the early stages of your startup or securing the final funding to launch your product, you immediately find that the real challenge is just getting everything started. Many people have a lot of ideas. But there are few who are able to leave the comfort and stability of their jobs to do something new; not tomorrow. not next week, but today. True entrepreneurs are doers, not dreamers.
So as a doer, your job is to make the impossible a possibility. This will require you to go above and beyond the 9 to 5 of a normal job. It will demand a large portion of your time and money just to get the opportunity to tap a somewhat stale or unheard of market. But when that moment of success happens, things become life changing. For many entrepreneurs, you need to have an innate ability to survive. In many cases, you will find yourself handling challenging and risky decisions. The main thing is to learn from every moment.
Now this may sound like an ambitious task, but that is what it takes to be a true and successful business leader. Yes, a portion does incorporate financial knowledge and management when running your startup, but the real success comes down to your personality. Below, I have highlighted five necessary habits that cultivate the overall mindset of a successful driven entrepreneur. If this sounds like you, you are already in making moves. If not, don’t worry. As I have stated above, this type of mentality and conviction takes time. It’s like what Michael Jordan once said; “I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life and that is why I succeed.”
What do you do with your failures?
In every business, there will always be mistakes. The main thing you need to understand is that it is not about the failure or disappointment, rather it is about what you will be able to do with it. Instead of looking at these mistakes as setbacks, look at them as windows of opportunity. Each mistake is a lesson for you to overcome. Remember, it took Thomas Edison over ten thousand times to create a light bulb. Each time he made one, he used those designs to learn from his mistakes. Like Edison, use those times of disappointment as a foundation for learning.. This will be one of the sole definer between success and failure.
Embody the Student in You
One of the biggest entrepreneurial downfalls is having a close-minded mentality. As an entrepreneur, you are defined by your ability to adapt and change. This does not simply mean handling various tasks all at one, but rather accepting and welcoming new ideas of how to improve and refine your business and its products. Because of this, your ability to learn from others, regardless of their title, will be a main factor in the development of your business. Take the opportunity to sit down with your workers. Ask them various questions of what they think can improve the company. Then implement those ideas into your business. Just look at Steve Jobs and Apple. They did not stand idly by and just make computers. Instead, they paved the way of how we see, hear, and purchase music and videos.
This will always be a factor in everything that you do. While personal and financial skills can help build up your business, confidence will allow you to make the best fitting decisions for your company’s future. At the end of the day, many of these overarching decisions will be on your shoulders. Do not let that intimidate you. Instead, use it as a motivator to stand out, even when it’s wrong. The more confident you are, the better off your company is.
Create Short-Term and Long-Term Goals
No matter what field you are in, goal-setting aspirations will help inspire and challenge you and your employees each and every day. Remember, if it does not challenge you, then it will not change you. For your goals, you want to create mile marks that will be beneficial to the company. Create quality and tangible goals that you know you can reach. The main thing is to not settle on average. Yes, creating some goals that are a bit far from your reach can be disappointing when you do not hit them, but they will be able to push and drive your workers in the best possible way.
Follow Through with your Goals
Whatever goals you set, make sure that you always follow through with them. Many entrepreneurs are faced with the daunting reality that doing task A, B, or C will not be financially beneficial for their future. Regardless of the proposed outcome may be, it is always important to try even if the probable outcome is failure. Just think about it; entering the field of entrepreneurship was risky in itself. Do not allow any obstacles or negative feedback prevent you from reaching what you are meant to do.