Have you ever wondered what sort of role the mindset of an entrepreneur plays in realizing success? I can assure you it’s a lot more than most people give it credit for. After all, your mindset is your most valuable asset. With the right mindset, just about anything is possible. Without it, you will find it difficult to complete even the most menial of tasks — let alone run a business.
With the twenty-first century nearly two decades old, we have seen a drastic change in the way innovative businesses carry themselves. The advent of technology and the constant addition of contemporary ideas has ultimately improved the way we look at and conduct business on a daily basis. And who do we have to thank for how far we have come? Simple: the entrepreneurs willing to think outside of the box. There is no doubt about it: we owe a lot of today’s forward thinking business practices to groundbreaking entrepreneurs daring enough to push the envelope.
It’s worth noting, however, that innovation breeds ingenuity. As a result, you have undoubtedly noticed that there are more successful entrepreneurs today than at any other point in history. The competitive environment onset by today’s greatest minds is great news for progress, but there are those that will see it as a threat. If for nothing else, it’s certainly not easy out there.
To succeed, and I mean really make a name for yourself, you have to bring something else to the table. It’s no longer enough to simply try hard. There are too many smart people out there to assume you can gain a leg up on the competition without exercising some sort of advantage.
I maintain that there is one thing you must exhibit if you hope to compete at the same level of those that are currently where you want to be: the mindset of an entrepreneur. As trite as it may sound to those on the outside looking in, investors with the right mindset will prevail over those without it ten times out of ten.
But what does the mindset of an entrepreneur really look like? Is it really that much different from your average, everyday individual? Let’s find out.
Again, your mindset is your most powerful asset. As such, it is absolutely imperative that you hone and sharpen it whenever possible. If for nothing else, anyone can cultivate a mindset, but it’s those that cultivate the right one who will ultimately realize success at higher level. Let’s take a look at some universal characteristics the mindset of an entrepreneur must exhibit in order to work for you, instead of against you.
I don’t want to sit here and tell you that failure is a good thing, but it’s not nearly as bad as we all make it out to be. And while the alternative (success) is certainly almost always better, it’s those that can learn from their mistakes that find themselves making the most progress in their respective fields. So while it’s hard to argue in favor of anything but the successful navigation of a given task at hand, today’s most successful entrepreneurs are capable of turning even failures into an educational experience. And what is a good education if not for the foundation of your entire career?
Failure isn’t scary, but rather embraced; today’s most successful entrepreneurs know it, and it’s about time you did. If you are interested in adopting the mindset of an entrepreneur, the first thing you need to do is give up the notion that anything but success is inherently a failure — it’s not. While you may not have accomplished what you set out to do, you did learn a valuable lesson. As the late, great Thomas Edison once said, “I have not failed. I’ve just found 10,000 ways that won’t work.”
It’s those that can not only grasp this sentiment, but also embody it, that will ultimately exhibit the mindset of an entrepreneur. So the next time you make a mistake, don’t linger on the verge of disappointment. Instead, take what you learned and apply it to relevant situations moving forward. Only then will you truly see growth, both in your mindset and your career.
Cherish Your Closest Relationships
Regardless of the line of work you are currently in, it’s likely that you can benefit from the help of others. Real estate, for example, is a people business; it always has been and always will be. Not unlike the mindset you exhibit on a daily basis, the people you choose to align yourself with are one of your most valuable assets. In fact, you could argue that who you know is as important as what you know. It’s entirely possible for the right business partner to elevate your career to the next level, and those that realize how important their rapport with others is will certainly be rewarded accordingly.
It’s worth noting, however, that it’s not enough to simply collect friends; you have to cherish those relationships you deem important. The mindset of an entrepreneur would have you cater to those you work with in a selfless manner, as to generate good will. And therein lies the true benefit of an entrepreneurial mindset: it will have you place the needs of others ahead of your own. It’s only in putting yourself out there that you will be made privy to today’s greatest minds.
The mindset of an entrepreneur is constantly looking for ways to not only create new relationships, but also ways to cater to old ones. With that in mind, if you hope to adopt the mindset of an entrepreneur, I recommend acting with humility and exercising a level of selflessness that is sure to catch people’s attention. Remember, you need to be proactive in aligning your efforts with those of others. You can’t expect others to do the same for you. But once you do, your selfless acts won’t go unnoticed and the appreciation of others is more likely to be reciprocated. Only once both sides are willing to help each other will the true benefit of great relationships shine though, and only with the mindset of an entrepreneur will those relationships be prioritized as one of your most valuable assets.
Educational Opportunities Are As Vast As You Make Them
A truly gifted entrepreneur is smart enough to know that they don’t know everything; there is always more. Today’s best entrepreneurs know it, and so should you: you are only as smart as you want to be. So if you want to give yourself the best advantage, you have to strive to educate yourself accordingly. Know this: your educational prowess is only as big or as small as you want it to be. So if you want to be the best in your line of work, you need to make absolutely certain that you are doing everything you can to advance your own knowledge. To do anything less is to doom your own business to failure.
To assume you know everything is a practice in ignorance. At the very least, those buying into the false narrative that they have learned everything that their field has to offer are inherently stagnant. If there is nothing else to learn, how can they possibly take their game to the next level? If you are convinced you know everything, there is inherently nothing more to do. Having said that, it’s only those that are smart enough to realize they don’t know everything that continue to get better. And you are no exception.
It’s not enough to simply admit that you don’t know everything, however; you must understand that it’s up to you to broaden your horizons. The mindset of an entrepreneur, for example, will exhaust all avenues to ensure they are maximizing their opportunities to learn new material. It’s in your best interest to understand that educational opportunities never cease. As an aspiring entrepreneur, you must strive to further your education with every chance that presents itself. Read books, attend seminars, meet with others that have successfully done what you want to accomplish; do whatever it takes.
The mindset of an entrepreneur is a complex matter. After all, you could argue that every successful entrepreneur exhibits their own unique mindset, and you wouldn’t be wrong. However, I would argue that the most successful entrepreneurs do share universal mindset characteristics. While the concepts I discussed above are far from everything that makes up a successful mindset, I am convinced they are universally adopted by every successful entrepreneur.