I have to admit I easily know when I am in the presence of another entrepreneur. There are certain words and a way of thinking that gives them away. While, in the past, the concept of entrepreneurship was associated exclusively with people who started companies, currently being an entrepreneur is about a specific way of thinking. Entrepreneurs come in all shapes, sizes, and ages, but some common traits that differentiate them from the rest of the world. They all converge in what is known as an entrepreneurial mindset.
The entrepreneurial mindset gravitates around the way entrepreneurs think and approach things. Don’t think that this mindset is native to entrepreneurs. Yes, some may be born with an inclination towards this approach but most of them learn to cultivate it. Successful entrepreneurs have a certain way of looking at the world: they see the need for patience when others see failure and find challenges where others find difficulties.
This specific mindset is resilient and generative. It is rarely taught in schools and often learned through experiences and practice. It prepares entrepreneurs to be proactive, make quick decisions, be optimist, embrace chaos, and always have several plan B’s. As expected, not all entrepreneurs think alike and not all excel at every component of an entrepreneurial mindset. However, they learn to identify their strengths and weaknesses and adapt. The key is to always be flexible, willing to overcome your limits and learn continuously.
Here are some tips on how to think like an entrepreneur:
Choose to cultivate your mindset
Learn how to control your attitudes and assumptions and change them when necessary. If your current mindset is not taking where you want to go, change it! You are the only one who can control what you think and how you react to everything that is happening around you. Choose your mindset and reinforce it daily. Listen, read, write, and, most importantly, act accordingly! Find out what you want in life and go for it! Never settle regardless of your circumstances. There is always room for improvement and your mindset will take you to new heights.
Learn to recognize opportunities
The world is chaotic and opportunities come and go with the speed of light. Learn to take a step back and assess the everyday reality. Entrepreneurs are known as avid opportunity hunters. They see success where everyone else sees a waste of time and money and know how to differentiate between the two. Never try to imitate strategies and set your own course. There is no reward from stepping into the footsteps of others. True entrepreneurs know they have their own path to follow and let no one stand in their way.
Be comfortable with risks
Entrepreneurship is all about risks. As such, one of the first things you need to do is to learn to be comfortable with risks. However, this doesn’t mean you should jump off a cliff without knowing how to fly. Weigh and assess risks and accept the idea that your time and resources may be invested in opportunities that will not pay off. However, you only need one risky idea to materialize into success and you will be on your way to greatness. As long as you keep weighing and realistically assessing risks and stick to your long-term strategy planning!
Make quick decisions
Not many people excel at making quick decisions, especially when everything else around them starts to catch fire. The key to an entrepreneurial mindset is to know which fires to put out and which to let burn. Because there will come a time when you will have to make more than one decision at a time. And this is when the true entrepreneurship spirit will prevail! You need to be an outstanding analyst, always armed with solutions. Entrepreneurs are always solving problems, from the small ones, like how to set up your website, to the bigger ones, such as how to put a man in space. Learn to be creative and think unconventionally. At times, you will have to forget what you have been taught in school and swim upstream! Embrace the challenge!
Commit to your purpose
Perhaps the most important thing I can tell you about an entrepreneurial mindset is to never give up. Don’t find excuses, don’t procrastinate, and don’t focus on making quick bucks. Stick to your long-term business plan and steer clear from fleeting distractions. Remind yourself that you are in it for the long haul and focus on the goals. There is no room for doubts, there is no time for second-guessing yourself. Define your mission and follow it religiously. Slow down when you need to, be flexible, but never stop! Entrepreneurs learn from experiences and not from theory. Live the story, so you can get better. Be aware of others’ experiences but set your own path. And you will eventually reach the destination you imagined for yourself only to discover that you can do more!