The entrepreneurship mindset is a key feature of business success. It is true that the idea of starting your own business is, in itself,  quite exciting and rewarding.

Entrepreneurship mindset is key: To actually implement a business idea is not easy. Successful entrepreneurship requires careful planning, discipline, and hard work. How can one argues against the advantages of being one’s own boss, the ability to set one’s own schedule and to pursue one’s passion.To become a successful entrepreneur, there are certain characteristics and skills one must have. Some of them are outlined as follows:

    • Risk taking: Taking risk is one of the important features of entrepreneurship. So you must feel comfortable in taking decisions that are risky, but you have to distinguish between reasonably risky and reckless decisions. AS you know, making tough 
      Entrepreneurship mindset

      Entrepreneurship: The Practice and Mindset 1st Edition by Heidi M. Neck (Author), Christopher P. Neck (Author), Emma L. Murray (Author)

      decisions is one of the perks/features of being your own boss.   Building a business includes a great deal of uncertainty. If you are a person who tends to avoid uncertainty at all costs, then entrepreneurship is probably not for you. However, if you enjoy the excitement of taking calculated or reasonable risks, then you probably have the guts to become an entrepreneur. After all, when you live paycheck to paycheck, you are actually taking enormous risk. You just do not have any control over it or you do not think about it. An employee is simply someone whose does not think of the risk of building a business. You settle for a paycheck that represents 8h/day of your labor because you know that paycheck will always come at the end of the week or month. However, you are helping to build wealth for someone else. Further, if that business goes bankrupt, you will no longer receive that paycheck. If that enterprise thrives, the best outcome for you is to continue to receive that paycheck maybe with a meager raise once in a while. In the meantime, your boss, who thinks about how to mitigate those risks, gets all the rewards. SO you have to think about the fact that you are still taking risks as an employee. You just do not invest money upfront, and you do not think of the risk that the business may go under. Even bigger is the risk that you will always have enough to survival as long as you hold that job and will never be a wealth builder for yourself. You do help to build wealth alright, but exclusively for your boss!

  • A sense of independence: When you are an entrepreneur, you have to make a lot of decision on your own. The limit to your potential is your own creativity. As entrepreneur, you cannot rely on others to take the lead. You have to rely on your own gut feeling. You cannot afford to be afraid to take initiative. Being proactive is what you have to demonstrate every business day in order to succeed. You know you are not going to get your way all the time, so you are prepared for rejection once in a while. That the the mindset of an entrepreneur!.
  • An entrepreneur has to be persuasive. Your idea may be the great ever. Id you are unable to persuade potential clients, emploees, or potential lenders or partners, then it may be very difficult for you to succeed. There is a saying: “you do not get what you deserve; you get what you negotiate”. It all comes with persuasion. If you have oratory skills, do not hesite to engage people,and you are able to make fact-based arguments, you already satisfy essential conditions for your idea to succeed.
  • You have great negotiating skills. I am going to go back to this important quote: “you do not get what you deserve; you get what you negotiate”.  As an entrepreneur,, every deal you have ever made and will ever make will largely depend on your negotiating skills. These negotiating skills will directly impact how much money you save and how efficient your business runs. Your ability to negotiate is a key ingredient of your business success.
  • You have to be creative. In fact, there is no business without creativity, starting with the central idea of your enterprise to the execution of a winning strategy for your business. Once you start your business, you will realize that to develop a concept as the foundation of your business, you will need to come up with innovative ideas for your business to succeed. You will have to come up with new ways to solve problems? Often your success will depend on your ability to think outside the box. Your creativity is necessary to provide insights as you face new challenges every day to stay competitive.  It is with your creative thinking that you will be able to take advantage of future opportunities. In fact, creativity is what sparks and develops a business. 

After this long discourse, do your still think you are convinced of the entrepreneurship instinct and skills. We will have some more important questions for you then…  Do not forget other resources from organizations like the Small Business Administration and others.

 

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