Whether you are an employee or you run your own business, an entrepreneurial mindset means you are drawn to opportunities, innovation and new value creation. Mindset is everything. When it comes to how you approach challenges and opportunities, your mindset determines the world you encounter and the possibilities you see.
Entrepreneurial activity can be defined as the innovative human action in pursuit of the generation of value through the creation or growth of economic activity by identifying and exploiting new products, processes or markets.
To build a business takes real work and effort but you can work hard and not grow if you don’t look for opportunities, embrace challenges and accept failures as part of the learning journey. Don’t get stuck in a rut of just doing. Henry Ford said, “If you always do what you’ve always done, you’ll always get what you’ve always got.”
What can you do to cultivate an entrepreneurial mindset?
- Be aware – awareness is the beginning of change
- Keep a positive attitude – tell yourself that you can do it and keep going
- Acknowledge and embrace faults – hiding from your weaknesses means you’ll never overcome them
- View challenges and problems as opportunities – reassess the current way of doing business, identify new customer needs and innovate
- Reframe failure – redefine failing as the starting line, part of process, on the path to success
- Keep the big picture in mind – think about the long-term plan while you’re doing small things so that all the small things go in the right direction
- Provide regular opportunities for reflection – develop and enhance your growth mindset through personal accountability and reflection
- Cultivate grit – remain focused and committed in the pursuit of your goals
- Make a new goal for every goal accomplished – growth is a path not a destination
- Think realistically about time and effort – patience and perseverance define successful entrepreneurs – it takes time to learn
- Be courageous – believe in yourself to take initiative and action, to have confidence in others and to stand up for what you value and to make decisions regarding what you need to do.
- Take ownership over your attitude – acknowledge yourself as someone who possesses a growth mentality
To be entrepreneurial, spend time nurturing a growth mindset. Your mindset is part of your personality but you have the power to choose the way you react to ideas and opportunities. It is the way you look at yourself and your world that will determine your accomplishments.
Have you got an entrepreneurial mindset? How has your mindset contributed or hindered your success?