The essential mindsets an entrepreneur needs to succeed

Posted on Posted in 2016 Business Opportunities For You, What's Trending Now

 

For those entrepreneurs who are just getting started, here are the three mindsets that you need to succeed, along with tips on executing these mindsets.

 

1. The “this is the right direction” mindset
The “right direction” mindset is necessary when decisions have to be made with time constraints. It is an especially important mindset at times of uncertainty which, for every entrepreneur, happens a lot. This mindset works well when the team or company is smaller and you’re making decisions within your realm of expertise. You also need this mindset to take your vision from ideation to existence.

That said, be careful getting too caught up in this mindset as your team grows. You will have other smart leaders (if you’re hiring correctly), and the right direction needs to come from the group.

 

2. The “no” doesn’t mean “no”, it just means “not now” mindset
First of all, you can’t take “no” personally. Getting rejected is part of the entrepreneurial journey and learning process. Do not let the negativity distract you. Instead, focus on getting more noes, and eventually, you’ll realize that you’ll get the yeses.

 

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Be careful not to get too carried away. No definitely does NOT mean yes or maybe. If you push too hard, you can alienate other people and sever relationships. When people say no, give them some space and ask them later for feedback on why they said it if it wasn’t inherently obvious. Use questions like: “Why did you decide against purchasing our product or using our service?” and “What would make you or would’ve made you a yes?

 

3. The “I was wrong” mindset
It is one thing to strive for excellence, but it is a completely different thing when you never admit that you’re wrong. No one wants to work for someone who thinks they are perfect and never admits when they are wrong. It shows a strong sense of insecurity and lack of awareness. The worse thing about being wrong and not owning up to it is that it sets the wrong precedent internally. If you, as the leader, don’t admit when you’re wrong, then others internally may never do it either. This means people will not be growing from their mistakes. At times, small issues may snowball into even bigger concerns.

There are also positive outcomes to admitting when you’re wrong. For one, it shows a bit of vulnerability. It humanizes you. Also, owning your mistakes can be very powerful for company culture and getting help.

Be careful not to get too carried away with admitting when you’re wrong. Not many would want to work for someone who’s always wrong.

 

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