Many people of all walks of life imagine becoming a businessman. Some people are simply born with the elements of entrepreneurship and some people have to build up the skills and understand the traits. This article is intended to address the latter of the two varieties of people that desire to build up the skills and ways to go about this process together with the 9 principles to create the basic first step toward developing your entrepreneurial mindset. Remember that entrepreneurship is a marathon and not just a sprint.
- Know your why. You must first see which way you want to go and what you need to achieve. Realizing you want something more beyond life is only the beginning. Whatever your why/reason whether it’s to be your own personal boss, spend more time your family or have an overabundance of freedom. You must be capable of see this, visualize this, feel it, taste it and desire it concise you believe you’ll be able that nothing could prevent you.
- Have faith. Belief is one of the primary elements to success. Every entrepreneur believes they are deserving of something better. If don’t believe in yourself, it will be hard for others to have faith in you. You will need to have faith on a daily basis to keep advancing and overcoming all the obstacles that you will face as an entrepreneur.
- Have passion. We all have a desire for something. Some people could possibly have buried their passions as a result of life smacking them around, for example the recent economic recession, forcing them to enter into survival mode. Something else that tends to affect the passion of some is when they are surrounded by naysayers. Take time today to analyze or inventory your life again to determine what you love, like or would like to be involved with, also who can be a positive influence in your life.
- Commitment. One of the challenges entrepreneurs are facing is having to work with restricted budgets. The solution to overcome this challenge is to have a high work ethic and commitment. Being prepared to do what others will not do! Do business with others how you would want someone to do business with you. If you say you are doing something, then “Do It”. No matter how inconvenient it can be. The effort and respect you will gain from your associates and customers will be tremendous.
- Discipline. Discipline does not come natural. The first thing our military does in their boot camp is train the soldiers discipline. Have you ever heard the statement in the military, “We do more before 6 am, than a lot of people do right through the day”. CEO’s on the larger companies I have met are up between 5:00 and 6:00 am, and ready to produce between 6:00 and 7:00 am, well before the rest of their managers and employees planning their days and overall things that were unfinished. Successful entrepreneurs did not get where they are because of the 9 to 5 schedule, they went beyond what was expected of them. Discipline is breaking your bondage from internet games, useless apps, emails and TV shows and investing time on the areas that will yield the results to get you closer to your goals. Did you know that if you were to invest one hour five days a week for one year on improving entrepreneurial skills you invested 250 hours in the future your enterprise? Just that one hour per evening will give you an edge against your competition and will pay off in abundant return.
- Budget. As I said earlier a lot of people are working on a shoestring budget to get started on their business. There is plenty of great programs available to help you set up, and monitor your budget. Having or starting a business without a budget is suicidal venture.
- Time management. Effective time management techniques are planning your following day or a few weeks in advance. It is about managing yourself to avoid over-committing and under-delivering. Effective time management is about balanced life, so we do not get enslaved to our businesses. Wake up sixty minutes earlier or stay up an hour or so later to get the duty done in front of you. Avoid time wasters, do not let them detract from your productive time.
- Continuous learning. Entrepreneurs are avid learners. Did you know that if you read just 10 pages five days a week of books that improve your skills you would have read approximately 2,500 pages in one year? If you do this you will gain an advantage over your competition, guaranteed! Expanding your mind is key to becoming successful entrepreneur. Today you have multiple ways to achieve this goal ranging from ebooks, video lessons, webinars, cds that you can listen while you drive.
The eight principles above will develop an entrepreneur mindset that will lead to action. There are countless principles to build up as time goes on. However, these eight principles are the building blocks that successful entrepreneurs use on a daily basis. Read the principles above, choose one and start building upon it and then move to the next until you have all eight mastered. Finally, I share with you a little secret (people love secrets), there isn’t a get rich quick method, success does not happen by accident and everything we perform successfully will require effort, discipline, integrity, know how, commitment and persistence.
Let me know what you think about the list above and your entrepreneurial journey.