Last Updated on: December 29th, 2016
So ya wanna be an entrepreneur, huh???
Entrepreneurship is becoming more and more popular, especially with the advent of the digital age.
Nearly anyone can now become an entrepreneur… or an author (a type of entrepreneur). I became one.
Depending upon which type of field you go into, are qualified for, or simply are passionate about, you will need to have basic skills (and be able to hire others for those you don’t have!).
In addition to being passionate, hard-working, and dedidacated (as well as perhaps have some accounting or book-keeping skills), you will also need to change your mindset, and understand a few other things about entrepreneurship.
My guest today is Katherine Brunt from Assignment Box, and she is going to go into detail about 6 things you need to consider when it comes to entrepreneurship. Be sure to respond to the question at the end!
Take it away, Katherine!
The Importance of an Entrepreneurial Mindset
In order to become an agile and influential entrepreneur, every day should be perceived as an opportunity, one in which any new or innovative thing could be done or planned. This is one of the most desirable aspects of an entrepreneurship, and through which mission statements and strategic visions could be formulated. The process of entrepreneurship could be perceived in the form of making appropriate changes in the mindset, and people are needed to alter their perspectives as well.
In other words, this phenomenon can also be explained in such a way that people should know and have the ability of exploring issues and problems.
At the same time, new and young entrepreneurs must know how to develop an alternative plan that can provide solutions to their problems and issues.
Problems should be proactively anticipated by the help of an entrepreneurial mindset that allows and provides different dimensions and possible ways of solving various problems.
An entrepreneurial mindset is very important because this attribute actually helps in building a roadmap through which young entrepreneurs can implement their strategies and action plans.
6 Ways for How to Think and Act like an Entrepreneur
There are six magnificent ways through which people could act and think like an entrepreneur and can attain desired outcomes in their businesses. These key aspects are mentioned as follows:
1. Shape Your Life Experiences
Entrepreneurship does offer great and amazing benefits to those individuals who want to utilize and implement the learning of their real life experiences. Therefore, this is a characteristic that helps entrepreneurs to explore and examine their vision and at the same time they place their objective in paper or writing.
In reality, these people allocate enough time so that they can make mental sketch and plan that will be helpful in guiding them through the process. As a result, entrepreneurs actually apply their experiences in writing form so that they can formulate vision and mission statement in a realistic manner.
This is the way through which people could develop specific skills and other attributes; as a result people could enhance their self-confidence to a great level. Therefore, people should understand their importance as an individual and they should perceive themselves as valuable and significant.
This aspect should be taken into consideration that life experiences need to be regarded as opportunities through which people could learn how to control and manage their own lives.
This scenario is very much applicable in the area of business as well, because objectives and long-term goals of the business can also be planned in a realistic way. There are different kinds of examples that can be given regarding life experiences.
Entrepreneurs also learn lessons from their life experiences. With the help of life experiences, people could become more realistic and practical in their approach. At the time of failures, they can use life experiences in order to overcome their failures.
Arianna Huffington, co-founder of Huffington Post, failed many times before becoming a successful entrepreneur. Her second book was not approved nor accepted by 36 publishers. At that time, she learned that failure is the opposite of success. Therefore, she tried hard and learned from this life experience.
Ultimately, she became successful. She also emphasized that we should not be ashamed of failures at any point of our lives. This kind of life experience will be helpful in achieving and sustaining long term success in the end.
2. Think Pragmatic Idealism
In order to take maximum benefits of the entrepreneurial mindset, one should think in both idealistic and pragmatic ways.
When people are able to correlate their imaginations, creativities, dreams, and perceptions with their skills, abilities, and knowledge (along with market opportunity), then they can act and think like an entrepreneur.
An example of pragmatic idealism is evident in the way people make true promises to their customers and clients in their businesses. They offer products and services that are based on the promises they make.
As a result, Mark Zuckerberg, who is a founder of Facebook, is considered as a pragmatic leader who has successfully used the notions of idealism of his approach. Facebook is the brainchild of Mark Zuckerberg in which he has combined his imaginations, creativity, and practical thinking at one place and this combination of idealism and rational thinking. In this situation, this person has tried to build a relationship between desires and possibilities to a great extent.
3. Think Strategically
A strategic vision or long-term thinking is highly desirable if a person wants to become an effective entrepreneur. In reality, they can actually perceive future scenarios through the help of their knowledge, past experiences, and present situations.
These people work in a proactive manner, as their decisions are mainly based on actual scenarios and experiences.
At the same time, they provide help and support to other people so that the people can grow their businesses. They plan and implement effective action plans by the help of performing SWOT analysis in which they analyze strengths, weaknesses, opportunities, and threats in a practical manner.
An example of great strategic thinking can be considered in the form of Google, which is assumed to be the best internet search engine of the world.
It is known for its successful strategic thinking because, from Day One of its inception, long term goals of Google have been achieved to a great extent.
Google has applied a notion of lifestyle strategy in which the organization is providing opportunities to existing and potential employees to work with them and enjoy their both professional and personal lives. As a result, their engineers are assumed as the best productive employees, as they are providing Google 20% of share in annual profits.
In reality, Google has retained their best workforce for a longer period of time and this is a prime example of successful strategic thinking for many people.
4. Act Purposefully with Vision
Those who desire to be entrepreneurs should focus on developing a kind of vision that is achievable, realistic and result-oriented. At the same time, this vision should be built based on actual scenarios by analyzing their strengths and weaknesses.
In this manner, vision is something that entrepreneurs want to achieve in reality, and, for that reason, they plan each and every thing (such as time, money, and other resources) as much as possible. In order to attain success, effective implementation is needed so that the vision can be attained.
One of the best examples of successful vision is the vision of Apple Inc’s founder, Steve Jobs. Jobs focused on innovation and as a result Apple Inc utilized effective planning to produce innovative and advanced products for their consumers.
5. Understand the Ecosystems
An ecosystem can be explained as the phenomenon in which an economic community is endorsed and assisted by the organizations and people. This type of ecosystem supports organizations in order to improve their overall performance or it is also helpful in improving any specific service or a product.
Business and economic ecosystems should be thoroughly analyzed by people so that they can evaluate the importance of ecosystems that could provide them desired results in their businesses. These ecosystems help different businesses and, as a result, long-term success is achieved.
Ecosystems can be assumed by means of considering those entrepreneurs who moves the concept of entrepreneurial ecosystems. This scenario can be explained by using examples such as Apple and Amazon.
Apple was a pioneer in producing the notion of The App Store, which really brought a revolution in the economic world. In this way, Apple has provided a new place or platform for many people and organizations to conduct business and buy services. At the same time, Amazon also developed a marketplace in which third party suppliers provide products and services on Amazon and as a result, an entrepreneurial ecosystem has been developed.
6. Learn to Focus your Energy
For the sake of obtaining achievements in the domain of entrepreneurship, one should learn this attribute in order to think and act like an entrepreneur.
Efficient people are those who learn the art of concentrating on their strengths for the purpose of improving their results. They actually keep trying to adapt and enhance their level of learning through the help of focusing on their strengths. This is the way through which people could attain long-term benefits provided that they can effectively use their energy levels in the right direction.
An example of this attribute can be provided by describing the personality of Jay Z, a famous rapper. Jay Z has extended his fame to other fields such as sports and in writing. He has successfully used his energy to write his own book, and he has been able to make huge benefits from his image and success story.
This is a prime example that shows how a person could use his or her mind in other areas in order to attain success.
By learning how to direct their energy, successful entrepreneurs actually enhance their learning and obtain achievements in other areas. This is an important aspect of entrepreneurship that should be considered by people in a detailed manner.
Final Thoughts on Entrepreneurship
People who want to become entrepreneurs need to really think about the many factors involved, and the importance of entrepreneurship should be comprehended effectively. At the same time, young or potential entrepreneurs are required to acquire and apply attributes in a proactive manner.
There is a need for developing a mindset that could enhance an individual’s perception and approach regarding entrepreneurship.
The habits and actions of one person actually influence the outcomes and results of others. As an entrepreneur, one should always be determined to bring and implement effective change in his or her approach so that the desired deliverables could be attained.
What Attributes Are Missing???
What other attributes do you think entrepreneurs have? Share in the comments!
Katherine Brunt is a well-renowned entrepreneur of Expert Assignment Help UK and currently she is managing her small business that works in the area of healthy lifestyle. She is also very much involved in different online platforms and shares her views and ideas about entrepreneurship with others. Her suggestions and informative ideas are highly acknowledged by people of all ages. @assignmentbox