Develop your entrepreneur mindset with these 3 essential hacks

 

Have you been daydreaming about a different kind of working life? The kind where you leave behind the 9 to 5 grind and work with great clients in your own business doing what you love?

 

You may have been thinking about a business startup for a while and even taken steps to bring your idea to life. You probably already know a bit about how to become an entrepreneur and realize it’s a lot more work than sipping cocktails on a sandy white beach!

 

Becoming an entrepreneur isn’t just about having a good idea and utilizing technology (and other business systems) to get you there. The key to becoming a successful entrepreneur lies in a strong entrepreneurial mindset.

 

The entrepreneur mindset is about your attitude towards difficulties, how you overcome challenges and what values and emotions drive your thinking and decision-making processes.

 

And while you may be only at the start of your entrepreneurial journey, there’s no better time to start flexing your entrepreneurial muscles with these three mindset hacks.

 

#1 entrepreneur mindset hack-entrepreneurial alertness

 

Studies have identified that the ability to identify opportunities is a core attribute of entrepreneurship. So how do you identify these opportunities and come up with great ideas?

By being alert, also known as ‘entrepreneurial alertness’.

 

Entrepreneurial alertness is an essential mindset trait you need to develop to increase your chances of success. It involves a three-step process:

 

Step 1: Scanning the environment around you and searching for new information

 

Step 2: Connecting that information with your existing knowledge (for some entrepreneurs this can be previously unconnected information, also known as ‘disruption’)

 

Step 3: Evaluating if the idea is workable 

 

While this sounds straightforward, to develop an entrepreneurial mindset you need to start looking at the world in a different way. 

 

When it comes to learning new information it’s not about having a college degree! For entrepreneurs, continually absorbing new information is one of the keys to long-term success. You can do this by: 

 

• signing up to industry mailing lists
• joining social media groups
• browsing the internet
• going to networking events
• studying a short course
• listening to podcasts
• and more

 

The next step is to take new information and look at it differently, then develop a business idea. If it’s a new idea for a gap in the market, it’s known as ‘disruption’. While not every entrepreneur is going to identify a disruptive idea, developing your disruptive thinking helps hone your entrepreneur mindset. You can do this simply in four steps:

 

Step 1: Look at the world around you and identify an object or a situation. Maybe these are things you see every day, or they could relate to your business idea   

 

Step 2: For each of these, think of how you use them, their elements or any problems you’ve experienced

 

Step 3: Now look at this information and try and think of a solution to the problem or a unique way of doing things

 

Step 4: The final step is to look at your ‘solution’ through business eyes and assess if your idea has the potential to become a profitable business startup. Hint- you may need a mentor or to collaborate with others in your industry.

 

#2 entrepreneur mindset hack- collaboration

 

Here’s the truth- you can’t do it alone. No successful entrepreneur has achieved success by going it alone. They have been supported by experienced mentors and surrounded by great teams. In short, they have collaborated. When you’re just starting out, collaborating with the right people and developing a mindset that values collaboration will set you on the pathway to success.

 

One approach to developing this mindset is to cultivate what’s known as an ‘infinite mindset’, a term devised by author and motivational speaker, Simon Sinek. It’s a way of thinking that is relevant to 21^st century business and particularly important for entrepreneurs.

 

An infinite mindset is not about beating the competition, more so being inspired by your competitors. It’s not about reaching a specific goal, such as how much money you are making, it’s more focused on why you are in business. And it is this mindset that embraces the opportunities that come from collaboration. 

 

So how do we best collaborate? You can do this by:

 

• finding a mentor- mentors can be found by approaching more experienced people in your industry, through online networking groups or established business support networks

 

• collaborating with others- meeting and networking with other people in your industry isn’t a way to steal ideas! It’s a chance to share common issues, explore solutions and get support from like minded people

 

• growing a team- all successful businesses are backed by a skilled team. It’s about identifying your strengths and weaknesses and bringing in the expertise that you need

 

#3 entrepreneur mindset hack- resilience

 

One experience shared by all entrepreneurs is challenges. And when you’re just starting out, there are many! Whether you’re working crazy hours, taking important phone calls in the bathroom or doing something outrageous to get noticed, challenges are an ongoing part of the entrepreneurial journey.

 

What defines entrepreneurs is their ability to persist in the face of these challenges – to learn from their mistakes, to combat negative thinking and stay true to their entrepreneurial vision.

 

Having resilience and grit is an important component of the entrepreneur mindset and one of the reasons behind entrepreneurial success. All entrepreneurs take risks and experience failure, but it is the ones that are most resilient that survive and thrive in the long-term.

 

So how do you develop resilience? Some believe that people are born with it, but it can be learned. This important element of the entrepreneur mindset is a trait that can be cultivated through learning and experience. Start developing your resilience by:

 

• Challenging yourself with new experiences
• Observing how you respond to difficulties and seeing if there is a better way
• Accepting that change is constant, and you don’t always have control over what happens
• Avoiding overwhelm and breaking down difficult tasks into bite-sized pieces
• Learning something positive or useful from failures
• Accept that failures will happen and keep going
• Manage negative thinking and cultivate optimism
• Master the quality of your inner talk

 

It’s inevitable that at some stage you’ll feel overwhelmed or experience a setback. Take note of what’s happened, make the necessary changes, learn from the challenges and most importantly, stay true to your entrepreneurial vision. It’s this ability to persist and stay true to your entrepreneurial vision that helps develop the resilience you need to succeed.   

 

Entrepreneurial alertness, collaboration and resilience are only a handful of entrepreneur mindset hacks, but it’s helpful to start thinking differently to expand your mindset and set yourself up for success. And remember, it’s not a destination, just a continual process of learning and growing. So which mindset hack are you going to try?

 

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