What is YOUR entrepreneurial mindset? If you have great know-how, maintaining your job security is easy, as long as your job remains relevant. But, if you understand WHY everything must occur or not occur, you can lead your own company in the direction you see fit. Thus, you can lead your staff, regardless of whether or not you actually manage them.
What’s the difference between an entrepreneur and a manager?
Answer: When entrepreneurs try to manage, too many people quit – they’re control freaks!
Management provides a safe buffer between the leader and the employees.
Entrepreneurs know the WHY
You must understand WHY each duty exists and how they should be prioritized. To do this, you need to have good entrepreneurial vision, which is the foresight required to steer a business startup in the right direction. You already know the market research, but do you understand the big picture? Knowing WHAT needs to be done, and WHY, should be exactly what makes you tick.
My personal entrepreneurial mindset
I own an English academy in Mexico called LADAIA. One of our most effective advertising techniques is putting flyers and small window signs in as many of the local businesses as possible – about 95% allow them. We put out thousands of flyers per week, tracking where and when we put them so we can refill periodically.
I understand WHY we do what we do
My employees who put out the flyers sometimes complain that it’s too hot outside to do them today. I know the difference in inquiries per day when we don’t do flyers that day – it’s big. I fully understand WHY we do them regularly, and we always grow because I make sure it happens. Also, I take good care of my employees, which keeps them happy and motivated!
Are You a Small-Business Owner or an Entrepreneur? The Difference Is Important to understand in order to realize your true entrepreneurial mindset.
Your most important duty
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Thank you! Now for your most important duty:
Having the know-how is great. And the more you have, the better. You WILL perform many, if not all of the duties during the early days of your business startup. Just don’t forget your MOST important job: NAVIGATING YOUR BUSINESS STARTUP FORWARD!
You’re not a freelancer, you’re the ENTREPRENEUR RUNNING THE SHOW!
Each duty is determined and prioritized by you. Therefore, focus on implementing your entrepreneurial vision first and foremost. Do this regardless of your skill-set and know-how. Go ahead and do those jobs when you must. But don’t get too comfortable performing specific duties. You’re not a freelancer, you’re the entrepreneur running the show.
Having the correct entrepreneurial mindset
As the entrepreneur, you’re the board of directors and the stock-holders all wrapped into one person. Keep in mind, neither of those groups manage anybody. They DO call the shots, but they don’t implement them. Of course you’ll perform much of the implementation in the early days, but you’ll do it as the owner, now the worker.
Your passion drives you forward
Ownership is part of the entrepreneurial mindset. When you own a task, your passion drives you forward. When you’re manager owns your task, your directive just moves forward at the required pace. Both are strong motivators, but owners reap all of the rewards. And passion overcomes any lack of know-how. When you own it, you truly care about getting it done right.
For some examples of the entrepreneurial mindset, check out: Ten Things Entrepreneurs Don’t Do here at GravyGrowth.
Misconceptions about entrepreneurs
As you may have already discovered, obscurity is commonplace in the life of an entrepreneur. Nobody will truly understand you. They won’t understand WHY you do what you do. Working 15 hours or more per day keeping EVERYTHING on-course and balanced isn’t a normal duty – it’s not a normal job someone would have at a company. That would be like having someone else raise you child. You’re the “parent” raising a business.
As the “parent” of your business, don’t let someone else raise it
You don’t have a job title
“Entrepreneur” is not a job title. Most people think you have to work at a job within your business startup. And, “Manager” is typically the job title they expect you to hold. But, “Manager” is a full-time job all in itself – you’re already working 15 hours or more per day as it is!
Find someone to manage the day-to-day duties according to your lead
As jobs and responsibilities increase at your new business startup, you’ll need to put a good manager in place in order to keep the ball rolling effectively. Find someone who can manage the day-to-day duties according to your direction. The correct entrepreneurial mindset here is leadership, which isn’t the same as management.
Entrepreneurs are unconventional
Sorry if this sounds repeated, but you don’t work “at” your company. You’re the entrepreneur with the mindset and vision who sees the path to success. Always work “on” your company first. You’re the one who knows the “why.”
You probably work harder and longer than anyone else at your company
Entrepreneurship is such an obscure concept for so many people to understand – new entrepreneurs and small business owners included. And, it’s sad, because you probably work harder, longer, and innovate more than anyone else at your company. You’re it. You’re the key to success!
For fine-tuning of your entrepreneurial mindset, check out: Top 10 Tips From Seasoned Entrepreneurs.
You’re the one who’s most preoccupied by the progress
Your passion keeps you on-the-clock 24-hours-per-day, seven-days-per-week, and 365-days-per-year. Who is the one most preoccupied by how the company is doing? Only you. You’re the one who takes the highest risk. Yet, you don’t even get a paid holiday for Christmas. Keep the right entrepreneurial mindset as the visionary who’s focused on starting and growing a business startup, not on managing one or working at one.
“Talent does what it can; genius does what it must” – Edward G. Bulwer-Lytton
Successful entrepreneurs are sometimes called “geniuses.” Those simple yet never-realized approaches developed by them can leave some people in awe. It takes ingenuity to correctly determine the “why” and direct the course to success for a business startup.
Thank you for reading:
Entrepreneurial Mindset – What Drives You?
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