Do YOU have an entrepreneurial mindset? If you have great know-how, then maintaining your job security will be easy, as long as your job remains relevant. But, if you understand WHY everything must occur, you may have an entrepreneurial mindset – you may be someone who can lead a business startup to great success.
As an entrepreneur, you will lead all of your staff by providing direction. But, you probably shouldn’t actually manage them, after your business startup gets off the ground. Please allow me to explain…
What is the difference between an entrepreneur and a manager?
Answer: Entrepreneurs lead business startups – managers direct and oversee employees.
Management provides a buffer between the leader (entrepreneur) and the staff. When entrepreneurs try to manage employees, people quit. Entrepreneurs are typically overburdened, impatient control freaks who need to get more sleep, but won’t!
Entrepreneurs know the WHY
As an entrepreneur, you must always understand WHY each duty exists and how those duties 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 started an English academy in Mexico called LADAIA (La Academia De Aprendizaje Inglés Acelerado). One of the most effective advertising efforts has been flyer distribution. We’ve circulated thousands of flyers every week, tracking where and when we put them, in order to manage periodic redistribution.
I understand WHY we do what we do
Using flyer distribution as an example, we’ve circulated them daily. While we’ve done this, we spoke to people about learning English everywhere we’ve gone. If they showed interest, we got their information, in order to call them at a later date and set up an appointment. This combined effort provided more inquiries and more leads to call regularly.
Sometimes, my employees would complain about distributing flyers on hot days. They said that there’s plenty of phone numbers to call and that there’s many inquiries coming in on the phone. The problem has been, every time we neglect to distribute flyers, those inquiries wane very quickly. Also, the list of new leads gets exhausted – the list stops bearing fruit. Then, after restarting the effort, there’s a multi-day lag in response. I calculate EVERYTHING and know exactly what needs to be done, how often, and why. But, sometimes my passion gets the best of me.
Fortunately, I employ an intelligent, level-headed manager who carries out my instructions for the company. Of course, I always encourage flexibility. And, I make sure my manager takes good care of my employees. But, when I get angry, frustrated, stressed, or all of the above, my manager shields my outbursts from the staff. Then, he takes action in a more politically-correct manner.
It’s ALL ABOUT YOUR PEOPLE! Your people are the ones who MAKE IT HAPPEN! You direct them, and they support you! They perform their jobs well, so your company can succeed.
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
…BUT FIRST, I need your help to get the word out! Please share this blog post, so those with entrepreneurial tendencies can find it and check it out.
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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 work 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, not 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 only moves you forward at the required pace. Both are strong motivators, but owners reap 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 your child. You’re the “parent” raising your own 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 leadership
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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