How to Think Like an Entrepreneur (Because Entrepreneurs are Cool)

by James Stephens · 47 comments

Thinking Like an Entrepreneur
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Yo! This is a guest post from James. 

You all know that entrepreneurship isn’t for the faint of heart. It takes guts to work for yourself, make a living without the security of a boss and a safety net, and at the end of the day totally rock at it.

It takes sweat and determination, hard work and commitment. (Kind of like marriage, eh?) It also takes a brain just a wee bit off from the rest of the drum line. Thought processes that are just a tad bit different than your typical 9-5er.

In the post below, James outlines some of the most important differences between someone workin’ a job, and someone letting the job work them.

In other words, how to think like an entrepreneur. Because, you know… like the title says; entrepreneurs are cool! (Don’t you agree?)

Entrepreneurs are different breed from the people that work at jobs everyday. They see opportunities where others do not and they tolerate a tremendous amount of risk with their own money and resources at stake. Although being an entrepreneur is not for everyone, it does work for people that have that type of mindset.

Be Willing to Take Risks

As entrepreneurs, it is literally your job to take risks in order to earn a living and make a profit. There are no guarantees in entrepreneurship and there is no promise about how much money you will actually earn.

However, many of these risks come with a much higher income if they are executed properly. Chances are that everything may not work out, but something is bound to be successful if you keep trying. The bottom line is that you must be willing to take risks.

Believe in Yourself

Entrepreneurs must be self-sufficient and have a strong belief in themselves because they will be responsible for the entire organization. Starting a business in the first place requires you to believe that you will succeed because you may have to convince people to invest in your business for funding. If you believe in yourself, others will too.

Learn How to Delegate

Although many entrepreneurs start their businesses by doing almost everything themselves, this is really a habit that they must eliminate once the business has gotten off the ground.

Entrepreneurs must learn to value their time and delegate the menial duties and administrative work to other people so they can devote more time to actually build the business. It is definitely worth the money to hire employees right away if you can afford to do so because they will allow you to focus on more important things and experience faster growth.

Be Motivated and Determined to Succeed

Entrepreneurs must be extremely motivated and determined to succeed because it usually quite tough in the beginning. You will have to keep going no matter what and be willing to devote a lot of time to create a successful business.

Resist the Temptation of a J.O.B.

Everyone usually thinks of a dream job when they graduate from school because they are looking for decent pay and stability. By the same token, jobs cause stagnation in terms of experience and income because you will have no control over what you do , when you do it, and how much money you can make.

Everything is determined by your boss, but as an entrepreneur you are the boss. An entrepreneur can often start out with no salary at all and it becomes quite tempting to give up and go back to your job (especially in the beginning).

It is alright to keep a job until your business takes off, but you should not return to it later when things get hard. You need to stay in control of your life and income.

Learn How to Rebound from Failure

Unfortunately, failure is a major aspect of entrepreneurship because many businesses fail within the first 5 years. Failure does not mean that you are not good enough though it means you need to learn from your mistakes and work harder in the future.

Do not wallow in your mistakes and feel depressed because there is always hope. If you need help, then it is possible to hire a business consultant or attend business classes at local college or university. Even if your first business does not work, still plan on building a second business because you must keep trying in order to succeed.

Learn How to Recognize Opportunities

Entrepreneurs must learn how to recognize opportunities because that is how they create unique business ideas and solutions. Look for ways to earn more revenue or reduce costs in some way. Everything may not work, but you must be able to recognize when you have been presented with an opportunity.

At the End of the Day…

Entrepreneurship is a journey that few people take, but it is incredibly rewarding if you can master the mindset required for success and follow through with building your business.

In short, accept risks, recognize opportunities, and become self-sufficient and self-motivated in order to build a successful business on your own. It is not easy, but it is well worth it.

A to the Men James! If you liked this post, feel free to comment below. Also it’d be rather fabulous if you could share it with your friends. 😉

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