How to Change Your Entrepreneurial Mindset for Success

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Entrepreneurship is a difficult journey. It requires you to be motivated and willing to take risks in order to succeed. Most people decide not to become entrepreneurs because they think it’s too risky. Yes, there will be financial risks and market risks, and even the possibility that your idea will not take off as technology evolves. Can your business idea fit? This is scary for many would-be entrepreneurs.

There are many reasons why people decide to take this incredible leap to become an entrepreneur. As business owners, we want to have more control over our time and working hours, to be able to change the world in some way, and for many of us, the idea of having financial freedom and possible riches can be a huge motivator.

Nearly 97% of business owners will tell you that they have not planned to return to their traditional work but are those who survive really motivated by money?

Related: 11 Mindset Traits of Successful Entrepreneurs

Don’t think about what your business can do for you. Think about what you can do for your business.

So many entrepreneurs and business owners start their journey thinking they are going to be rich and plan how to spend all the money they hope to make. It’s the wrong way to think about it – and it can hurt your ability to achieve financial freedom.

Even after reaching the point in my business where I could feel comfortable putting things on “cruise control”, I continued to have the mindset to continue bringing value to my business so that my business can continue to provide value to the community. If I’m not providing value to my community members, I’m not doing my job as an entrepreneur, business owner, and human being.

But don’t I need to earn money to have a successful business?

Yes, your business will need to make money to be successful, but if that’s what you’re going into it for, you won’t be successful. If you say “how can I help the community, change things and have an impact”, then money will be a by-product. Then success will be imminent.

Here’s what to remember to guide you in the right direction when it comes to succeeding as an entrepreneur:

  • Put your success first. Entrepreneurs who do this put more effort into their business without getting distracted by the uncertainties of making money from it. As long as you have a vision for your business, you have no reason to worry about your bottom line.
  • Stop thinking hard work means more money. We are used to being told that if we do the work, we will be rewarded. If every hard worker got rich, many more rich people would exist. No, the truth is, you have to work smarter in less time to spend the time you save doing what you’re passionate about.
  • Become the most valuable person in the room. I’m not talking about dollar value. If you’re passionate about creating vegan sauces, become the go-to sauce expert. If you want to get into real estate, learn everything there is to know. Don’t push yourself until you’re exhausted from the pressure, but don’t push your passion so that someone else gets there first. You want your community members to think, “oh, yeah [insert your name here] is the best at what they do!”
  • Keep working if necessary. If you can’t afford to give up your day job just yet, don’t. That doesn’t mean you’re not doing enough to achieve your dream of being an entrepreneur. You can be an entrepreneur and still work for someone else. It’s neither. If working helps pay the bills while you think about logistics, keep it until you need to work full time.
  • Stay in control. The moment you let someone else tell you what you should do with your career, you open up the possibility that someone else holds the card to your success. You can have a mentor who can point you in the right direction, but don’t let those you don’t like try to push you where you don’t want to go. Especially if they say, “you could make so much more money doing that instead.” You control your career and your passion.
  • You are the CEO. Whether you run a company with 50 employees or have no staff, you are the CEO of a company. Let this lead you to feel comfortable making decisions about your career. Reward yourself knowing that you have achieved that title instead of expecting the reward to come in money. Have a sign made or place a trophy saying “World’s Greatest Boss” on your desk if needed. Let the knowledge of knowing you are making a difference be what drives you.
  • Find a new end goal. Formulate a new end goal that is not just about “being rich”. If you could have one goal to achieve during your time as an entrepreneur, what would it be? This might include having enough money to donate to certain charities, being able to attend sponsored events, or developing and opening a second business. If you see tangible goals, you will be able to see the steps needed to get there.

Related: Harnessing the Power of Positive Thinking to Grow Your Business

One of the keys to success as an entrepreneur is finding the right balance between doing what you love and growing your business. Successful entrepreneurs are those who can do both at the same time. They have a passion for their business that keeps them going while making sure they’re building something great that they can adapt to as their customers’ needs and demands change.

Remember that when money becomes a means to an end instead of the end itself, that’s when you find true happiness in your business.

Related: Why Making Money Shouldn’t Be Your Only Goal In Life

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