Want to do know how to build the mindset of an entrepreneur? These are tested and approved ways to upgrade your mindset to become successful.
This post is about building the mindset of an entrepreneur, which is something that anyone inspiring to become an entrepreneur should know about.
You must first understand that you will not be successful in business unless you build the right mindset: The Mindset of an Entrepreneur.
This concept is crucial in business because it is why most businesses fail after a few months.
The rules I am presenting to you will help you create, discover or grow your entrepreneur’s mindset.
These rules are applicable for new or soon-to-be business owners.
This post is all about building an entrepreneur mindset for your success (tested and recommended by me!). Anyone aspiring to become an entrepreneur must read this post.
Table of Content
- ♥ 5 RULES TO BUILD THE MINDSET OF AN ENTREPRENEUR ♥
- RULE NUMBER I: Pareto!
- RULE NUMBER 2: Discipline is an entrepreneur’s best friend!
- RULE NUMBER 3: The person you are now is making you fail
- RULE 4: Be accountable for whatever happens to you
- RULE 5: HAVE AN HEALTHIER LIFESTYLE
- BONUS: The importance of an entrepreneurial mindset
♥ 5 RULES TO BUILD THE MINDSET OF AN ENTREPRENEUR ♥
This is a set of rules you should never forget if you want to be a successful entrepreneur. These rules might take you to the next level.
RULE NUMBER I: Pareto!
So you probably heard of this rule back in school. The Pareto rule basically states that 80% of the results come from 20% of the work. This is really important to understand and believe if you want to build the mindset of an entrepreneur.
This rule also shows that if you are a perfectionist, you will not be a successful entrepreneur.
- Your Work
- Your Success
Let’s dig a little deeper!
The 80/20 rule works for almost anything in life! Let’s say that you work in the big corporate world. You think that you need to be a perfectionist, so you try to do everything that you have to do. You want to be promoted, so you try to do everything perfectly in detail.
On the other end, you have a coworker, who is not a perfectionist, not that much of a hard worker compared to you, but he always gets a lot of rewards. You wonder why? The 80 20 rule!
In other words, if you are being a perfectionist and doing 100% of the work, you might not get promoted. Billy, on the other end, will get promoted. He only does 20% of the work, but he does it better than a king. Just know that Billy will always win the competition.
This is why:
- Billy only does 20% of his tasks, but he does then darn well!
- You do 100% of the task, but you make mistakes.
- Billy does not waste time on anything that will not serve him or the company in the long term.
- Billy is specializing himself in a specific area. When people have a question, they ask him, not you. People are starting to notice. While you are doing a great job at everything, Billy is becoming an expert. He is one step ahead of you!
If you truly wish to become a new and successful entrepreneur and you are a perfectionist, the first thing to do is stop being a perfectionist!
Apply the 80/20 rule at work and to your business. This is going to change everything. I’m telling you! It’s a game-changer!
It is not about the quantity of work that you provide, it’s only about the quality! So if you sell a service, let’s say that you clean houses:
- You do not apply the 80 20 rule: You do 10 houses a day and charge $20.00 per house. At the end of that day, your mind and body are exhausted, you spent a lot of time driving, add miles for your company’s insurance, and you get paid $200. Because you did the job fast, the houses are clean, but they are not OH SO CLEAN! Most people do not call back for your services.
- You apply the 80 20 rule: Instead of doing 10 houses a day, you only do 2. The 2 houses are spotless, and the smell is just amazing. You also had time to build a relationship with the tenants. Because you only did 2 houses, you can talk to the tenants, do less driving, less stress, and provide a service of quality. People think the houses are so clean that they post on social media, they tell their friends, and they keep calling you back for more cleaning services. Since you provide such quality, you charge 100$ per house.
PEOPLE REMEMBER QUALITY AND EXPERTISE!!!
The mindset of an entrepreneur believes that the 80 20 rule is key. If you are a perfectionist, this will happen:
- You will not start your business.
- If somehow you do open a business, it will fail. You will give up on your business because everything will not always be perfect.
Instead of being a perfectionist, be ambitious!! Be unstoppable. Always think of the 80 20 rule.
The sad truth is that if you do 100% of your work perfectly, you will not stand a chance against people who spend 20% of their time on the most important tasks darn well. YOU NEED TO THINK LONG-TERM. If you do everything at 100%, you won’t last long term. It’s not human!
BONUS TIP: Report to your manager 20% of the things they want to hear! Usually, it should be tasks that are related to money. This shows that you are contributing to the growth of the company.
If you want to have the mindset of an entrepreneur, you have to live and breathe through the 80/20 rule. If you think like an entrepreneur, you will only do the tasks that will bring the most significant results.
You won’t be successful as an entrepreneur if you do not use the 80/20 rule. The crazy thing is that this rule works with almost everything in life! You must start using this rule in your life right now!
RULE NUMBER 2: Discipline is an entrepreneur’s best friend!
This one is going to be quick and straight to the point. Discipline makes people successful. Discipline is part of the mindset of an entrepreneur.
Successful entrepreneurs have discipline in their blood.
Structure is so important for an entrepreneur. When you start in the entrepreneurial world, you are on your own. You make all the decisions, and you do not have any authority figures above you.
No one is above you. Constantly keep your thoughts in check and on track. You will only be able to do this if you have discipline.
RULE NUMBER 3: The person you are now is making you fail
Become someone new. If you want to have the mindset of an entrepreneur, you must change the person you are currently.
Who you are now will not bring you to the top. This is easy to know because you are here to build an entrepreneurial mindset.
You actually have the best spot right now. You can make a choice to turn your life around and become successful, or you have the choice to act like you want to be an entrepreneur, stay in your comfort zone, and give up in a few months, weeks, or days.
By now, I hope you understand that everything is a question of time.
What is the difference right now between you and entrepreneurs:
- The amount of work
- The quality of work
- The structure
- The discipline
- Entrepreneurs do things that they do like, things they don’t want to do
- Entrepreneurs constantly learn new things
RULE 4: Be accountable for whatever happens to you
When someone is mean to you, it’s because you let them. When you are sad, it’s because you decide to be sad.
You have to understand that your decisions cause everything in your life.
You can make whatever you want of your life. Take charge! Everything you do in life is based on your decisions. If you don’t like where you are in life right now, it is not because of others, and it is because of you.
This is crucial to understand if you want to be a successful entrepreneur.
RULE 5: HAVE AN HEALTHIER LIFESTYLE
Having the mindset of an entrepreneur also means to be and stay healthy.
If an entrepreneur is sick, he will be tired, moody, and won’t perform well. Most successful entrepreneurs believe that your health is one of the most important aspects of success.
If you are healthy, you will accomplish more in less time. You will have fewer setbacks (like having to pay extra medical bills), and you’ll be way more confident.
Remember that you need to be a step ahead of your competition. So go to your annual doctor’s appointments. Go to the dentist, go to your gynecologist… At the end of the day, these expenses are cheaper than finding out that something is wrong with your health.
Think like an entrepreneur and be smarter than your competition.
Also, remember that one of the reasons you want to be an entrepreneur is that you want true freedom and you want to live your life to the fullest.
If you are sick, it will be difficult t live freely; you’ll have obligations such as medication. So start making the right choices and think like an entrepreneur.
BONUS: The importance of an entrepreneurial mindset
Your mindset is what is going to make the difference between you and your competition. Your mindset is going to determine whether you succeed or not. It will decide if you reach your goals or not.
AS A CONCLUSION, having the mindset of an entrepreneur is not something that you are born with. It is something that you have to learn and maintain day after day.
Keep working on your mindset, and don’t give up.