How to Change Your Entrepreneurial Mindset for Success

opinions expressed by entrepreneur Contributors are their own.

Entrepreneurship is a tough journey. It requires self-motivation and a willingness to take risks to succeed. Most people choose not to become an entrepreneur because they think it’s too risky. Yes, there will be some financial and market risk, and even the possibility that your idea will not materialize with technological changes. Can your business idea adapt? It’s scary for many would-be entrepreneurs.

There are many reasons why people choose to take the incredible leap of becoming an entrepreneur. As business owners we want to have more control over our time and the ways we work, to be able to change the world in some way, and for many of us the notion of financial freedom and possible riches can be a great motivator.

Almost 97% of business owners will tell you they have no plans to return to their traditional job, but are those who survive really motivated by money?

See also: 11 Mindsets of Successful Entrepreneurs

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

So many entrepreneurs and business owners start their journey with the idea of ​​getting rich and planning how to spend all the money that they expect to make. This is the wrong way to think about it – and can be detrimental to your ability to achieve financial freedom.

Even after I’d reached the point in my business where I felt comfortable putting things on “cruise control,” I still held on to the attitude of continuing to add value to my business so that my business could continue to add value to the community can offer. If I’m not providing value to the people in my community, then I’m not doing my job as an entrepreneur, a business owner, and a person.

But don’t I have to make money to run a successful business?

Yes, your business needs to make money to do it, but if that’s why you go for it, you won’t succeed. If you say, “How can I help the community, change things and make a difference?” then the money will be a by-product. Then success will be imminent.

Here’s what to keep in mind to steer yourself in the right direction when it comes to succeeding as an entrepreneur:

  • Put your success on the line first. Entrepreneurs who do this put more effort into their business without being distracted by the uncertainties of making money. As long as you have a vision for your business, there’s no need to worry about your bottom line.
  • Stop thinking that hard work makes more money. We’re used to being told that if we get the job done, we’ll be rewarded. If every hard worker got rich, there would be many more wealthy people. No, the truth is that in order to spend the moments saved doing what’s important to you, you need to be working smarter in less time.
  • Become the most valuable person in the room. I’m not talking about the dollar value. If you’re passionate about creating vegan sauces, you’ll become a sauce expert. If you’re looking to get into the real estate industry, learn everything there is to know. Don’t push yourself until you burn out from the pressure, but don’t half heart your passion so someone else can get there first. You want the people in your community to think, “Oh, yeah [insert your name here] is the best at what they do!”
  • Keep working if you have to. If you don’t already have the means to quit your day job, don’t. That doesn’t mean you aren’t doing enough to achieve your dream of becoming an entrepreneur. You can be an entrepreneur and still work for someone else. It’s not one or the other. If working a job helps pay the bills while you figure out the logistics, keep it until you work full-time.
  • stay in control The moment you let someone else tell you what to do with your career, you open up the possibility for someone else to hold the card to your success. You can have a mentor to guide you in the right direction, but don’t let those who don’t appreciate you try to motivate you to go somewhere you don’t want to go. Especially when they say, “You could make so much more money doing this instead.” You are in control of your career and your passion.
  • You are the CEO. Whether you run a company with 50 employees or no employees, you are the CEO of a company. Let yourself be driven by feeling comfortable when making decisions about your career. Reward yourself with the knowledge that you’ve achieved that title instead of waiting for the monetary reward to come. Have a poster made if needed, or put a trophy on your desk that says ‘World’s Greatest Boss’. Let the knowledge that you are making a difference be what drives you.
  • Think of a new end goal. Formulate a new end goal that isn’t just “be rich.” If you could have one goal in your time as an entrepreneur, what would it be? You may have enough left over to donate to certain charities, attend sponsored events, or expand and open a second business. When you see tangible goals, you can see the steps required to get there.

See also: Harness the power of positive thinking to grow your business

A key to success as an entrepreneur is finding the right balance between doing what you love and growing your business. Successful entrepreneurs are the ones who can do both at the same time. They have a passion for their business that drives them to keep going while ensuring they are building something great that they can adapt to as their clients’ needs and demands change.

Remember, when money becomes a means to an end rather than the end itself, true happiness will be found in your business.

See also: Why making money shouldn’t be your only goal in life

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