One summer vacation, my nephew and I were walking around the Mohonk Mountain House in the Catskill Mountains of up state New York. Picture a Victorian castle resort overlooking a pristine lake surrounded by thousands of acres of unspoiled natural beauty.
He asked, "What does that sign say?"
"Employees Only", I reported.
"What does it mean?"
I told him, "An employee is someone who works for someone else."
"Are you an employee?", he asked.
"No. I work for myself. I would be considered an entrepreneur."
"What does it mean to be an entrepreneur?"
One online dictionary defines entrepreneur as: noun. a person who organizes and manages an enterprise, especially a business, usually with considerable initiative.
Here are 18 Mindsets Shared by Entrepreneurs
As you read this, you may find that you too have the mind of an entrepreneur.
1. Entrepreneurs take ownership from day one. They treat their business like it's theirs to lose (which of course, it is). “Freedom begins the moment you realize someone else has been writing your story and it's time you took the pen from his hand and started writing it yourself.” - Bill Moyers
2. Entrepreneurs will rise to the challenge of something that may be above their current skill set. They have a 'find a way' attitude.
3. Entrepreneurs will overcome financial setbacks by looking at the broader picture of what's to come. They don't cut costs if it will hurt their business. They are focused on the long term investment. They will reduce lifestyle costs for the time being to keep the ship moving at peak performance.
4. Entrepreneurs do not get a "case of the Monday's" (think 'Office Space'). They understand that passion doesn’t punch a time clock.
5. Entrepreneurs understand that some short term sacrifices may be needed to achieve their long term objectives. They will sacrifice time, a hobby, a weekend get away, etc if they know that the sacrifice will pay big dividends in the future. I'm not saying they will miss a family wedding. While they are protective of their time, a great entrepreneur will still hold family in the highest regard.
6. Entrepreneurs take responsibility for their business everyday. As a result of this mindset, they wisely choose their mentors and advisors.
7. Entrepreneurs take control vs. waiting to be told what to do. "Immense power is acquired by assuring yourself in your secret reveries that you were born to control affairs." - Andrew Carnegie
8. Entrepreneurs are always willing to roll up their sleeves to get things done. They will get their hands dirty, even if it's not "their job". They view every job as their job.
9. Entrepreneurs wish the days were longer, not shorter. Getting more done to move the business forward. “Do more than belong: participate. Do more than care: help. Do more than believe: practice. Do more than be fair: be kind. Do more than forgive: forget. Do more than dream: work.” - William Arthur Ward
10. Entrepreneurs are forever focused on ways to grow personally and professionally so they can elevate their capacity to get things done. They are able to find, attract, and retain talent allowing them to duplicate their efforts, even in their absence.
11. Entrepreneurs work hard and play harder. They don't need to Thank God It's Friday. They Thank God It's Everyday.
12. Entrepreneurs love meetings with a solid agenda. They view every event as an opportunity for growth.
13. Entrepreneurs know that they create their own pay increases. They understand that while an employee is at great risk having only one source of income, entrepreneurs are able to add an unlimited number of income generating resources to their revenue stream. Thus having greater financial security.
14. Entrepreneurs are focused on making a positive difference in the World. They know true growth comes down to the number of lives they impact and influence. The more they give, the more their business grows. “In a gentle way, you can shake the world.” - Mahatma Gandhi
15. Entrepreneurs work to create the future. They understand that the work they do today may not produce immediate results, however the payoff is inevitable. They are strong enough to delay gratification for the longterm gain.
16. Entrepreneurs do not need an annual performance review as they are constantly seeking ways to improve their performance.
17. Entrepreneurs prefer to be paid on their results, a true reflection of their effort, performance, and skill level. They would hate to be paid on number of hours worked in any given time frame. They understand that hours do not matter, results do. As a result, they have a far greater upside to their income. Check out Create a New Financial Paradigm for more on this.
Qaysar Bhatti of Tempest Elite Marketing says, "I think the reason myself and many business owners prefer to be paid on our results is due to the fact that to inherently run a business, there needs to be a sense of confidence in what the business represents and to what it can achieve. For enterprising people, commission allows for so much more to be achieved by putting in the extra effort, which in itself makes the business more profitable."
'Confidence in what the business represents' – I love that! What does your business represent? I get excited about Integrity, Balance, and Innovation. About helping others achieve goals and grow personally and professionally. About coming up with new and creative ways to inspire. About taking a student and guiding them through their 20s in a way that leads to a lifetime of abundance. Teaching them how to interview, write a resume, dress, act in the work place. How to grow, advance, save, and invest. How to be impressive at work. How to get and make the most out of their first real job.
18. Entrepreneurs set big goals.
Daymond John - a multimillionaire entrepreneur best known for his urban clothing brand FUBU and one of the investors on the fun and engaging reality show 'Shark Tank' says, "Five days a week, I read my goals before I go to sleep and when I wake up. There are 10 goals around health, family and business with expiration dates and I update them every six months. I believe the last thing I read at night will likely manifest when I'm sleeping. You become what you think about the most. It takes the same energy to think small as it does to think big. So dream big and think bigger."
What else screams Entrepreneur Mindset to you?
Want more on what Entrepreneurs love? Check out 16 Reasons to Sell this Summer and Why Introverts Should Sell.
by John Wasserman
Proceeds benefit Children's Dyslexia Centers