Do You Have The Mindset Of A Successful Entrepreneur?
There are patterns to the mind-set of a successful entrepreneur. Have a look at some of the big names today, like Bill Gates, Warren Buffet, Mark Zuckerberg, Gina Rinehart and Oprah Winfrey. Take a look at their business interests, and you’ll notice they are all very different. Yet taking a closer look at the personal temperament of each entrepreneur, you will begin to spot certain overlapping characteristics in each of their mind-sets. Here are seven behavioural and mind-set patterns which all of them share.
Having big goals and working towards them is a common pattern among successful entrepreneurs. They take their visions and dreams and create action plan goals to make it a reality. Entrepreneur Ben Nash definitely espouses this quality. He knew the goals he wanted to achieve with his company PCS Wireless when it was just an idea. Today it is a billion dollar company.
The best in the business will not settle for second best. The world is becoming increasingly more competitive and the best entrepreneurs stand out by expecting the best and working until that result is achieved. Steve Jobs distinctly embodied this trait; his obsessive eye for detail, and high expectations, saw Apple launch some of the most revolutionary technology products of our time, like the Macintosh Computer, the i-Pod and i-Phone.
Having a scheduled day, where your time is accounted for, is definitely a common feature among the best entrepreneurs. Owning a business can be hard work and sometimes you can commit too much time towards a business pursuit. Sitting down and allocating time beforehand will allow you to stay focused and slowly work through everything. Larry Page, Google’s co-founder and CEO is well known for being highly effective at managing his time.
A good entrepreneur is focused and able to target energy to keep things going. Nothing is more harmful to an entrepreneur’s chance of success, than losing focus on current and upcoming tasks. Remember the old cliché about quality being more important than quantity? Facebook founder Mark Zuckerberg did not spend years deciding what logo looked best, or designing the ultimate profile layout. He had an initial version and continued improving and developing it as he went.
A successful entrepreneur knows when it’s a good time to take a risk. They do their research and understand the marketplace that their business will be entering into. It is a measured, calculated risk which may fail, but is more likely to succeed. Dragon’s Den businessman Theo Paphitis is well known for doing exhaustive research, for instance he decided to purchase the football club Millwall when they were in administration in 1997, because his research suggested that he would become successful if they had a strong chairman (like himself). Paphitis’ calculated risk eventuated in the club going on to play in the 2004 FA Cup Final.
Going out to networking events and creating good working relationships is a key element to being a successful business person. After all, the people you know are the ones who are going to help you to achieve your dreams. You may not have all the knowledge or know how to get your idea off the ground, but your network certainly will. Author Timothy Ferriss is well known for networking with bloggers to promote his book The Four Hour Work Week, which went on to be a best seller.
Open To Learning
The best entrepreneurs are open to learning. They know that others have a lot of useful information to share and hire them to help educate them about the ins and outs of the industry. To use Mark Zuckerberg again, he brought Sheryl Sandberg to Facebook as the Chief Operating Officer to run the business side of Facebook. Zuckerberg accepted this was not his strong field and was open to learning from someone else. In the same way, a good entrepreneur is always eager to take new information on board and apply it, to produce more powerful results.
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