The professional world is more fast-paced and variable than ever before. That’s why in order to exceed your own expectations of what you’re capable of, you’ll need to upskill and cultivate an entrepreneurial mindset.
But what is an entrepreneurial mindset? How do you develop one? And just why does having one matter so much?
What is an entrepreneurial mindset?
An entrepreneurial mindset can be thought of as one which facilitates and supports your entrepreneurial ambitions. In other words, fostering an entrepreneurial frame of mind is going to help you become more successful with any professional or business goals you have in the future.
What makes an entrepreneurial mindset?
True entrepreneurial mindsets comprise several key attributes. These include:
- Comfort with discomfort. People with entrepreneurial mindsets can sit with anxiety, self-doubt and mistakes, and not let them derail their personal or professional plans. If you’re looking to be successful within the world of business, you need to be able to accept setbacks; to be able to acknowledge them, sit with them, and then move on from them.
- Playfulness. Ever heard the expression, “throw it at the wall and see what sticks”? You can’t be precious with your ideas if you want to create a truly entrepreneurial mindset. You need to understand that for every one good idea you have, there may well be ten that don’t hit the mark – and that’s OK.
- Being a team player. Many people think that to succeed in business you need to be ruthless and not be afraid to cut ties and make difficult decisions when needed. And whilst this may be true to an extent in some instances, every successful businessperson also relies on the team they direct (or are themselves part of). If you can’t welcome suggestions from others, listen to other perspectives, or appreciate the benefits of teamwork, then you’re going to struggle to become a successful entrepreneur.
Why do professionals need an entrepreneurial mindset?
Put simply, it will bring them greater success in their professional lives. The business world is as competitive as ever, and it takes more than just a fancy-looking website or some good word-of-mouth recommendations to stand out from the rest.
By equipping yourself with an entrepreneurial mindset, however, you instantly generate momentum and professional drive – the kind that rubs off on everyone else, too.
How to develop an entrepreneurial mindset (in 5 steps)
If an entrepreneurial mindset doesn’t come naturally to you, then don’t worry. By following these steps, you can start to develop one yourself:
1. Get learning:
Every successful entrepreneur started somewhere, and you’re no different. Upskill where you can (online courses can be great for this) and read the autobiographies of entrepreneurs you admire.
2. Make goals (and hold yourself accountable to them)
Rome wasn’t built in a day, and nor will your success as an entrepreneur be. Incremental growth is the way forward and setting yourself daily (achievable) goals is a great way of going about this.
By sticking to achieving your daily goals, you also instil greater self-discipline which is something that all good entrepreneurs need to possess.
3. Go and try things you’re uncomfortable with
If you’re not good at sitting with discomfort, then you need to get good at it. A good way to do this is by pushing yourself out of your comfort zone. This doesn’t need to be in a professional or business context either. It’s just about reframing your approach towards discomfort.
Afraid of heights? Go on a sky-dive. Dislike public speaking? Sign up for a local debating class. The more used to discomfort you become, the stronger your entrepreneurial mindset will become.
4. Learn to take risks
History’s best business owners and entrepreneurs haven’t been afraid to take risks when the moment requires it. That’s not to say you should act with reckless abandon, but you’ll struggle to make meaningful steps forward in your business career if you aren’t prepared to take a leap of faith every now and again.
Whatever decisions you take, the important thing is that you commit to them wholeheartedly. Anything less than that, and the outcome will invariably be less desirable than you’d envisaged.
5. Learn from others
This step is like step 1, except it is more personal than reading an autobiography. The flip side is that it’s usually more difficult to arrange to shadow someone for a day (or even speak to them) than it is to read a book.
However, if you can spend time in the flesh with other entrepreneurs you admire then you’ll get a better feel for the way they tick, as well as how they approach their business activity.
You can even spend some time surrounding entrepreneurs you’re perhaps less keen on to help guide you on what not to do, as this can be just as valuable.
Want to enrol in an entrepreneurial course?
If you’re ready to engage with your own entrepreneurial ambitions, then our Entrepreneurial Methods, Tools and Mindsets: from Problem to Solution short course on identifying opportunities as well as problem-solving could be just what you’re after.
Now you understand why developing an entrepreneurial mindset will enhance your professional prospects moving forward, why not upskill with a short course or taster course with UTS Open? View our full range of online courses, here.
