Building an entrepreneurial mindset to achieve business success

Are you embarking on an entrepreneurial journey?

It comes naturally to some and, some train themselves to develop an entrepreneurial mindset to achieve success. There is no easy or tested formula to acquire an entrepreneurial mindset, it comes with taking ownership, being responsible, and having a passion to build and innovate, and are different for every individual.

Whereas, coming to the business side of things, every business owner must develop an entrepreneurial mindset. An entrepreneurial mindset showcases more confidence and the ability to embrace risks & challenges to run a successful business. One can grow the positive attitude that is needed to be an entrepreneur – through planning, setting goals, and laying out micro-steps that will help lead the path.

There are a few reasons why an entrepreneurial mindset matters incredibly in today’s genre of businesses in India. Here are a few quick views on what a right entrepreneurial mindset should hold:

1. Goal-oriented & growth-oriented
2. Accustomed to learning new things & problem-solving capabilities
3. Passionate and focused – Focus over quality and not quantity
4. Innovative & self-motivated – Curating innovative approaches in every task at hand
5. Taking risks and facing failures that will lead to growth
6. Having a positive mindset is always the need of the hour to achieve success

As the saying goes by Gregory Dees, an American Scientist – “Entrepreneurs have a mindset that sees the possibilities rather than the problem created by change.” This thought continues to hold true for possessing an entrepreneurial mindset to drive business success.

Apart from having an entrepreneurial mindset, it is also imperative to continue and maintain the entrepreneurial spirit throughout the lifetime of any business. An entrepreneurial mindset will allow an individual to think out of the box, create larger-than-life ideas, action with rigor, and perceive the world differently, compared to any average worker, setting the foundation of success.

An entrepreneurial mindset cannot be developed overnight, it takes time and good guidance/mentorship to help one achieve a certain mindset suitable to drive business achievements. But by understanding a few key aspects that help build an entrepreneurial mindset one can think and act like an entrepreneur to achieve greater milestones in business.

Setting up a business and running it exceptionally well may be the most exciting, rewarding, and positive thing to do. However, the entrepreneurial journey will also be filled with challenges, self-doubt, and various issues. That’s normal. Understanding to embrace the entrepreneurial mindset and work on developing key characteristics aligned to success will help anyone build a thriving business and become an entrepreneur in the field of their choice.

 

[author title=”” image=”http://”]Authored by Shashi Jaligama, MD, GUS Education India[/author]

 

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members