The entrepreneurial spirit and mindset

THE ENTREPRENEURIAL MINDSET IS ONE OF HUNGER, DARING AND PERSEVERANCE.

You have a brilliant idea that you know will be the next “big thing”. So you register an LLC, order high-end business cards, design the perfect website. You even write a 50-page business plan. But months and months go by and you still haven’t earned your first dollar.

Sound familiar?

It’s the story of thousands of aspiring entrepreneurs who never really put their ideas into practice and therefore never get further than their starting point. In fact, all they get is the title: “wantrapreneur”.

WHAT IS A WANTRAPRENEUR?

A wantrapreneur is a person who spends his time and money on everything but creating a real business. It focuses on the external factors – the business cards, the logo, the website – which may be necessary elements of the business down the road, but none of which will make the first sale.

Real entrepreneurs, on the other hand, care about one thing: creating a product or service that people want.

That doesn’t mean they won’t build a website or care about marketing, but they don’t care. Entrepreneurship is concerned with addressing pain points, providing real value propositions to customers, and creating a scalable, profitable, and sustainable model.

WHAT IS THE ENTREPRENEURIAL SPIRIT?

The entrepreneurial mindset is about turning obstacles into opportunities. Entrepreneurs see setbacks and mistakes as challenges to improve their skills and do better next time. They know that the end justifies the means and they are willing to go ahead and put all their efforts into their business without fear of criticism or failure.

THE ENTREPRENEURIAL SPIRIT FOCUSES ON PROGRESS

Wantrapreneurs often mistakenly think that just thinking about an idea means they are doing something constructive about it. But ruminating on a to-do list doesn’t move you toward your goal. The same is true if you read books, learn the lingo, and tell everyone and their mother about your “business.”

WHAT IS THE ENTREPRENEURIAL SPIRIT?

THE ENTREPRENEURIAL SPIRIT DOES NOT LIVE IN FEAR

Steve Jobs, Walt Disney, Oprah, Tim Ferriss: if you look at most of the successful people in the world, they failed at some point – and you will too if you want to grow a business. Failure is an inevitable part of the learning curve. The question is what you will do with this reality.

Entrepreneurs respond to risk in a radically different way than those who never get a business off the ground. Entrepreneurs do not live their lives in fear. Although they may have concerns or anxieties about what they are doing, they do not let this influence their actions and behaviors. They don’t make excuses – no funding, no resources, too hard to break into – because they know that if they don’t try, they’ve already failed.

THE ENTREPRENEURIAL SPIRIT IS RESOURCEFUL

Those with an entrepreneurial spirit know that they will never have all the trump cards – and they don’t care. They understand that the perfect day when the timing is right, the economy is ideal and the market is ready for their idea will never come. Instead of focusing on checking off all the boxes, they are taking massive action.

Successful entrepreneurs don’t dwell on the details and don’t worry about them. They adjust and adapt to the big picture. They don’t wait for funding or additional resources to get started and take action. They will start their business by finding ways to get the funds they need. They are scathing and use their ingenuity to find a creative solution to any obstacle that comes their way. For those with an entrepreneurial spirit, there are no dead ends; there are only new opportunities for growth.

How to develop the entrepreneurial spirit

If any of the above sounds familiar, you probably have the entrepreneurial spirit to succeed. If not, don’t give up hope. Entrepreneurs are not always born that way. Some people develop an entrepreneurial spirit after experiencing setbacks or committing to learning more about themselves and the changes they need to make to live an extraordinary life.

Ask yourself: Are you ready to make progress a part of your daily ritual?

Does the idea of never trying scare you more than the possibility of failing? Is your “why” strong enough to give you the hunger, motivation, and dedication to meet the challenges?

If the answer is yes, you are already on the right track to developing an entrepreneurial spirit. Make the decision to stop focusing on the details and start building your business. Commit to what matters. Commit to overcoming challenges and finding every possible way to learn from your failures.

Entrepreneurship is not for the weak or those with a “good idea”. It is for those who have no choice but to start their own business, because of their passion, their drive and their belief that a life without effort is a life not lived.

Some books to help you build your mindset and develop your entrepreneurial spirit

▪The Power of your subconscious mind – Joseph Murphy

▪Believe in Yourself – Joseph Murphy

▪Reflect and get rich – Napoleon Hill

▪Rich Father and Poor Father – Robert T. Kiyosaki

▪The richest man in Babylon – George S. Clason