Being an entrepreneur, or having an entrepreneurial mindset, is often mistaken as someone who goes out in business for themselves and refuses to work for anyone. On the contrary, being a good entrepreneur consists of a multifaceted personality type that allows you to seek out goals, problems, customers, and deliver services that produce value to your market.
Adapting some of the aspects that entrepreneurs use on a daily basis can help you rather you’re in sales, working for someone else, trying to lead a healthier life, or maintain a good relationship with a loved one. Entrepreneurs are the individuals that rarely take things at face value and always look for a means to improve or enhance something for a greater good. If you can adopt these 5 entrepreneurial principles, your career and personal life will accelerate faster than you can imagine.
- Getting Paid What You’re Worth
Wouldn’t we all like to be compensated in direct proportion to the effort we output on a daily basis? Unfortunately, you’re rarely paid what you deserve and the best product, service, or employee, is usually not the one on the top of the financial food chain. The type of mindset you need to adopt is one of being an over-producer and someone who has the most attention put on your products or services. When you set out to create a small business or service, create action and noise louder than the competition and put your customer first. But once you have that attention, you need to over-produce and give more than expected. This leads into another commonly misunderstood aspect of business: hours you spent working.
Many people will boast about how many hours they’re working in any given week. “I work 80 hours a week, minimum!” Or, they’ll say something like: “I work so much that I literally sleep under the desk in my office.”
Let’s clear the air here — being in the office does not equate to being productive and solving issues within your industry. When you’re in the office, zone into your work, cut away distractions, minimize time spent socializing at the water cooler, and take shorter lunch breaks. Similarly, if you’re running your own business you understand the value of time and how critical it is to success. Cut away the endless emails and set up designated times in which to contact your customers or coworkers. Simply make a notification that says “I will be in correspondence from ___ to ___. If you have an emergency after this time please text me.”
This puts out a signal to your contacts that your time is important and you’re using that area to create better products and services in which to service them. This also puts up a filter of what is really important and what issues can wait until the next day.
- Cut The Learning Curve In Half
Another great skill to extract from the entrepreneurial mind is the ability to cut the learning time in half of any given task. Entrepreneurs are notorious for crashing and burning, but also finding extreme success in short periods of time. How can they attain so much market share and revenue in such a small time frame?
The main reason behind this great success is that entrepreneurs have learned how to fail quickly and objectively critique why they’ve failed. Whatever task you’re embarking on in your career, dedicate your very being to that action and, if you should fail, make sure to do it quickly. Don’t make your failure a long and drawn out period of pain and anguish. Cut the ties quickly, extract the wisdom you’ve acquired from your failure, and start your next endeavor with the new-found knowledge.
The most successful business owners, CEO’s, and entrepreneurs on the planet were people who learned how to fail elegantly and harness the critical lessons learned in the downfall.
- Networking On Steroids
Entrepreneurs are often likened to a group of people who all want you to succeed and are willing to help you get ahead. We all gather at the bar in the late hours of the night to hear about the success and failures of our colleagues over a few beers. We laugh at our mistakes and share a moment for those that have attained the end goal – freedom. There is a mutual respect and admiration for our fellow entrepreneur and we praise the scars and bruises from our battles and losses in the marketplace.
No, this isn’t some kind of love-bombing cult mentality but rather an understanding of the importance of helping others succeed. When you help other people achieve success you, in turn, achieve success for yourself. The entrepreneurial world takes old school networking and injects it with performance enhancing drugs. No longer do you have to sip cocktails at fancy dinner parties in order to have a conversation with a billionaire – it’s only an email away!
This kind of thinking sets up a perfect environment for networking with the pioneers and industry leaders within your market. Reach out to the people who are currently in the position you want to be and ask them for advice. Business owners in today’s day and age are more transparent in their road to success and are willing to give advice to anyone dedicated to learn and apply that knowledge.
The next time you think of forfeiting, think of the top 5% of the people who are in your market – financially and market share wise. Email, call, Tweet, and Facebook message these people on a regular basis. Provide insight and value to them in return for advice or guidance through your troubles. Differentiate yourself from the sea of people who ask these successful people for favors and give nothing in return. Give, give, give, and give some more and you increase your odds of receiving what you’re looking for.
- Your Efforts Produce Tangible Results
The beauty of being an entrepreneur is that your efforts and actions produce results in real time and indicate what you’re doing right, and what you’re doing wrong. Working in a corporate environment often does not give you the instant feedback that is needed in order to help you succeed and move forward with a positive outlook.
Humans are creatures of habit and need rewards to signify that we’re doing something right. In the entrepreneurial world, if you work 16 hours a day creating content for your website, your increase (or decrease) in traffic is a direct indicator of your actions. This allows you to tweak and modify what is working, and eliminate what doesn’t serve the greater purpose of your business.
Being an entrepreneur means that your compensation is in direct proportion to the problems you can solve and the services you can provide. Many 9 to 5 workers are discouraged in the realization that their efforts, rather they’re good or bad, are not reflected in their paycheck or feedback. In the entrepreneurial world, you live and die by the feedback and response you gather from your efforts. This also relates to the 2nd topic we discussed in that it cuts the learning time in half. It let’s you know what works and doesn’t work in a shorter span of time.
If you are working in a corporate or 9 to 5 office environment, you need to seek out regular critiques of your work. Approach the management staff or your boss and ask them for a daily, weekly or monthly breakdowns of your actions and performance. This will allow you to gain further insight to how your actions stack up in the market place and encourage you to do well at your company. This could lead to quicker promotions and increased pay.
- It Changes You As A Person
Being an entrepreneur is the new ‘sexy’ career path to take but people often get caught up in the glory and don’t understand the pain associated with this field. The failures and lows that you experience as an entrepreneur often shape and mold you as a person and give you more clarity in life.
The people who have attained great success in the industry are often the people who will listen a bit more intently, help you more than you would have imagined, and give you words of wisdom when you need it most. This is not to say that all entrepreneurs are angels or holy men, but rather to emphasize the kind of personality that is needed in order to fight through all of these losing battles and come out the victor on the other side.
Rather you’re starting your own business, or you’re working in an office environment, using these principles from entrepreneurial endeavors will help you succeed faster. Use your mental capacities to look for another way to progress forward through your career and help others succeed.
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