Mindset is probably the major determinant of
success in pretty much every walk of life. In other
words, the thinking patterns you habitually adopt
largely govern the results you achieve.
But different circumstances and situations require
different mindsets, something that anyone looking
to leave paid employment and strike out on their
own, must be aware of. Unfortunately, not all
would-be entrepreneurs understand the dramatic
mindset shifts required, without which business
success is unlikely.
Related: Shift Your Mindset, Save Your Business
So how, as a one-time employee, will you have to
think differently to succeed?
1. You’re responsible for all decisions - good and
bad. Entrepreneurs have an incredible opportunity
to create something from nothing, in a way that’s
not possible working for someone else. But this
means making big decisions about what must be
done, when and how. You can’t wait for things to
happen, or for someone to tell you what to do, you
must make them happen. Successful
entrepreneurs also understand that opportunities
may be short-lived, and so develop a sense of
urgency that helps them achieve their goals.
2. You need to hold both short and long-term
visions simultaneously. Work for others and you
are mainly responsible for ensuring that what
needs to be done now, is done. As an
entrepreneur, you have to project your mind
forward, thinking about the potential pitfalls and
opportunities that lie around the corner, and
making decisions based on uncertainty. This
requires you to come to terms with the fact that
what you do, or don't do, today, will have an
impact on your business three months, even five
years down the line.
3. Feeling uncomfortable is your new ‘comfort
zone.’ As an employee, you’re used to thinking
‘inside the box’ rather than outside it. As an
entrepreneur, there is no box. You see what
others don’t, test new ideas, seize new territory,
take risks. This requires courage, a thick skin and
the ability to keep going despite rejection and
skepticism.
4. Learning is a continuous journey. As an
employee, you have a job description, requiring a
specific skill-set. Being an entrepreneur involves
learning many new skills, unless you have the
funds to outsource what you're not good at or
don't want to do. That could be learning to set up
a spreadsheet, getting investors on board,
marketing your ideas, crafting your perfect pitch,
or using unfamiliar technology. What needs to be
done, has to be done - there is no room for
excuses.
Related: Finding Growth By Changing Your
Mindset
5. Numbers don’t lie. Where numbers are
concerned, it’s enough for most employees to
know what’s coming in and what’s going out. As
an entrepreneur, you’d better learn to love
numbers fast, because your cash flow is what will
keep you in – or out of – business. Ultimately,
it’s your sales, costs, profit and loss that will
either give you sleepless nights or an enviable
lifestyle. But without the guiding light of numbers,
your business will be continually heading for the
rocks.
6. Love your business, but be objective. As an
employee, you can go on doing something you
dislike just for the salary. As an entrepreneur, you
will need to love your business because of the
effort and long hours required. But you mustn’t
fall into the trap of thinking and acting like an
employee in your own company, working ‘in’
rather than ‘on’ the business, a ‘technician’ rather
than the person who steers it forward.
7. Enjoy breaking rules. As an employee, breaking
the rules could mean dismissal. Entrepreneurs on
the other hand, aren’t interested in the status quo
– they’re always looking for ways to do things
differently. That means acquiring a global
perspective, always peering over the horizon, or
at least towards it, to where the next big thing is
waiting.
8. Time isn’t linear. As an employee, you have a
timetable to work to. As an entrepreneur, while
you might not be tied to a desk or computer 24/7,
you will always be thinking about your business,
what it’s doing well and what it could be doing
better. There will be no respite – you will live and
breathe it.
9. Start now. Most people under-estimate the
time it takes to make the transition to
entrepreneur, so it’s sensible to start shifting your
mindset while you’re still employed, perhaps even
setting up a business to run alongside. This could
give you the opportunity to develop skills and
build experience while still enjoying the safety-
net of a salary, something that at some point you
will almost certainly need to give up if you want to
grow your business.
So, employee or entrepreneur? Is it time to
switch? The choice is yours.
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