How to Cultivate an Entrepreneurial Mindset

The difference between business survival and success often comes down to one place – your mindset. Whether you are a budding entrepreneur or a seasoned executive, your actions are always motivated by your perspective. This ultimately affects your results and means what you can continue to bring to the table.

Business leaders need to confidently guide their organizations through challenges to inspire their teams to reach higher and drive their businesses forward. I’ve seen firsthand how the right idea can transform a business, and these five ways have helped my company reach important milestones in just one year:

Related: 5 Important Questions to Ask Yourself to Become a Master of Business Psychology

1. Expect the unexpected

Get used to things not going the way you would expect; it’s part of the journey. If your plan A fails, make sure you have 25 more.

There is no one-size-fits-all guide for your business, as every business and founder is different in how we approach growth and customer service. Embracing the unpredictable nature of business helps you stay humble and flexible, and flexibility allows you to pivot when needed and take advantage of unexpected opportunities.

2. Get outside early and often

Eliminate all possible tasks as quickly as possible. This approach will force you to create Standard Operating Procedures (SOPs) before you get too busy. If you don’t do this early, you’ll find scaling very difficult, which will prevent you from generating the cash needed to support a full-time team.

Consider outsourcing as a way to buy time. The main goal of entrepreneurs is to reinvest time in assets that promote early growth. Focus on the most important aspects of your business rather than mundane tasks.

Related: How Mindset Plays a Role in Your Entrepreneurial Success

3. Invest in a business coach

No matter where you are in your business cycle, you can’t afford not to have someone to help you deal with challenges and provide ideas and insights that will help you stay out of trouble. Find a coach at every level of your business.

It’s normal for you to grow your coach as your business grows, and you should expect this going forward. I once hired a very expensive sales coach. His answer on the one phone call was all I needed to boost my confidence​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​front. Although I didn’t find much value in his other advice, I decided to gamble on one confidence-boosting insight that I knew would come back to me tenfold.

Don’t be afraid to take what you need and move on. Don’t focus on an expense if it helped you get through a stressful situation or if it gave you an “aha moment.”

4. Get comfortable with social failure

The sooner you get comfortable with failing publicly, the sooner you can bounce back and learn from your mistakes. If you always pay attention to details or allow what others may see as your concern, you are putting yourself at risk.

I was able to overcome imposter syndrome through experience and the lessons I learned from my mistakes. The more information I gained, the clearer I became about my decisions. With each win, even if I failed at first, my confidence increased because it was never as bad as I thought it would be.

5. Surround yourself with like-minded people

They said, “You’re the five people you spend the most time with,” and I couldn’t agree more. Your network greatly shapes the way you think and see things.

Joining the Entrepreneurs’ Association (EO) has been one of the best decisions I’ve made so far. Since then, my calendar has been filled with professional development and personal growth activities, with tons of like-minded people always looking for me.

I’ve also joined a few great minds and got a lot of benefit from them. If you can’t afford high-ticket geniuses, you can always opt for affordable ones, but still, they’re a big investment. The people you sink money into exude a unique energy, and those are the people you want to be with when you decide to take yourself and your business to new heights.

Related: 11 Mindset Traits of Successful Entrepreneurs

Your mind is your most powerful business tool. Remember that for your business to be successful, it is not enough to simply reach your goals; you must spray them in water. This means constantly challenging the status quo, embracing failure as a learning opportunity and fostering a culture of innovation.

Achieving your goals is one thing, but showing up consistently and purposefully and consistently and exceeding expectations is another matter.