The Entrepreneurial Mindset
Written by Terri Maxwell
Mindset is essential to reach any goal. A positive entrepreneurial mindset fuels success, and a negative mindset delays or even prevents it. This is true in all areas of life, most notably entrepreneurship.
Second, only to parenting, entrepreneurship is one of the toughest jobs undertaken.
So, why do approximately 12% (582+ million) of the world’s population choose this profession? (Global Entrepreneurship Monitor)
We each have our own reasons yet share a common belief. Because we CHOOSE to.
Whether it’s imagination that fuels us, or the desire to make the world better, every entrepreneur feels an inescapable sense that there is something we were born to do, even though we’re not always sure what it is, much less if we can actually do it.
And we frequently wonder if we can indeed do it. Yet, something inside pushes us past that intense fear and into the abyss of entrepreneurship.
Ironically, the stronger the feeling that we were born to do something, the more successful we are at building the mindset required for success as an entrepreneur.
There are three phases to building a powerful entrepreneurial mindset: Readiness, Awareness, and Development.
1) Mindset Readiness
When you have a goal, or there is something you want to do, the first step is making a decision. For an entrepreneur, that typically feels like a fearful jumping off point. We decide to go for it, despite anxiety and doubt. We take the leap.
Some of us prepare at length, and some of us just jump.
Even though we will never FEEL ready, we still take the leap. When we leap, we have achieved Mindset Readiness and the “real” work of building mindset begins, as we actually become aware of our thoughts and feelings, which is the second, and critically important phase.
2) Mindset Awareness
Once we’ve taken the leap of entrepreneurship, we realize just how unprepared we are for the realities of BEING an entrepreneur (no matter how much we prepared in advance).
This is when some very common fears (like rejection, self-worth, fear of failure) surface.
During this phase, awareness of our thoughts and feelings surface, and we begin to realize the power they have over us. What we do with this awareness is what makes (or breaks) entrepreneurial life.
It’s like we start to see the emotional rollercoaster we’re on, riding the highs and lows of our business like some amusement ride gone haywire. This realization expands our consciousness and opens the door for massive personal transformation.
Consciousness is becoming aware of what is happening, moment to moment, as well as our reaction to it. We become aware of what happens to us, as well as how we think and feel about what is happening.
As we become aware, we actually begin to separate from our thoughts and feelings, which catapults us into the third (and exciting!) phase of Mindset Development.
3) Mindset Development
This phase accentuates a knowing that we have the power to create whatever we want - in life and through our business.
Entrepreneurs have an inner voice that says, “I could build that,” or “There has to be a better way to… (insert anything).”
As we awaken to our inner power, we start to build a mindset muscle which powers success to new heights.
Entrepreneurs are both fearless and simultaneously afraid of our own imagination, frequently vacillating between these two extremes. When we develop our mindset, it’s almost like we awaken this champion fighter that’s been hidden away.
This stage feels like Carrie Underwood’s song The Champion...
I am invincible, unbreakable
They knock me down, I get up again
I am the champion, you're gon' know my name
How Do You Develop an Entrepreneurial Mindset?
First, you have to ensure you’ve moved through the Mindset Awareness phase, because it’s impossible to develop a positive Mindset if you have not distanced yourself from your defeating thoughts and emotions.
Once you have the separation from your thoughts and feelings, the hard part is done.
Mindset Development is simply about exercising the power to change your thoughts so you remain focused on what you want, versus what you fear.
Mindset Development is also about practicing the transmutation of your emotions from frustration, anger, or sadness TO joy, happiness, and gratitude.
The power to shift our thoughts and transmute our emotions accelerates success and elevates the very nature of our business.
If you’re ready to learn how to build a powerful entrepreneurial mindset join us for one of our upcoming free webinars.
About Terri Maxwell
With the soulfulness of Wayne Dyer and the entrepreneurial spirit of Richard Branson, Terri is a world-class business growth expert, social impact investor, and serial entrepreneur whose purpose is to inspire potential. With her own money, Terri built a portfolio of purposeful companies, Share On Purpose, Inc., and now invests in and creates mission-driven start-ups.
In a career that spans more than 25 years, Terri has launched, owned, sold, rebranded or turned around more than 40 companies. She is known for her game-changing business models and personal transformation frameworks.