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“Look Before You Leap” Preview 3

Chapter Two Snippet

SHARPENING YOUR MINDSET FOR SUCCESS

THE MINDSET NEEDED FOR ENTREPRENEURSHIP

It is not an easy one, but if you must know, it involves hard work, headaches, failures, risk-taking, undiluted motivation, discipline, positivity in the face of adversity, focus, vision, a great community of supportive people, strategic planning, your value recognition and many more skills you will pick up on your way.

  1. Risk Taking:
  2. Mark Twain said, “Twenty years from now you will be more disappointed by the things you did not do than by the ones you did.” We are all risk-takers to various degrees. What you can afford to lose can be exchanged for a higher and uncertain benefit.

    As a new business owner, you will make mistakes, but take every failure as a lesson. In a game of chess, the sacrificial pawn is essential to gain victory over adversaries. You take a risk every day by crossing the road or driving your car, and you take a risk by simply trusting people. The importance of risk-taking cannot be overemphasized. One thing is certain: You will take risks if you wish to be a successful business owner.

  3. Unparalleled Discipline and Motivation
  4. Discipline is extremely important to work smartly and accomplish stipulated goals. Your time management, financial management, decision-making, asset management, problem-solving skills, and focus should not be questioned. Through continuous self-building and development and learning through experience, you would accumulate enough knowledge to overcome the challenges.

  5. Research Skills
  6. Research has been underrated; knowledge is power, power is time, and time is money. It simply means knowledge is money, learn fast, do what you can, and learn on the job. Entrepreneurs must learn every important detail of their business, acquire different skills, develop that skill of research, and have a renewed perspective of their business environment.

  7. Work Smart Not Hard
  8. The “Work smart, not hard” phase can be easily misunderstood. It simply means knowing your strengths and weaknesses and carefully outlining what you can and cannot do. Forcing yourself to go several hours to complete a job when there are easier ways to accomplish it is just not smart. Your time is money, and you should find better ways to utilize it. Hire experts instead of unskilled workers, have effective time management skills, and physical wellbeing is also of utmost importance.

  9. A Great Community of Supportive Friends
  10. Starting a business from scratch is very rewarding and exhilarating but also exhausting emotionally, physically, and psychologically. Here, you begin to doubt your strengths and question your weaknesses. You need a support group to cheer you on, to de-stress, and to make you understand that failure is part of life, but giving up should not be an option. Friends are also a very common source of business funding and are often of great help in creating and promoting a business.

  11. Value Recognition
  12. Knowing your worth will increase your self-esteem and, in turn, promote the business. Your business is the reflection of yourself; what you do and how you do it depends on your view of life, your strengths, weaknesses, desires, and beliefs.

  13. Strategic Planning
  14. Planning is very crucial. It is a skill every entrepreneur needs to avoid futuristic challenges, set goals and objectives, and guide their day-to-day business life.

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