Written by: Lilian Mensah
Entrepreneurship is an essential life skill that is not limited only to those who start organizations or ventures. The acquisition of this skill can somewhat be likened to the process of learning how to ride a bicycle. Of course you will fall off multiple times while learning, at times you get hurt or even want to quit. The proper mindset will only encourage you to go through the learning process and not give up. Learning the basic principles of entrepreneurship and adapting the proper mindset can transform one into a successful entrepreneur.
Who is an Entrepreneur and what is an Entrepreneurial Mindset?
An entrepreneur is a problem seeker, a problem solver, and an innovator. They add value, whether by creating something themselves or working for a company. An entrepreneur’s way of thinking that enables them to overcome challenges, be decisive, and accept responsibility for their outcomes is termed as Entrepreneurial mindset. It is therefore important to constantly improve your skills, learn from your mistakes, and take continuous action on your ideas as an entrepreneur.
Entrepreneurship is not merely starting a new venture, it is a mindset being other-focused and understanding that one creates value by looking to solve problems for others.
How can one develop an entrepreneurial mindset?
Having an entrepreneurial mindset may determine success or failure. To develop an entrepreneurial mindset, one must:
- Set clear goals.
Setting a goal, writing it down, mentioning it to friends and family who will hold you accountable can subtly influence aspiring entrepreneurs to work towards that goal bit by bit each day. For example, if you want to venture into furniture making you must be clear in mind as to what type of furniture you’d be working on, is there a ready market for such furniture? - Practice being decisive: Making decisions that are well-informed and time-sensitive is a crucial part of being a successful entrepreneur. Decisive leaders or entrepreneurs seek out the appropriate information they need to make good decisions.
- Redefine failure: Failing is just knowledge-gathering. Don’t be afraid to make mistakes. Learning from your mistakes is about more than just thinking about what went wrong, rethink your approach to your goal when you begin again.
- Face your fears: The fear of failure is one of the most common biggest fear that hold people back from living their best life. Whether you want to work with a professional or go at it alone, you can begin by slowly exposing yourself to your fears. For example, if you have a fear of public speaking, start small by practicing in front of family and friends.
- Remain curious: Curious people always ask questions and search for answers. Curiosity makes your mind active instead of passive. Curious entrepreneurs’ minds are always active.
Technology provides access to a variety of educational resources that inspire creativity, critical thinking, communication, and collaboration.
The role of technology to enable businesses to evolve quickly has been profound during this COVID-19 season. It has reshaped businesses to better meet the needs of the consumer, and ultimately, the communities they serve.
Entrepreneurs must therefore take the opportunity to expand their knowledge in the field of technology and take advantage all the benefits it comes with.