Lesson 2: Channeling Your Inner Entrepreneur

What You’ll Learn: As you start thinking about a new business venture, it’s important to rediscover that inner entrepreneur that made you want to start a business in the first place.

Channeling Your Inner Entrepreneur

“The way to get started is to quit talking and begin doing.”

                                                                               Walt Disney


Entrepreneurs are a breed unto themselves. They have a very specific mindset – an entrepreneurial mindset, if you will – that forms their belief systems, guides their work and even the way they think.

They feel empowered by their ability to succeed and influence outcomes, are self-directed, future-focused and action-oriented. They tend to be resourceful and resilient, seeing adversity as an opportunity in disguise. Their curiosity, creativity and critical thinking cause them to make quantum leaps in the marketplace, and in the process, generate the vast majority of jobs and revenue in their communities and the country as a whole.

But entrepreneurs are not superhuman. If there were kryptonite to sap their energy and power, it is a sudden shift in the economy, an unexpected crisis or, more recently, a global pandemic and economic meltdown. To move forward, business owners and entrepreneurs need to appreciate the rare gift they have, the ability to build something out of nothing, not just once but multiple times.

The Entrepreneur In You

Rediscovering your inner entrepreneur begins with a quick review of the qualities that make them so rare in the business world:

Entrepreneurs don’t follow the crowd. They don’t wait for others to tell them what they do. Instead, they act on their gut and listen to that voice inside, even when others tell them it’s a fool’s errand to do so.

Entrepreneurs don’t blame others for their situation. They know that they alone have the power to change their condition and fortunes.

True entrepreneurs tend to believe that there is always an opportunity waiting just around the corner. They know they can create more money at any point in the future, and they don’t hoard knowledge or resources.

Wishes and dreams are for other people. Goals and plans are what are important to an entrepreneur. They are finite and executable and serve as guideposts to progress.

Entrepreneurs are fearless in their pursuit of an idea. To them, failure is just a stepping stone to another opportunity. They know that occasional failure is a natural part of the process of achieving success.

Entrepreneurs know that they can’t possibly know everything. They are lifetime students, learning something new at every opportunity and encounter. As entrepreneur Jim Rohn once said, “Formal education will make you a living; self-education will make you a fortune.”

Forward Thinking
Entrepreneurs don’t spend time thinking about the past. Their thoughts are focused on what comes next and know that big goals are achieved over the long term through hard work and patience.

Entrepreneurs think in terms of “we,” not “me.” They look for opportunities to collaborate and partner. Since they know they can’t possibly have all the answers, they find people that do.

Entrepreneurs know the odds, and yet they still take the leap. They aren’t afraid to take a calculated risk or pull rabbits out of hats when they are fresh out of rabbits and hats.

Entrepreneurs aren’t rooted in a single path. Entrepreneurs are nimble and ready to shift immediately when something doesn’t work. They don’t give up easily, but they do know when to pivot.

Problem Solvers
Entrepreneurs know that every problem has at least one solution. The solution may even lead to a new business idea or a way to get around a significant roadblock.

Setbacks motivate entrepreneurs. They have a goal, they can see it down the road, and they are going to achieve that goal come hell or high water. They are driven and won’t give up without a fight, especially when everything looks hopeless.

Entrepreneurs will study the data and listen to input, but they will make the tough call and stand by it at the end of the day. They are confident in their decision-making.