How to Master an Entrepreneurial Mindset
There's been a lot of talk about mindset lately, but what the heck is it and how can you use it to skyrocket your business to success?
Today, I’m quickly going to share what mindset is and, more importantly, how entrepreneurs can change their mindsets to change their businesses.
What is mindset? Change your mind, change your life.
Simply put, mindset is your way of thinking. Mindset is a set of assumptions, methods, or notions held by one or more people or groups of people.
Experts often talk about fixed mindset vs growth mindset. This is actually a conversation that is happening largely thanks to the work of Stanford psychologist, Carol Dweck, who wrote the book, Mindset: The New Psychology of Success.
Here’s a super quick look at fixed versus growth mindset, followed by simple advice to help YOU embrace a mindset that will help you succeed as an entrepreneur.
BUT FIRST: You are not your habits and circumstances. You CAN change those.
A fixed mindset leads you to believe that your qualities are inborn, fixed, and unchangeable. A growth mindset allows you to recognize that your capabilities can be developed and strengthened with effort.
Mindset impacts your motivation to learn, as well as your ability to embrace challenges and achieve your goals.
Is it time to change your mindset? If so, let’s go!
To change your mindset, start by changing how you label yourself.
It’s so easy to label ourselves. In fact, labeling often starts when we’re kids. If we’re lucky, our parents may tell us that we’re pretty, smart, and talented. For the less fortunate, our parents may call us careless, klutzy, worthless. Either way, oftentimes we accept these labels as truth.
In actuality, you are not any one thing. You’re a person who every morning wakes up as a blank slate with an opportunity to create the life that you want.
You may have been a certain way every day of your life and yet today, just like that, you can choose to be something different. And tomorrow, you can choose again.
The lesson: be careful how you talk to yourself. Be careful with the stories you tell yourself about who you are AND NEVER let other people tell you who you are.
Here are four types of mindsets that you — an entrepreneur who is succeeding or WILL SOON succeed —can embrace NOW to truly change what happens next.
Entrepreneurial Mindset #1: Confident Mindset
Years ago, I was embroiled in a bitter custody dispute thanks to a brutal divorce that included things like FALSE child abuse accusations. I can still vividly remember the day that the Department of Child Services, accompanied by a local sheriff, knocked on my door to tell me they would be removing my two sons. Any parent can probably empathize with me... this was the lowest day of my life. There is no feeling as terrifying as the utter despair a parent feels at the threat of losing a child.
THANKFULLY, my mindset saved me. And I mean, truly saved me… saved my life.
I had to dig deep down into that part of me that believed in my limitless potential, that believed in my ability to achieve anything, to climb out of any hole. The part of me that had faith that even in the face of intense fear and loss, I had the ability to choose love and to power forward. And so... I did.
It was not easy, but I had to choose a confident mindset. I had to move forward -- one foot in front of the other -- with faith that eventually my efforts would be rewarded. (And they were. I now have full custody of my children once more.)
In fact, shockingly, I grew stronger from this experience than I could ever have imagined. And trust me when I tell you, this nightmare was not resolved overnight.
Here’s the thing: research suggests that I’m not alone in coming out of a tough situation more competent and confident than ever before.
“The suffering that resulted from these horrible experiences was not an endpoint. Instead it acted as a catalyst, pushing these people to change for the better. In a 1996 paper Tedeschi and Calhoun coined the term post-traumatic growth to describe what they had found.
More broadly, Huang thinks that visualizing personal progress and valuing small accomplishments along the way could help to sustain those who might otherwise lose hope of ever returning to their normal everyday lives.” Source: Time Magazine.
And this takes us to another crucial type of entrepreneurial mindset...
Entrepreneurial Mindset #2: Resilience Mindset
Resilience is the capacity to recover quickly from difficulties. Also known as toughness.
Buckle up, entrepreneurs, because if you intend to start your own business and succeed at it, a resilience mindset is essential.
So how do you embrace a resilience mindset?
Accept and even embrace change. Accept that you do not control the world and cannot control your circumstances. Work hard on mastering your reaction to circumstances, instead.
Have faith. And if you aren’t in a place where you can find faith, it’s time to work on the third essential entrepreneurial mindset...
Entrepreneurial Mindset #3: Self-development Mindset
Make personal development a priority.
If there’s one thing life has taught me over and over again, it is that just when you think you’re really doing well, you still have so far to go. What a huge blessing and opportunity that is!
Carve time out each week to get better. To learn more. To expand your world.
Whether it’s through physical activity and achievements, like running races, personal development, like meditating or volunteering, or actual classes and courses such as workshops and seminars, don’t stop working on improving you.
And you don’t have to reinvent yourself today because the REAL WAY to make change is to start small but aim BIG. That brings us to...
Entrepreneurial Mindset #4: Big-picture Mindset
Have a big picture mindset, but start small.
Start small so you can finish big. One of the most achievable ways to shift mindsets and start reaching your goals is to start small. Even ridiculously small, if need be.
In business, you are going to run into a lot of people who will sway you off course. That’s why it’s essential that you keep the big picture in mind. What’s the end goal? What are you trying to make happen? Now, commit like crazy to taking steps, even if they’re tiny ones, to keep moving towards that goal.
For example, let’s say you’ve been dreaming of starting your own business but haven’t done so. Do you have a business name in mind? Have you looked into purchasing the domain or securing the social media handles? That could be one small step towards realizing your dream of being an entrepreneur.
Let’s say you’re a business owner who is in over her head and needs help. But you just can’t seem to get yourself to shell out the money for an assistant or support team member. You can start by hiring someone to work just a few hours a week, thereby freeing up some of your time and attracting more revenue.
What if you want to completely change careers but you haven’t been able to muster up the confidence to do so? With your new confident mindset, start small with a class or a workshop that will push you in the right direction. After one small step, you’ll typically find that it’s natural take another small step. After all, in the wise words of Lao Tzu, “the journey of 1000 miles begins with one step.”
Where are you headed today?
How is your mindset affecting your life? How is your mindset affecting your business? Have you developed your own tools to shift your mindset? Do tell! Share below.
