Entrepreneurs and founders must be steadfast believers and unerring in their opinions of their product or service. Here are some star characteristics that are often found in entrepreneurial minds.
While many might, in their more fanciful moments, wish to read minds, it is probably a good thing that we can’t peer into the thoughts of our friends, colleagues, and peers. But delving into one mindset, in particular, can be helpful for many, especially online business owners – the mind of an entrepreneur. A startup has to be constantly morphing, adapting, changing, and growing. How does one transform the seed of an idea into a successful and thriving online business? The answer lies in the entrepreneurial mindset.
Usually, a startup company is built around the vision or ideas of one or two individuals. These people put themselves on the front line and have to overcome many barriers and negativity to see their ideas come to life.
Steve Jobs once said, “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance”.
Entrepreneurs and founders must be steadfast believers and unerring in their opinions of their product or service.
This belief is essential in dealing with the fears and doubts that assail them in the course of their journey, where they have to constantly deal with the prospect of bankruptcy and the crippling loneliness that come with being a proprietor or partner in a fledgling business. Either out of a kind of natural selection or as a common personality trait amongst entrepreneurs, they are usually optimistic, open to new ideas, and have effervescent minds which constantly throw up new ideas and thoughts. Sleep, clearly, is a rare luxury for them. They have to be willing to roll up their sleeves and take on a variety of roles for their business in different situations – whether it is marketing, analytics, sales, recruitment, or finance. In between all these pressures and demands upon their times, entrepreneurs have to make several sacrifices in their personal life as well.
How do they manage to keep going in these challenging circumstances? Weaker wills and minds would have given up and failed. As the Apple advertising slogan identified, the important ingredient here is that they ‘Think Different’. Here are some star characteristics that are often found in entrepreneurial minds:
A large company can absorb errors and be ‘good enough’ but as a small startup you have to excel in all areas and one big mistake could prove fatal to your business. You need customers to partner up with you because you go the extra mile, but also because they share your vision and want to be a part of your project and community.
Share your enthusiasm for your online business and customers will want to buy into your ideas.
If you have an idea or notice a requirement in the market, then the first step is to innovate. Provide a solution to the problem and give customers what they need. But what comes next and how do you grow organically? Once you have a solution and are bringing it to market, you will need to expand your business to cater to the demand. This could mean building up your team, trying new technologies, and scaling up your operations. As you continue to taste success in the home market, you might set your sights on international horizons. Build a team that you can trust to be smart, dynamic, hardworking, and perceptive enough for you to rely on them to work in difficult environments and foreign cultures. This will be useful while making your company work and fit culturally with diverse markets and continuing to keep it connected with your brand and the values it stands for.
Is there an ideal plan to follow to create a startup business? Ideally, your plan should flow like this:
Pitfalls can often include:
Helpful hints to guide you:
Ultimately, the entrepreneurial mindset can be beneficial to us all – from businessmen to babysitters – but it’s especially useful as an online business owner. Seize the entrepreneurial mindset and let your creativity and imagination propel your business forward in the online marketplace.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)