Entrepreneurial Mindset: 5 Reasons Why Business Needs An Entrepreneurial Mindset

The entrepreneurial mindset is defined as a certain way of thinking, in which people approach adversities, mistakes and even downtime in life. The entrepreneurial mindset enables people to overcome those setbacks, be decisive and take on responsibilities for any of causal outcomes. It is an inherent and constant need to improve your set of skills; learn from your experience and modify your course of actions.

The entrepreneurial mindset is important not only for businesses but also for any aspect of your life as it feeds toward to your future and enables to propel yourself forward continuously no matter what event may occur. It seems to dim at some points as you are kept to concern heavily on other objectives. However, by cultivating this mindset in your daily grind of activities, you are able to embrace challenges and experience growth.

Here are 5 reasons why business needs an entrepreneurial mindset:

Decisiveness

People make decisions in every minute of life, some of which seem to be easy as choosing what to eat for lunch when there are many options, some of which deem to contain a certain amount of difficulty as the decision may effect not only decision-maker but also involved individuals.

To succeed in any situation, you need to harness an ability to analyse the situation and the problem, gather and utilise all of relevant data to solve the problem and - the most important - make a decision confidently. Without an ability to make decisions, you are unable to solve any problem, to get rid of failures or even to catch your own opportunities of success.

Confidence

Please do not mix up confidence as "empty vessels make the most noise" as it is not an appropriate definition of confidence.

Confidence means feeling sure of yourself and your abilities — not in an arrogant way, but in a realistic, secure way. Confidence isn't about feeling superior to others. It's a quiet inner knowledge that you're capable.

- kidshealth.org

If you do not know what to do, confidence seems impossible. However, there are many people in real life that do not know what they are doing and what they should do to tackle with the situation at hand. Thus, it is advised that people with an entrepreneurial mindset need to get used to those feelings of unknowing. And, act confidently.

Fake it till you make it.

- Amy Cuddy

Accountability

The entrepreneurial mindset is also constituted of taking responsibility for everything you do and happen to you as they are all causal outcomes. Although you are not the right one to be blamed, holding yourself accountable for everything that are in your life is the first step in growing.

Accountability will enable you to take a complete control on happened events as well as free you from a burden of feelings that comes from passing the buck to others. Circumstances may not be your fault, yet you are accountable to what actions you did and are about to make.

Resilience

As same as getting used to unknowing actions to be made, an entrepreneurial mindset needs to get acquaintance to mistakes and failures. It is surely not a comfortable feeling and easy to accept at any means. However, as they are inevitable in your journey of growth, why don't you see being wrong with different lens?

Do not look back, remember the lessons.

Resilience is not only applied in enormous mistakes in work and life, but also an on-going process of correcting incrementally every day. As even a small decision can turn out wrong, there is no certainty in life ensuring you are flawless. Hence, it is useless to doubt yourself after making mistakes; necessary to take action confidently, and if it is wrong, correct it confidently.

Modesty

Being modest is free from arrogance. It is important in work and life as it offers greater opportunity to listen actively and learn from others. Modest people despite their successes will not actively take a spot to showcase what they have accomplished. Modest people despite their failures will actively learn from their experience and get smarter people to work on the problem, instead of running away or passing responsibilities on others.

Different from silence, modesty brings to the room a friendly, approachable and sharing atmosphere as it freely accepts opportunity to learn and nurture growth mindset within the organisation which they are in. An entrepreneurial mindset know that, within modesty, they are kept focused on the goals they have set.

How to develop an entrepreneurial mindset in yourself?

Stay tuned to my next article.