As an entrepreneur/mumpreneur dealing with the inevitable ups and downs can be challenging. Creating the right mindset and mental strength is of the utmost importance. Below I have put together top 10 key mindsets that will get you on your way to that success mindset you need to develop,
- Make A Clear Plan
Make sure you have taken the time to get CLEAR about your goals and the direction you are taking your business. Then actively break the large goal down into actionable steps that you can take to get you there. This will give you a practical frame work to work from. Poor clarity will lead to a poor plan which will lead to poor results.
If you don’t have a plan how do you know you are headed in the right direction. That would be like trying to navigate an unknown path by reading a map in the dark with no light on?
- Take Action
Learn to take action, all entrepreneurs are huge action takers. They know that if they want to get
somewhere with their business ‘Thinking’ about it will not get them there. They will make a plan and weigh up risks, however they will make decisions fast and then rapidly take action.
This is not the domain of the perfectionist, people that wait for everything to be PERFECT are serial procrastinators. There is no such moment where everything is 100% perfect. Don’t get stuck in analysis paralysis, and understand that mistakes are a part of taking action. Mistakes will happen, learn from them apply changes and carry on taking action.
Success comes to those who take rapid consistent action.
- Build A Community – Success is Not Achieved Alone
A mistake often made in the early years of starting out as an entrepreneur/mumpreneur is doing everything alone. Even if you are set up as a sole trader/proprietor and have no staff, you should be building and creating your community.
Developing relationships as a mentee with your mentors and eventually perhaps as a mentor with your own mentees. Start identifying advisors that you trust, and peers that you can connect with and are open to sharing their knowledge with you.
Network with other entrepreneurs and connect, share ideas and knowledge with them. So, you are building a community of people who are successful, have an entrepreneurial mindset. This is essential for keeping a positive and inspired mindset.
- Avoid Distraction By Shiny Objects
This was something that I heard a lot as I was starting out in business. I thought initially it was don’t get distracted by ‘things’ expensive toys that are not essential. I.E don’t get sucked into buying ‘STUFF’ that instantly loose its value once you take it home like; new cars, flat screen tv’s, tech gadgets, etc. Focus instead on building assets (items that hold or increase in value).
However, I have come to realise it is much more than just buying ‘stuff’. As entrepreneurs, we are switched on to looking at good opportunities and can easily get distracted with new ideas (our own or others), other business opportunities, etc. This distraction combined with the ability to make rapid decisions and take action can lead to our own self-destruction.
Trying to juggle to many businesses and opportunities, results in split focus and ultimately not being able to spend enough time on anything to get projects off the ground.
KEY – Focus on one thing at a time until it is successful. Don’t allow yourself to get distracted by all the other opportunities out there until you have made the main focus successful and you have a strong plan in place to maintain and grow its success, at this point you then have time and focus to bring something else into the mix.
- Measure and Validate Everything
Always ensure that if you ever feel like you are making an assumption, take a step back and put some effort into validating if that assumption is correct or not. Never proceed in business based on assumptions.
Key Performance Indicators (KPI’s) are an entrepreneurs best friend. Always make sure your goals are measurable and measure everything!! It doesn’t mean you need to know everything before you move forward. What you DO need to know is what to measure in order to see if it is performing on target or not. In order to make decisions on what to change to improve results. If you are not measuring you are guessing and making assumptions and those could be wrong and could be a very costly mistake.
Know your strengths and play to them and also know the areas you are not strong in or have no knowledge of. Learn early to delegate tasks to others, in areas you are not strong. Do not ‘try to do everything yourself’ if you need a logo or video editing, but don’t have a clue about either. Don’t waste precious time by learning how. Simply delegate it to someone who does have the expertise either in house or outsource it.
It is about knowing when it is best to outsource and hand it over to people that are more knowledgeable than you in an area. Even though you may have many varied skills, there is always someone that will complete a task in half the time and with less stress.
Focus on the important tasks such as revenue generating activities and creating content and delegate the less important non-revenue generating activities.
- Look at The Big Picture as Well as The Detail
Like birds of prey that are able to see the wider view as well as zooming into the detail to spot their prey. Entrepreneurs are able to schedule and process for big long term and strategic thinking. They can see the bigger picture for the business as well as what is necessary in the short term.
This is important because if you are engrossed in the minute detail of the day to day it is easy to steer off course for the wider and bigger vision for the business. It enables an overview of where you are with regards to where you want to be and to be able to ‘connect the dots where you didn’t once see them’.
- Embrace Failure
The best quote that I found that highlights this way of thinking is…
‘I have not failed. I’ve just found 10,000 ways that won’t work.’ Thomas Edison. It was about the light bulb.
Part of being an entrepreneur is realising that mistakes and failure is part of the journey and there will be a lot of them. It is important that you realise that this is a good thing. If you fail it just means you have found a way that will not work. It is to then be curious as to why it did not work and then improve on it or change it until it does work.
As a society, we often see failure as a bad thing and something to be avoided. When the reality is quite the opposite. All entrepreneurs know that there will be times when things may not work, they don’t however loose the vision of what they are creating and will relentlessly keep going towards the bigger picture.
Most people see the end result, the success, however every success story is fraught with a lot of mistakes and failures along the way.
- Become A Life Time Learner But Not A Learner Junkie
It is important to have a limitless thirst for knowledge however this needs to be a guided one. The right knowledge can open doors and tap into inspiration. However, knowledge is only power if you are actively using it.
Don’t fall into the traps of being a knowledge junkie where you sign up to training after training and read book after book without applying any of the knowledge gained. If you are learning for learnings sake and not applying that knowledge it is simply like stuffing your brain with food that then sits and eventually rots away into nothing.
The mind is like a muscle and if you actively exercise then the muscle gets stronger. However, if you stop exercising or start working on a different muscle group and no longer use the muscles you had built up over time they will waste away.
Think of learning as building up the mental muscle and applying the knowledge as exercise that maintains the muscle. It is important that knowledge does not ‘sit’ unused. Teaching can also be a great way to exercise the mental muscle, when you learn something valuable you find a way of teaching others what you have learnt.
Such as blogging about it, creating videos, applying accumulated knowledge in your own training products, etc.
Become an avid learner that then applies knowledge not a junkie that consumes it endlessly and does nothing with it.
It is important as an entrepreneur to always listen. It can be easy to think you hear what your customers/clients (current customers, former customers, partners, staff, and others connected to the business) are saying, however, be a careful listener. So, you are clear that you have heard them correctly and not made an assumption on what you ‘think’ you heard. Use all of the information gained by ‘listening actively’ to adapt and grow the business with this ‘real-world’ knowledge that you are collecting.
If you know what people want, what their needs are, what their concerns and pain points are. You can then deliver the content and value that will keep them coming back to you for more because you understand, you provide value and you care!
If you have an important mindset point I have not included please comment below and I will add it in.
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