Last updated on November 27th, 2017 at 11:04 pm -
Entrepreneurs are some of the richest people in America. To succeed in wealth creation through entrepreneurship it requires values and character. Alternatively, you need to understand what is entrepreneurial mindset. You need to be in line with how successful entrepreneurs think. Their attitude towards their business environment and how they influence it rather than adapting to its changes. Having the entrepreneurial spirit uniquely defines you as an entrepreneur, giving you the winning personality. This spirit will elevate you to that level where you can easily exhibit the characteristics that define an entrepreneur.
Traits of an Entrepreneurial Spirit
Here are the must-have aspects of an entrepreneurial spirit:
Thoughtful – An entrepreneurial spirit can simply be defined as the mindset angled towards changing than being changed. As an entrepreneur, endlessly thinking of better processes to improve your business should define you. Entrepreneurial excellence involves having a long-term vision of the start-up company and working your way to it. This entails repeatedly crafting techniques of growing your business to the next level. In case you did not know, it is only through thinking that you will become a greater innovator.
A thinking entrepreneurial spirit involves you coming up with a strategy to better your organization’s productivity and profitability. Think of how you will boost sales. Do you do a promotion or go online? Is that packaging technology raising or cheapening your production costs? Should you globalize, increase your market size or aggressively sell in your market? On production, do you create more brands of your product to satisfy the differing needs of your customers?
All these questions should shape your thoughts. Use this set of questions to know the better practices and avenues that you could be overlooking. Average entrepreneurs rarely do this. A thinking entrepreneurial spirit is the billion-dollar personality a young entrepreneur should have to grow expansively like Silicon Valley start-up. Simply put, if your organization has set off, begin thinking critically on the opportunities and solutions to eminent problems, and never stop.
Thirsty – An entrepreneurial spirit is a thirsty one. Entrepreneurs like Jack Ma and Steve Jobs are the embodiment of a thirsty spirit. You got to want it more than any other person. Believe that you are better informed and smarter in producing or giving that service than anyone else. That thirst to succeed is what an entrepreneurial spirit is all about. Do not get full too quick. In order to succeed in entrepreneurship, you need to do away with complacency. Be passionate with what you have as a business venture and invest your energy, skills and time in it. Only by ‘staying hungry and foolish’ will you become the next Steve Jobs. Only through thirst can you work tirelessly without feeling the strain. What others view as work, to you is a purpose and a calling.
Thirst will give you the drive to see your start-up grow regardless of the challenges you could be facing when starting off. In entrepreneurial spirit, this is one trait that will get you through the dark. A thirsty mindset is inherent with every young entrepreneur. This is your energy reserve, the drive to meeting your targets and resilience to rise above the current challenges: just like Jack Ma and Steve Jobs. Such a thirsty entrepreneurial spirit can only be gotten when starting off. Invest in what you love, can and will do regardless of the money you are making. The important thing is to start. Slowly from the outcome of that decision, work your way up. This is where thinking normally comes in, building and growing a successful business model around your venture.
Positive Attitude – If you have attended a ‘how to become a millionaire’ workshop, you might be informed on how powerful your thoughts are. The effectiveness of these workshops is a whole new story but what you should know is having a sanguine mindset is crucial. An optimistic entrepreneurial spirit is like an invitation to a social event. You need such a mindset if you want to take advantage of opportunities that may arise in the course of your undertakings.
Having a pessimistic spirit will dent your creativity and impair your ability of come up with ideas and solutions. This will reduce you to worrying about the risks, potential losses, competition, weaknesses, inabilities and setbacks that could lead you to shut down. You do not need that as a young entrepreneur. Rising above the ever-present threats should be what defines your entrepreneurial character.
An optimistic spirit will release the ingenuity inherent in you. It will condition you to view your entrepreneurial venture as a time bomb lacking one or two minor inputs. Optimism will buy you time, get you going and sustain your dejection in the event that you feel all hell is breaking loose. With optimism, you can then calmly think of wise solutions. Probably, explore a better insurance to cover risks like third party-caused fires. See possibilities; you could lease to replace the lost or damaged property. Try out techniques, fire detection and early response technology should be installed? You can also engage partners and incorporate practices that can change your life and its generations to come.
It is all in the head. Renowned entrepreneurs failed, countlessly. Thomas Edison on his way to getting us a bulb failed over 10,000 times. Or rather, ask Jack Ma how many times he failed. No matter the setback you face, with an optimistic mindset, you will always rise. To be a winner you need to have it in you regardless of your challenges because a losing and pessimistic mindset is a loser’s trait.
Perform – An entrepreneurial spirit is a doing mindset. The go-getter mindset conditioned to just get what was planned done. Sometimes ideas and viable opportunities waste away in young entrepreneurs’ thoughts. It is great to be a good thinker and innovator. But this counts for nothing if you lack that doing ingredient in your mentality. You have to actualize your plans lest you see these jewels waste away.
Studies show that, many young entrepreneurs with budding ventures fail because of failing to materialize their ideas. This could be due to the fear of failing attributed to a detrimental and pessimistic view of their ventures. Secondly, a complacent and procrastinating character is a recipe for slow growth if not failure.
Embody the entrepreneurial spirit and become a doer. Be on top of your game. Get a planner, set timelines for implementing these projects. Identify the resources you require and one after the other, tirelessly implement them. You can never fully predict if your venture will fail or succeed. Only by doing it will you test the venture, learn the tricks and become a better entrepreneur.