the entrepreneur mindset- startup

The entrepreneur mindset

If you are approaching this as a hobby, that’s cool but you must understand that your chances of monetary success are small. Success depends on developing the entrepreneur mindset.

There are stories of folks that turn their hobbies into overnight bazillion dollar companies but it’s not an approach you want to bet your future on.  And, in truth, if you dig under the covers, most of those overnight successes were years in the making.  So, best to not expect overnight success.

Perhaps you are looking to turn your hobby into a business.  All the better but keep in mind that the “hobby mindset” is drastically different from the “entrepreneur mindset” and you’ll most likely need to shift your thinking and activities a bit.

Changing to entrepreneur mindset - sticky board

You are the CEO of your business.

Approach this as a business person.

You are the CEO of your business.

You set the strategy, you set the direction, you course correct when needed, and you harness the powers of those working for you.

You say you don’t have anybody working for you?  You will.  I don’t mean 9-5 employees though, I’m referring to the outsourcing you are going to be doing for much of your work.

Does the CEO do all the work?

Nope, the CEO delegates and manages the work.

I’m not saying CEO’s don’t roll up their sleeves and get their hands dirty, but the great ones know the opportunity costs of doing that as opposed to having somebody else doing it.

If you elect to write every word that goes on your site, are you missing an opportunity that is perhaps more lucrative?

If you spend hours tweaking and perfecting that spreadsheet, perhaps that time is better spent talking to customers.

You can pay somebody $100 to write that article for you which frees up 6-8 hours of your time to do something more beneficial to the company.  Would you trade $100 for 8 hours?  That comes out to $12.50/hour – is your time worth more than that?  Spoiler alert, yes, it absolutely is.

So adopt the mindset of the CEO, a business person, a giant among giants with laser sharp focus on the success of your business, willing and able to do the work when needed but also understanding of the value of having somebody else do it.

Difficult roads - the entrepreneur mindset

It is critical is that you understand and believe that your website is a driving force behind the success of your business.  If you don’t feel this way, much of what you find on this site will not be applicable to you.

While we’re talking about either doing the work or outsourcing it, an approach you hear often is to do the hard work first, which is something I tend to agree with. Getting the difficult work out of the way early in the day, or early in the week, makes the rest of the day (or week) more productive because you aren’t anticipating and fretting about the upcoming difficult piece of work.  Getting that done early also serves to motivate you to tackle the next big issue with more confidence.

You’d be hard pressed to find an CEO that feels mistakes are the end of the world.  Or, at least, a good CEO, I should say.  Most CEOs understand that mistake will be made and there are two key takeaways regarding mistakes

  1. Learn from your mistakes:  Make the mistake a learning experience and you will benefit.  Try to sweep it under the rug so nobody notices serves no purpose.
  2. Don’t make the same mistake twice.  You can argue this is the same as the first but it’s not.  I’ve seen folks learn from mistakes and then happily create the same error.  You have to be present in the situation to ensure you are not making the same mistake you made the first time.

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