THE ENTRECODE BLOG
How to develop a successful entrepreneurial mindset
Our entrecode© research discovered that entrepreneurs think and behave in unique ways that enable them to succeed. Here is the entrepreneurial mindset that creates success:
1. Getting into the Zone
Entrepreneurs have a strong achievement drive which usually comes from difficult early life experiences i.e. failing at school. They are determined to prove they are not failures – “I am OK.” They develop a compelling vision which is a picture of what success will look like which they find inspiring and helps them stay focused – “keep your eyes on the prize.” Finally, in this section they are action oriented, preferring action to procrastination - “just do it.”
2. Seeing Possibilities
Entrepreneurs are strategic thinkers in that they can see the market and competitive landscape. They trust their intuition in creating possibilities and are options thinkers so they can usually find a way forward, they rarely get stuck – “plan A failed, so plan B or plan C.”
3. Creating Superior Opportunities
Superior opportunities are those which enjoy defendable competitive advantage, have high sustainable margins and attract investors and media interest. These are created by finding customer problems, solving them and then selling the solution to everybody else. This is the core of successful entrepreneurial activity – “solve a problem and create a friend for life.”
4. Stay in the Zone
Entrepreneurs work hard at not being busy fools. They stay focused on the key priorities, maintain a positive attitude when things go wrong and avoid distractions. They are good at recovering from setbacks – “persistence is the key.”
5. Opening up to the World
Entrepreneurs engage in purposeful networking with people who can help them build their business. They seek to create alliances and partnerships in order to grow – “networking not notworking.”
6. Building Capability
Entrepreneurs learn by doing and build teams who can support them. They invest in processes and systems that enable the business to function in a consistent manner – “complimentary values, different skills.”
Success as an entrepreneur has little to do with business planning, budgets, meetings, job descriptions or policies. It’s about how you think and behave. So develop the entrecode© mindset and get going, better still, read entrecode© – Unlocking the Entrepreneurial DNA and fly!
