Past three years have seen tumultuous time. People have lost employments, people have changed jobs, employees have become entrepreneurs. In nut shell people are learning more skills and trying new innovative ideas to develop a supporting revenue stream. No wonder MLM has become popular in this part of the region. Having said that to develop an alternate revenue stream you got to think like an entrepreneur, act like an entrepreneur and be one. Last week I put that questions to LinkedIn connections “How do you develop a mind of an Entrepreneur” and I received host of responses that I am sharing in this post in no particular order.
- If your HEART is not into the project or venture that you are working on, you will fail. If you don’t have the NECESSARY MOTIVATION, then too you will fail.
- Commit to something far BIGGER AND LARGER than business / oneself. This signifies the importance of passion, commitment and dedication towards that cause.
- Be deeply PASSIONATE about your pursuit that you forget even yourself in chasing the cause and instead let the cause direct your thought process.
- Things critical for the entrepreneurial mind set are:
- Practicing DELAYED GRATIFICATION – the true entrepreneurs that I’ve known have gone without many comforts and put everything into building their business, so that they can reap their rewards later.
- Practice BEING A PRODUCER, not a consumer Put yourself through the following paces:
- Do not PROMISE what you cannot deliver
- Do not OVEREXTEND your resources and get a reputation for poor performance.
- Do not tell the customer what he or she wants to hear. Tell them what THEY NEED TO KNOW. They will respect you for it.
- Network constantly on professional sites such as Linked In. Hit the “Answers” feature and accumulate an “EXPERT” rating from your peers in your field.
- BLOG like there is no tomorrow. A blog is quite different than a web site. Provide good, solid information free of charge and use blog searches for synergistic businesses to team with. Teaming is an absolute necessity these days.
- FASTING and for long periods…I am not talking days, or weeks, but months and years. Having the ability to ‘withstand’ and ‘preserver’ are the truest entrepreneurial traits…without them, you are just another flash in the pan
- The entrepreneurial mindset is developed at a very early age, in my opinion it is innate.
- Risk your money to get a business going– you either get real sharp real fast, or go broke.
- Start a business no matter how small.
These are raw diamonds that needs cutting, grinding and polishing. But they are diamonds of wisdom. Use it to develop the mindset of an entrepreneur.