In business, you can view yourself in two ways – a worker or an entrepreneur.
You don’t have to be an hourly employee to have a worker mentality, nor do you have to be an independent businessperson to have an entrepreneur mindset.
My friend, Nido Qubein, president of High Point University in North Carolina and a fellow member of the National Speakers Association, told me it is all about your attitude. He explained that people who follow the worker mentality do not discern a clear connection between their own success and the success of the company.
“If the company’s performance is marginal, they are not overly concerned so long as they continue to draw paychecks and receive their annual increases,” Nido said. “They may attend to their own areas competently, but they do not worry about what happens outside their areas of responsibility.”
On the flip side, those who follow the entrepreneurial mentality see themselves as partners in prosperity with the company. They view the company’s ups and downs as their ups and downs and are looking for ways to contribute to the company’s profitability. They look for ways to make a difference.
“A company with a workforce full of entrepreneurs is almost sure to succeed, and the entrepreneurs will share in its success,” Nido believes. “Think like that, and you can share in the success wherever you are.”
An entrepreneurial mindset isn’t just about starting a business; it’s about recognizing opportunities, taking initiative and driving positive change wherever you are.
November is National Entrepreneurship Month in the United States, a time to celebrate the entrepreneurs who serve their communities and bolster the American economy. The second week each November (Nov. 11-17 this year) is Global Entrepreneurship Week when we also recognize the American spirit of entrepreneurship abroad.
Having an entrepreneurial mindset is crucial for several reasons:
Adaptability and resilience. An entrepreneurial mindset fosters adaptability and resilience. Entrepreneurs are often faced with unexpected challenges and must pivot quickly to new strategies. This mindset helps individuals remain flexible and resilient in the face of adversity, ensuring they can navigate through tough times effectively.
Innovation and creativity. Entrepreneurs are known for their innovative thinking and creativity. They constantly seek new solutions to problems and are not afraid to think outside the box. This approach can lead to groundbreaking ideas and improvements that drive progress and success. As Nolan Bushnell, the founder of Atari, said, “The true entrepreneur is a doer, not a dreamer.”
Proactive problem solving. Entrepreneurs are proactive problem solvers. They anticipate potential issues and take action to address them before they become significant obstacles. This proactive approach can save time, resources and prevent crises.
Risk management. While entrepreneurs are often seen as risk-takers, they are actually skilled at managing risk. They evaluate potential risks and rewards carefully and make informed decisions that balance both. This ability to manage risk effectively is essential for long-term success.
Leadership and vision. An entrepreneurial mindset includes strong leadership and a clear vision for the future. Entrepreneurs inspire and motivate others, creating a shared sense of purpose and direction. This leadership quality is vital for building and sustaining successful teams and organizations.
Continuous learning and growth. Entrepreneurs are lifelong learners. They seek out new knowledge and experiences to improve their skills and stay ahead of the competition. This commitment to continuous learning fosters personal and professional growth.
Economic impact. Entrepreneurs drive economic growth by creating new businesses, generating jobs and fostering innovation. Their contributions can have a remarkably positive impact on local and global economies.
Entrepreneurs create because of fulfillment more than money. They believe in making things happen. They don’t wait for someone to tell them that it’s okay. Entrepreneurs often find a new way to do something.
They also succeed by finding solutions to problems. Entrepreneurs are like a firefighter who runs into a situation everyone else is trying to leave. They know what they are doing. They have a mission and a plan just like the firefighter. They know what caused the fire and how to put it out.
Above all, entrepreneurs have faith. They understand that looking on the dark side of any situation is fatal to a business. Optimism is the heart and soul of entrepreneurs.
Mackay’s Moral: Don’t wait for opportunity. Create it.
