Selling boxes of all occasion cards was my first chance at selling, aged 11. It was a failure. I was turned down from my neighbors and couldn’t find the courage to seek out strangers. I opened my own lawn-mowing operation a few years later. The venture didn’t last for long. But it was more successful than the cards venture. My persistence and determination grew with each new entrepreneurial venture.
Entrepreneurial success does not come in a linear fashion. It is only by trying, failing and learning from your mistakes that you can truly learn. It’s not all about being in one place, it’s about your mindset. These are the eight essential traits of a successful entrepreneurial mindset.
- Openness. Entrepreneurs have a remarkable ability to see potential and be open to new opportunities. They see issues others don’t and aren’t afraid to tackle them. They recognize that the solutions to these types of problems may lie in products.
- Ownership. Entrepreneurs won’t wait for someone else solve the problems. They are driven to find solutions and take control.
- Grayscale Thought. Entrepreneurs find and make indirect connections with other industries, then take the chance of trying it. They apply mental flexibility to seek out answers that may not always be obvious.
- Zero tolerance for risk. Entrepreneurs rebel against the standard. They realize that turning their vision into reality requires them to take many risks. Failing is part of success, but so is failure.
- Ressilience. Entrepreneurs can bounce back from failure, especially when there are roadblocks, negative people, or when a “no” is needed. Failure is a part of the path to success.
- Resourcefulness. Entrepreneurs can be resourceful, and find innovative and creative ways to overcome challenges or seize opportunities. They may have limited funds and must learn how to identify and harness the resources available.
- Patience. Entrepreneurs persevere with a problem long sufficient to solve. They understand the costs involved in obtaining the results they want later and are willing to do what it takes. They have a long term vision that they are willing and able to invest in even if it does not pay off for many more years.
- Believe in yourself. Entrepreneurs have faith in their solutions. It is this belief that sustains them as they present their pitch for funding and receive another rejection. They have this belief to keep them going when others don’t believe in their ideas, or at least not yet.
Each of us is born with different mindsets. We have not developed them all to our full potential. It’s possible to improve and develop these characteristics in every aspect of our work. No matter where you start, continuous improvement is crucial to your long-term happiness.