My dad was an entrepreneur. He showed me that I could create my own destiny by putting my heart into something I love. All I had to do was look for the right opportunity.
At the age of 11, I sold boxes of all-occasion cards. It was, in truth, a failure. My neighbors turned me down and I didn’t have enough courage to go after strangers. Two years later, my lawn-mowing company was founded. It didn’t last very long. It lasted longer than the business cards venture. My perseverance and determination increased with each entrepreneurial venture.
It’s not a straight line to entrepreneurial success. You can only learn by failing, trying again, learning resilience, problem-solving, applying yourself to new opportunities. Success is not about being in a certain position, but about your mindset. These are eight characteristics of an entrepreneurial mindset that are essential for long-term success.
- Openness. Entrepreneurs see the world differently. They see the problems that others do not and they fixate on the challenges that others overlook. They realize that products could provide solutions to such problems.
- Ownership. Entrepreneurs aren’t content to wait for someone else to solve their problems. They are driven to solve problems and take initiative.
- Grayscale Thinking. Entrepreneurs make indirect connections from adjacent industries and take the chance to try it. They use mental flexibility to discover answers that aren’t always obvious.
- Tolerance for Risk. Entrepreneurs challenge the norm. Entrepreneurs understand that to make their vision a reality, they must take many risks. While failure is a part of the risk equation, it is also necessary for success.
- Resilience. Entrepreneurs rebound when they fail, especially when faced with roadblocks, naysayers or even a no, when it is urgently needed. Resilience is key to success.
- Resourcefulness. Entrepreneurs have a knack for being resourceful and finding creative and unique ways to overcome obstacles and make the most out of opportunities. They are often limited in their resources and have to be able to find and use the best resources.
- Patience. Entrepreneurs stay with a problem long-enough to solve it. They know what it will cost to achieve the desired results later, and they do whatever it takes to reach the end. They have a long-term vision that they are willing to invest in, even though it may not pay off for many years.
- Belief. Entrepreneurs believe in their solutions, not in themselves. This belief sustains them when they pitch for funding or get rejected again. They believe in their ideas and this is what keeps them going even when others don’t.
These mindsets are not all ours and we don’t have them all. These traits can be improved and developed every day. Continuous improvement is key to your long-term success, no matter where you start.