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  • Writer's pictureDr. Pranjal Kumar Phukan

Developing Entrepreneurial Mind-set

As Steve Jobs said about growing Apple: You have to pick carefully. I’m actually as proud of the things we haven’t done as the things I have done. Innovation is saying no to 1,000 things.”

As soon as it comes to running a fruitful business, the right mind-set can be just as significant as striking sales objectives or making sustainable business models. Knowing how to grasp them in the shoot can make you a great entrepreneur.

Characteristics of entrepreneurial mind-set are:

1. Ability to confront self-doubt: Teaching oneself how to think means acting like own coach or even cheerleader. Entrepreneurial success will come from one’s ability to control own thoughts and confront self-doubt, making it easier to steer the failures and dissatisfactions intrinsic in going it on one’s own.

2. Accountability: Having an entrepreneurial essence includes recognizing owns responsibility for the outcomes and actions of one’s business. When big things go wrong, the buck stops with you. Even when outcomes are outside of your complete control, entrepreneurial thinking requires one to avoid making excuses and instead take actions to resolve the opportunity.

3. Resilience: Mistakes are unavoidable when attempting to launch new ventures. Resilience is one of the most important life skills for an entrepreneur. One’s ability to rebound back from failure will help business stay afloat and inspire a team to follow one’s leadership.

4. Willingness to experiment: Entrepreneurs are always willing to experiment when it comes to new products, business plans, or problem-solving techniques. They test out different products and pricing, soliciting feedback from a core team of reliable advisers, and they’re willing to abandon ideas when they are not working.

Ways to Develop an Entrepreneurial mind-set:

1. Set clear goals. Setting a goal, writing it down, mentioning it to friends and family who will hold you accountable can finely influence aspiring entrepreneurs to work towards that goal bit by bit each day.

2. Practice being decisive. Entrepreneurs, innovators, and new business owners must develop the ability to scrutinize a situation, absorb the relevant data, and make a confident decision. Small businesses and start-ups can be ruined by indecision, which is why making a decision with confidence is one of the most vital entrepreneurial skills.

3. Redefine failure. Failing typically has negative connotations, but the best entrepreneurs turn failure into something positive. Failing indicates that one have tried something, which can be a scary thing to do. True failure is not trying at all. Practice failure dialogues. One can do this in their notebook or with a friend. Have them ask about failures every day for a week.

4. Face your fears. Many entrepreneurs fear public speaking, failure, and embarrassment. The only way to chisel away at that fear is to expose you to it. Getting rejected again and again will anesthetize you to the let-down. Take a public speaking class anything to get you more comfortable in front of a crowd. If you want to improve your communication skillset, take an acting or stand-up comedy class. Both will force you to confront your vulnerability and get you accustomed to talking to strangers..

5. Remain curious. Curiosity is one of the most important traits for entrepreneurs. To constantly learn and maintain your competitive edge, you must always seek out new people and new experiences. Never lose the curiosity to see around corners.

Having an entrepreneurial mind-set is critical to being successful as an entrepreneur. An entrepreneurial mind-set stands alone in terms of its importance. No other attribute, personality, inherent entrepreneurial proclivities, training, or demographic profile is common to all successful entrepreneurs whether Warren Buffet, Steve Jobs, or the neighborhood florist or grocer.

Dr. Pranjal Kumar Phukan

Founder - CosmosMindsTM

Dibrugarh, Assam, India

Contact: 7896033897 (Whatsapp)

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