Today we're going to be answering the question, how do you build or develop an entrepreneur mindset?
I'm excited to talk about this.
I feel like this is my bread and butter, so watch me work.
The entrepreneur mindset is not like a business management mindset.
The entrepreneur mindset is adaptable.
It is something that comes up inside of you and pesters you and then you act upon it.
The four characteristics of having an entrepreneur's mindset is going to be number one.
You have to learn how to be comfortable being uncomfortable.
Elon Musk once was interviewed and asked.
What was it like starting Tesla, space X and solar city.
He said, it was like eating a handful of glass and trying to smile while swallowing it.
He was very good at being comfortable, with being uncomfortable.
His pain tolerance was very, very high.
So if you're going to become an entrepreneur, it's important that you first can crystallize what's going to happen when you finally do succeed.
Then be tenacious, like a pit bull on achieving your goal and your entrepreneur dream.
So learn how to be comfortable being uncomfortable and you will start to build your entrepreneur mindset.
All right, well let's take one more step back and let's really try and think about what it is and what it takes to have an entrepreneur mindset.
When I was becoming an entrepreneur, my mindset was I got to figure out a way to make some money because I need to eat, I need to be able to put clothes on my back.
And that motivated me and I was determined not to work or have a boss ever again because I was in the military and the oil field and I was just done with being told what to do and done building someone else's dreams and not working on my own dreams.
So the fire inside of me was so great and I was so pissed that I was going to let nothing stand in my way between me and figuring out how to make a lot of money and be successful on my own.
Now what I learned about being an entrepreneur is that it doesn't matter necessarily what you think is worth a lot of money.
All the matters is when you get a check from somebody, that's real money that you can hold in your hand.
That's what being an entrepreneur really means.
It's all about the customer.
No matter what you do, you always get your money from somebody else.
So creating happy customers and creating things of value and bringing it to the market is what you're going to get paid for.
It's not just going to work, being there and getting paid.
That's a shift in the entrepreneur's mindset.
To get you started as an entrepreneur you need to be in charge of your experiences.
You're not waiting for somebody else is experienced to happen.
You are in charge of your experience.
You are going out there and creating your experiences.
You are not a passive person.
You are not just riding the bus.
You are driving the bus and you aren't going to get to your destination.
And the number two for an entrepreneurial mindset lesson is that you have to pay your way no matter where you go.
Don't let anybody else pay for your dinner.
Don't let other people pay for your trip.
Pay for your success.
You need to find a way to do it.
Lot’s of entrepreneurs have this gobbledygook mindset that they're going to go to Silicon Valley, they're going to make these elaborate business plans, they're going to present it in front of people and then they're going to get this large amount of income and then once they have that money, then they can be an entrepreneur.
No, being an entrepreneur is being able to start something from scratch and put it into test as fast as humanly possible.
You don't want to spend five to 10 years of your life or something on something before you can ever even test it in the market, and if you can't do it without other people's money and you can't get people excited about it without their big investment banking, then it's probably a crap idea and you should go back to the drawing board.
I'm not saying to stop your entrepreneur career.
I'm just saying take baby steps, be in control of your experience and pay for it yourself.
Sometimes when need funding, yes.
It's better to figure out how to make money from ground zero.
Then start out with a ton of money and then hit ground zero and have to make it back.
The next one is you have to learn to be flexible.
You have to not be completely in love with every single one of your ideas.
You do have to carry a lot of ideas a lot farther than most people, but if it doesn't work, you have to just let it go and try something new.
You can't necessarily be overly like, like holding onto this one idea and if it doesn't work in this certain way, but you have to understand, well that's not how life works.
Life doesn't necessarily do exactly what you want it to do.
Sometimes with the success you have to be able to pivot your business and that's what being an entrepreneur is it’s being able to pivot your business.
When you start an entrepreneur business, it's all about cashflow in the beginning.
So you're going to be doing lots of different things and eventually you're going to discover where that cash ocean is.
Where the big whales hang out.
When you're just starting out you will create different forms of cashflows and then sometimes you'll find that cashflow from the least likely place and that's where you have your opportunity.
You find your gap in the market, you find your niche, but you have to be willing to try different things and you have to be flexible and adaptable.
The next thing is you have to be confident in yourself and you have to understand this.
This is very important.
An entrepreneur mindset is someone that does not wait for permission to do something.
In America we have this terrible, terrible problem where we are constantly waiting for someone to choose us to stand up and do something.
That's not how it happens though.
You have to choose you.
You have to breathe the life into your dream in order for it to come alive.
So instead of waiting for someone to pick you to start, you do not ask for permission.
You start and you go and then you do not stop until you see your goal come to life.
That's having an entrepreneur mindset.
You're not waiting for someone to take you by the hand and skip you off to your beautiful entrepreneur business.
You're going to take yourself by the hand and you're going to put your ass to work and you're going to get shit done that's going to make you into that awesome entrepreneur that you will always be.
Then you have to be able to have the confidence that you are going to make something awesome happen.
Confidence doesn't come from the outside world.
Confidence comes from inside and then you bring it out to the, to the world.
You pour confidence from being okay at being uncomfortable, but being sure of yourself that this is going to work out.
Too many people watch the goddamn news and they fear
everything in the world and they've never done anything.
The truth is that like you're not going to get attacked by random animal.
Less than animal is super hungry or ravenous, but you really don't have that much to fear.
You have more opportunity than there is things to fear.
But people have it all flipped up on their head.
They, they're, they're more afraid of crap.
That doesn't happen than they are of looking at what could happen in the opportunity.
It all has to do with our ego.
Our ego tells us, well, I know that I'm safe right here in this little box, but if I were to go out there, I don't know if I'd be safe.
So I'm just going to stay here in this little box.
To have an entrepreneur mindset, you need to pull yourself out of that little box and get to work doing something awesome for your life.
For your entrepreneur dream.
Let's talk about some skills to grow your entrepreneurial mindset.
The first thing that I always think about when I'm thinking about having an entrepreneurial mindset, a successful entrepreneur mindset, is that the market is always going to be going to where the customer's expectations are.
So if you're able to be able to take a look at a certain fashion trend, but it's not perfect, and you can tell that people are wanting us a new tassel or button on it, and that's what they want, then you could be that person that steps in, puts that together where and, and meets the customer at their expectation, right?
Products aren't necessarily going to get worse, you know, and they're not going to go back to being as dumb as they were.
They're going to constantly be progressing forward.
So if you're a true entrepreneur and you want to have success in a particular niche, think about the customer's expectation and where that is going to be in the future and then think about how you can create it faster and better than everybody else right now.
The other thing that I see entrepreneurs doing that is more effective than just creating a new product. It's creating a new method, a new system, a new piece of the puzzle that's not there yet.
A new capability.
That's the word I was looking for.
So new entrepreneurs that have, you know, can shoot to the moon or entrepreneurs that you know, can connect to apps together, creating a new capability and then they can utilize that to become super rich.
Not just apps, but it's not all about products anymore or about crazy marketing.
It's really all about having something new, a new capability that you can bring to the market.
Think about Uber that was a new capability.
Airbnb, new capability, grub hub, new capability where it was kind of obvious ones that happened, but it hadn't happened yet.
And those entrepreneurs had thought about what it would be like to have this new capability and then they created it.
The other thing is that like Steve jobs, we're going to talk a lot about him for entrepreneur stuff, but let's Steve jobs did really well is he thought about, you know, what it is that he would like and that other people would probably like.
So he wasn't really a coder, he wasn't big on doing the crazy coding for computers.
Whenever he was looking at as computers, he was like, I don't want to code.
It'd be really nice if I could just click one button and then this could happen.
That's how user interfaces really got started because Steve jobs saw something that he really would like and liked and then he had the ability to create it in real time and in the real world and to take it to that next level.
So that is an incredible entrepreneurial mindset where you can need to look at what the customer wants and where their expectation is going, what you would really want in a product, and then creating it.
If other people would like it too.
You also must have, you know, good taste or at least a good grasp about that specific niche and those specific people that would also like what you're about to create.
then the next one is going to kind of go into some strong skills for your entrepreneur mindset.
And also while you're hearing these things, you should really think about how you can nurture your entrepreneurial mindset.
If you're out at a job and you want to become an entrepreneur, you can start to use these ideas.
You know, these holes in the market, these creativity things, and you can begin to nurture it and to realize that being creative, being someone who has critical thinking skills, who has problem solving skills or as good at communication, these are the traits of a entrepreneurial mindset and you should nurture them and he should double down on them.
So we're going to double down on them. Again, to have a good entrepreneurial mindset, you need creativity, all right?
You have to have critical thinking.
You have to have a problem solving ability.
And you have to have good communication skills as well as a deep hunger to always be growing, to always be building and always be learning and to constantly have that growth mindset and never see problems or obstacles as roadblocks, but just as opportunities you to overcome this obstacle and to grow into something bigger and better from here.
So those are the things that you should nurture most if you're trying to grow a entrepreneurial mindset. So you should really grow your creativity.
You should really work on being unique, seeing things differently.
I did a whole research on creativity and I wrote a book actually, and when I was doing that, I had the most breakthroughs I think I've ever had on a subject that I was trying to study and trying to learn.
I do this every day and every month for my life and creativity really exploded my mind.
If you're not a creative person, you still need to become more creative.
If you're going to have a true entrepreneur mindset, you don't have to have a bunch of crayons or anything, but you just have to be able to see the world a bit different.
It has to be able to take yourself outside of the ego and how everyone else perceives the world and see opportunities and then you have to have the self confidence to take, to capitalize onset opportunity and to follow through with your actions.
Okay, and as cool as the entrepreneur mindset is, the truth of being an entrepreneur is being able to have the mindset and then take the action and have the confidence to follow through action, action, action.
As an entrepreneur, you should learn the art of taking immediate, intelligent action at every opportunity and to just hunt it down like a bloodhound.
Just keep going and stay strong.
Critical thinking is being able to process ideas rationally.
Having that intelligence to say, you know what? This is unique.
This is different.
This could be something.
And then to, you know, you don't like, it's important to take the immediate action, but it's also important to have that intelligence about critical thinking and about understanding how you can make this better.
So you have to take the initial action and see it to fruition.
Then you have to be able to have that critical thinking to take your entrepreneurial venture to the next level to see what other people aren't seeing and then have a true process of digging deep into the benefits and the outcomes of these different opportunities without getting paralyzed with fear.
So critical thinking.
Just what I do is I just make a list and I write it down.
I write everything down every morning and every night and I write down the three wins that I had that day and the three wins that I'm going to have tomorrow.
And if I have a big problem, you know, you make a list, you put all the positives on one side, on the negatives and the other side, you write it all down and you go to sleep.
Then if you wake up in the middle of the night with the right answer, that's the one that you're going to do and you're going to go forward with that.
You're not going to waste your whole life debating something.
The next step is going to be problem solving.
So as an entrepreneur, you're going to have a lot of problems as just part of it. You should just accept every problem as a new opportunity, as a new step to take over and to not run from problems.
To overcome the obstacle is the way as an entrepreneur and having an entrepreneurial mindset.
So if you didn't make enough money today and you have to make more money tomorrow, and the obstacle is to make more money tomorrow and do what you didn't do, do, do the more of the right stuff today that you didn't do yesterday, so you can overcome this obstacle so you can find a way around it. So you can be like water and flow through this world without being blocked or stopped.
Just forming a new ways to create new opportunity and new potential. And then finally, it's communication skills.
So work on your communication skills.
Become someone who understands what people are thinking and why they're doing and why they're acting in a certain way before they even do it, before they even know what they're doing.
A read how to win friends and influence people by Dale Carnegie.
Read persuasion and Pre-Suasion and, and read more on how to be an empathetic person so that you can relate with people and not be someone who's constantly waiting for them to stop talking so that you can talk, but be somebody who actually listens to what people are saying and observes what people are doing and then be someone that is always building more rapport and is someone of value that people will respect and have money and would like to communicate more with.
Be interesting. I think those are the basics for having a beautiful entrepreneurial mindset. I really hope you got something out of this. I'm checkout evergreen tactics.com/entrepreneur coach and I look forward to seeing you in the next one.
Take the next step