Some of the lessons I've learned through becoming an entrepreneur.
This week, I will celebrate a milestone in my business-the six-year anniversary of launching Money Mentor Group! I have learned so many valuable lessons through becoming an entrepreneur and they all are centered around embracing the mindset of success.
As I coach new business launchers, I share tips and tools to enhance their mindset as they begin their journey into some uncharted waters of navigating the ups and downs of starting their business.
Here are some mindset tips to consider if you are a budding entrepreneur:
1. Get Clear on Your "Why":
Chances are that you have thought a lot about why you’re starting a business. Perhaps it’s because you want to have more flexibility with your time, or maybe you are passionate about sharing your skills to improve the lives of other people.
Your “why” must be strong enough to validate your commitment to success, as you will rely on it when things get frustrating. It is your compass for keeping you focused on a daily basis.
I encourage all business owners to revisit their “why” on a daily basis. Before beginning to tackle the numerous items on your list, take a few minutes to remind yourself of your “why.” You will start each day with increased determination and positivity.
2. Let go of Comparison:
No matter what industry you have selected to pursue, there will be people that have more experience, or that are enjoying a level of success that you desire.
Remember that this is your journey! You are unique and have a gift to share, even if you are at the very beginning of owning a business.
You can admire your competitor’s success, but don’t let it leave you feeling discouraged. Remember, if they can achieve it, so can you!
3. Fail Forward:
You will not be immune from mistakes and missteps in your business. The key to a successful mindset is to learn any lesson you may glean from them and move forward anyway.
One of my favorite things to say to myself in these circumstances is, “so what, now what?”.
Spend as little time as possible beating yourself up, and get back to your “why.”
4. Create a Support System:
Even if you are a solopreneur, you will realize it takes a village to create and run a successful business. Even as a one woman show, you will need support in keeping your mindset in the right place.
Having a trusted group of friends and other business owners will enhance your mindset and increase your chances of success.
By creating an inner circle of support, that can share both your successes and frustrations will allow you to keep your focus and keep up your momentum.
5. Embrace a Learning Approach:
There are numerous aspects to business success. You may have never learned about bookkeeping, marketing, contracts or team building, and this can leave you feeling overwhelmed.
There are numerous books, online courses and coaches that can help you navigate these new territories. Commit to learning in steps, increasing your confidence in mastering the varied facets of being your own boss.
6. Hire a Coach:
Entrepreneurial coaching will increase your success in terms of getting a grasp on how to manage your mindset, motivation and money.
In working with small business owners, we focus on these areas, serving as mentors and accountability partners that have one goal in mind: your business success. Click here for more information on how you can work with us.
6 Mindset Tips to Consider If You Are a Budding Entrepreneur:
- Get clear on your "why".
- Let go of comparison.
- Fail forward.
- Create a support system.
- Embrace a learning approach.
- Hire a coach.
Owning a business is a lot like riding a roller coaster. There will be huge ups and big downs. Learning to level out your mindset with these emotions, and learning to master what you can control will catapult your business to epic success.