HOW AN ENTREPRENEUR’S MINDSET IS DIFFERENT FROM OTHERS?
RAHULRAJ E R
2nd Year, PGDM
Shri Dharmasthala Manjunatheshwara Institute for Management Development
MYSORE - 570 011
Abstract
The young generation with burning desires in their career easily influenced by their role models, successful or famous people. With the upcoming generation i.e. Gen Z based on the survey conducted by Get Smarter, a premium online short course company says 72% of Gen Z wants to start their own business and hire people. But, to become an entrepreneur, we need to set our mind in the right direction. In this article, I explained how to set our mind by breaking down each prominent qualities of an entrepreneur with scientific examples. Reading this will make readers understand what makes an entrepreneur's mindset is different from others.
Keywords: Entrepreneurship, entrepreneur, business, success, mindset, lifestyle, direction, life extraordinary.
INTRODUCTION
Entrepreneur, the one who makes the difference. In today’s world with the exponential growth rate of social media, it’s at your fingertips to get the information of anything or about anyone. The young generation with burning desires in their career easily influenced by their role models, successful or famous people. With the upcoming generation i.e. Gen Z based on the survey conducted by Get Smarter a premium online short course company says 72% of Gen Z wants to start their own business and hire people. But, are they ready? What does it take to be an entrepreneur? How entrepreneur’s mindsets are different than rest? Here are the 6 important traits that contribute to their mindset.
1.PASSION AND PURPOSE
Many people think passion and purpose are synonyms. But they are not. Passion is a feeling of intense enthusiasm towards or compelling desire for someone or something. It’s what you love to do, the emotions, the motivation and what makes you feel good. Whereas purpose is the motive behind it, the reason you are doing it. It is what keeps your soul on fire. These two are the most important in pursuing dreams. It is like a guide. Without these two, it is as same as exploring the world with no compass. Successful entrepreneurs tend to have a strong purpose with great passion. The aspiring entrepreneurs shouldn’t be motivated by money. Money is number and it never ends, if you follow the money you’ll end up with stress and disappointments. Your motivation should be driven by your purpose, that’s where the real difference will happen, that’s where you’ll go an extra mile to achieve when things get difficult. That’s the way entrepreneurs set their motivation. You can tell the purpose is like a fuel whereas passion is an engine. And these are the most important in anybody’s career line who wanted to become successful.
2.CREATIVITY
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.” -Albert Einstein
Each person is good at something, if you haven’t figured it out yet, take your time and find it. Find what you are good at. Once you find out what you’re good at, invest your time in learning it much better, try thinking outside the box, try solving the problems with what you’ve learnt. Start applying it to other domains. That’s how creativity will get better. Creativity comes from many sources, including socialising, problem-solving, play etc. The more creative or innovative you are, the better you’ll become in solving the problems. Creativity helps you to be confident, increases risk-taking abilities, reduces stress and anxiety, improves your focus and in turn helps your problem-solving abilities. If you look at the successful entrepreneurs almost all of them are having hobbies or work to be more creative. So that they can expand their horizon of innovativeness and problem-solving abilities.
3.BELIEVE IN YOURSELF
Self-confidence is defined as a feeling of trust in one’s abilities, qualities, and judgment. Self-confidence is important to your health and psychological well-being. Before you are taking any decision, work or choices you should have faith in yourself. If you aren’t going to believe yourself, things will be very rough.
What happens when there is no faith in yourself?
If you aren’t going to believe in yourself, you won’t believe in the results. Once you won’t believe in the results, you start compromising in the efforts you going to put. And that’s where it hinders the chance of you being successful. Not only that, once you start recognizing that your efforts are not up to the mark. This increases stress and anxiety; in the worst case, it leads to depression. That’s why great entrepreneurs tend to have faith in themselves. Although believing in yourself doesn’t mean getting overconfident and telling “I won’t go wrong”, it’s the attitude of even If it goes wrong,” I’ll be fine, at least I learnt valuable lessons”.
4.ATTITUDE
What they call you is one thing. What you answer to is something else. -Lucille Clifton
The way you think determines everything. For every failure, casualties, mishaps you have two options 1) to quit 2) To learn from it and try again. As far as entrepreneurial journey its not a cakewalk filled with rainbows. There will be risks, failures, rejections, stress, self-doubts, wrong companions, sacrifices etc. The way you deal with these things matters the most. Great entrepreneurs rise from failures, they learn, they improvise, they adept from these failures and difficult situations. That’s what makes them distinct from rest. The way they perceive the surrounding situations are positive and driven by motivation. That’s the attitude one should possess to become entrepreneurs.
5. HARD WORK
Hard work betrays none -Hikigaya Hachiman
This is something where I don’t have to give any introduction. The above quote, it is so true. It’s simple math to understand, higher the hard work, higher is the chance of winning. Talent is important but hustle beats the talent when talent doesn’t hustle.
Nowadays with a huge amount of competition, hard work with above mentioned four traits are those makes the results paying off. The great entrepreneurs tend to have a high risk-taking ability because of the faith in their hard- work. Although it doesn’t mean smart work has no significance. The combination of hard work and smart work makes a bigger difference.
6.MADNESS
There is no great genius without a tincture of madness. -Aristotle
Well, it’s the last trait yet it is important. It’s something you will find in the journey of invention, discoveries, success and even in entrepreneurship. When you observe the great scientists, mathematicians, philosophers some or the other point in the journey they go against the waves, do things so differently that it will be hard to accept by the rest. Here are some of the examples
One day Thomas Edison came home and gave a paper to his mother. He told her, “My teacher gave this paper to me and told me to only give it to my mother.” His mother’s eyes were tearful as she read the letter out loud to her child: Your son is a genius. This school is too small for him and doesn’t have enough good teachers for training him. Please teach him yourself. After many, many years, after Edison’s mother died and he was now one of the greatest inventors of the century, one day he was looking through old family things. Suddenly he saw a folded paper in the corner of a drawer in a desk. He took it and opened it up. On the paper was written: Your son is addled [mentally ill]. We won’t let him come to school anymore. Edison cried for hours and then he wrote in his diary: “Thomas Alva Edison was an addled child that, by a hero mother, became the genius of the century.”
In 1610 AD Galileo was excommunicated for saying the Earth was NOT the centre of the cosmos and threatened with torture. After 350 Years, Vatican Says Galileo Was Right: It Moves, Albert Einstein’s teacher had once said to him that “never will he get anywhere” and he ended up the genius of the planet, Being the dropouts from Harvard University Bill Gates and Mark Zuckerberg seems mad before their success. Sir Richard Branson has called for sharks to be protected rather than hunted down and killed in the wake of an attack on one of the world’s leading surfers. So, he swam with tiger sharks to create awareness.
It’s because great people believe in something where rest of the mediocre people find hard to accept, and that is because of normal mind-sets, not thinking outside the box, so fixed to the mechanical format of life and stereotypical beliefs. So, when comes to most successful entrepreneur, you need a pinch of madness to believe in your gut, intuition, to take unbelievable risks to make history.
CONCLUSION
An entrepreneur is not like copying some business or taking care of fathers’ business or looking for some safe income and investment. Entrepreneurship is doing something new, bringing the best from nothing, taking huge risks and leap of faiths, making this world much more sustainable and better place to live, providing solutions to the untapped problems, motivating and inspiring the thousands, and at last impacting the mankind.
References