Why do we need to develop an Entrepreneurial mindset?
The frame through which we view our lives is our mindset. Our difficulties, opportunities, and interactions are shaped by the values, beliefs, and views we hold. Essentially, mindset drives attitude. Entrepreneurs need to develop the right attitude to secure success for their businesses.
Althea West-Myers, Director of Cayman Business Centre says that, “If you are in business and you only focus on making the product and selling the product, you don’t have an entrepreneurial mindset.”
With that in mind let’s head to how to cultivate this mindset:
Train Your Mind
The part of the brain that regulates your mindset is the Reticular Activating System (RAS). Your RAS takes what you focus on and creates a filter for it. It programmes itself to work in your favour without you actively doing anything. This is not a biology crash course, but the Entrepreneurial mindset starts in the RAS. If you are about positivity; you will become more aware of and seek positivity. Focus on the bad things and you will invite negativity into your life. In the same way, if you direct your attention towards building your business, it will be successful. It’s not magic, it’s just your RAS working for you. As such, being positive is a skill that entrepreneurs must develop. A positive attitude and outlook is a must for successful entrepreneurs. This is where the less scientific side of your head comes into play – the mind.
Mind to Manifestation
Reality is a manifestation of the mind. What if you could make all your dreams come true? Essentially, manifestation is bringing something tangible into your life through attraction and belief. If you think it, it will come. Wayne Beecher, CEO of Altcatalyst defines the phenomena as a, “Process of moving things from the mental plain to the material plain and to make it real in your life.” However, manifestation takes more than chanting affirmations in the mirror. It’s a process.
You need to know exactly what you want for your business. Do you need to increase sales? Or do you need to boost visibility? Be intentional. Afterall, only you dream your dreams.
Write it down, draw it, paint it, until you know it. If you see it, you can achieve it. You need to be constantly reminded of your dream. Writing it in your note pad or creating a vision board brings your goal out of your head and closer to manifestation. Be positive. “Telling yourself you’re not good enough, you’re not worthy enough, you’re not smart enough, you’re not enough—it’s a tape that’s playing for a lot of people,” Oprah said during an episode of Oprah’s Lifeclass.”.
Be Change-centric
An entrepreneurial mindset embraces change. One thing the pandemic has certainly taught us is that when change comes, adapt to it and embrace it. Several entrepreneurs fail because they are not willing to rethink and reset. According to West-Myers, “Once there is change there is opportunity.” So, tapping into that new level of your business requires change.
Be Innovative
Even if you’re not in a creative industry, creativity is needed for entrepreneurial success. The mind of an entrepreneur is always looking for unique ideas and innovations. In fact, this trait sets you apart from your competitor. Dare to be different.
Just Do It
West – Myers says, “The gap between knowing and doing is filled by the entrepreneurial mind.” Most of us know at least one person who always has really good ideas, but is never able to manifest it. It’s the same thing in business. Entrepreneurs usually have great ideas for their business, but only the right mindset will lead to action.
What Next?
Putting in the Work
After you have worked on developing the Entrepreneurial Mindset, it should not be hard to transform your business into what you’ve always envisioned. Doing what needs to be done and shooting those shots will become second nature.
The JBDC’s Fundamentals of Business Workshop will go in-depth into four (4) modules, beginning with the Entrepreneurial Mindset and Business Formalisation and participants can look forward to receiving a wealth of knowledge from industry experts. Additional modules include Design Thinking & Value Proposition, Marketing Fundamentals, and Start-Up Financing & Costing. The workshop begins on June 13, 2023 and runs for four (4) weeks with cost being $4,000 for the entire programme. Interested persons can register at .
