Entrepreneurship isn’t for everyone. To be an entrepreneur and actually make something happen, you have to have a certain mindset. You need to be extremely tough and have a singular focus. You need to br clever in a way that only comes with experience. In this article, I wanted to delve into what it takes to be an entrepreneur, and the mindset that you should have if you want to win at this game.
You are brutally honest/realistic
If you want to be an entrepreneur, you need to be crushingly honest with yourself. You can’t be willing to tell yourself lies and expect to succeed in the world of business. If things are going well for you, they’re going well for you. If business is bad, then so be it. You look at situations honestly and you’re willing to make changes when you see problems.
You see solutions everywhere
If you look around and see ways to do things more efficiently you should probably go into business for yourself. You’re going to be fine when it comes to finding workarounds and solutions, and solving other people’s problems. Don’t work for yourself if you aren’t a solutions-minded person.
You think in ten year time frames
The best entrepreneurs think long-term. They skate to where the puck is going. Some things, such as geopolitics, hinge on luck. But if you’re smart and can think ahead, you’re going to find yourself making a lot of progress. In the last 5 years, I decided to move from a rich country, to a poor one. I lived with family and worked. The country improved around me. Minimum wage rose and people got wealthier. In the meantime, I became skilled at writing and online business. Now I can plausibly see my way to owning a fairly large website. As I made this professional progress, globalization made it incredibly difficult for those from wealthier countries to gain a following. I’m still not at the top, but I’ve created a ton of content, and Ive proven that I’m skilled at getting attention to my writing. Five years from now I can see myself being a fairly successful blogger. I think in 10 year time frames and so should you.
You don’t see problems everywhere
I was recently discussing starting a certain type of business with an older family of mine. We live in a poor country and I think there’s a lot of value to certain types of foodstuffs. This family member agreed but made a fairly big deal out of getting a food handler’s license.
You are able to do the same thing day in and day out for years
The way you make money as an entrepreneur is by setting up a reliable business and running it for a long time. When you grow it to a certain size and are able to save a certain amount of cash, you buy real estate. It’s a lot easier said than done, and odds are you’re going to need to hone your skills or spend a lot of time scaling with blood sweat and tears. Get ready for hard, boring, and repetitive work. If you can push yourself and get this work done, you’re an entrepreneur.
You are able to live without debt
If you can build something without taking on debt, you’re going to find yourself well ahead of the curve. Most people can’t live without taking on debt. When you have debt, you pay interest. You work harder for your money and it takes longer for your money to start working for you. If you can avoid debt, you can work harder on big projects for longer. You’re free to take lots of risks. Once you get some savings in the bank, you’ll be able toget to the point where you’re investing your money fairly fast.
You understand economics
If you understand economics, you’re highly likely to succeed. The more you know, the better you’ll be at making money. Most people understand the basics of money, but they don’t know how to make money work in their favour.
You are willing to work 60 hours per week
This is honestly what it takes to achieve maximum success. There are a lot of people looking to make money in today’s world. Life is a struggle for a lot of people, and everyone wants to change their circumstances. This means that the results of your efforts will compound, but only if you outwork everyone and go online.
You don’t give up
Being an entrepreneur is going to come with a lot of drawbacks. That’s pretty much par fo the course. If you give up, you lose. As long as there’s a method to your madness, don’t give up.
You are ok being broke
It takes a while to figure stuff out in the early phases of entrepreneurship. These times are painful because you have to be ok with not having money in your pocket. After a while though, you’ll hit your stride. You’ll be able to work without seeing results, and build what the people need.
You don’t overspend
I live in a poor country. Generally speaking, it’s pretty hard to avoid overspending on stuff. I have work really hard to get much of anything, although things get easier with each passing year. At a certain level of income, somewhere between $2,000 and $4, 000 USD per month I will save half my income. This should allow me to become one of the wealthiest people in my country. As my country gets wealthier, I’ll do everything I can to keep my spending in check. This way, I can become one of the lucky few with a high net worth. It’s going to be hard and take a lot of work, but it’ll be worthwhile.
Make sure you truly want to be an entrepreneur. Entrepreneurship is difficult. It’s a life of thankless sacrifice that can mke you wonder why you’re doing stuff. But if you lock in and focus on your goal, you can get an enourmous amount of stuff done. Just make sure that you know yourself and you’re ready for the road ahead. It’s going to be a long one.
Thanks for paying attention.
