Positive Mindset in Business
How to Think Like an Entrepreneur
When you hear the word entrepreneur, what comes to mind? Someone who starts a business? Someone like Steve Jobs who was innovative and creative? While these can be valid definitions for being entrepreneurial there is actually more to it.
Whenever people do something that is outside their comfort zone, they can be considered entrepreneurial. It may have nothing to do with business either. If you have never built a deck before and then one day you learn the techniques on how to do it, you are in effect, being entrepreneurial.
Have you ever thought about writing a book but don’t know the first thing about how to do it? Suppose you took a course on it and proceed to publish your first book? You will have the entrepreneur spirit when you do this.
You can even consider blogging an example of being entrepreneurial. If you are capable of building a following on your blog, it can be used to start selling products or services to them. As long as you provide information that is beneficial to others, they will be willing to pay for it. They too may use what you have provided as a means to become entrepreneurs themselves.
Any skill you learn can actually be turned into a business when you master it. You could easily build decks for others or help potential authors get published. Think about a skill you have always wanted to learn and take the steps to learn it. This can be your new business if you want.
It is easier than ever to learn skills with the help of the internet. There is plenty of free training on sites like YouTube or if you want to step up your training you may be able to find what you’re looking for on Udemy.com. There are new sites that offer training on just about every subject imaginable. With deck building, you may even find how to do what you want by visiting sites like Lowe’s or Home Depot. They have plenty of how-to videos which they offer for free with the hope that you buy the supplies from their stores.
Anyone can be an entrepreneur and in fact, everyone essentially is. When you learn new skills or take a new position at work, you are using an entrepreneurial mindset. When you do something that you have never tried before, you are by definition being entrepreneurial.
How to Grow in Business by Accepting New Challenges
Did you ever notice people at work who are always jumping on new projects? When your manager asks who wants to take a certain project, these people are the first to raise their hands. What usually happens over the long run with these people? They tend to move up the ladder much quicker.
Managers appreciate people who not only get their own work done but who are willing to accept new challenges. These people have a growth mindset. They know that they can learn new skills or connect with important people if they increase their exposure within the organization. The way to increase exposure is to be the one to accept opportunities as they arise.
Most people will avoid these opportunities or challenges. They look at them as more work that will get in the way of their normal job functions. They believe they already have enough on their plates and taking on even more responsibility is going to make them have to work longer hours. These are the same people that often wonder why they are getting passed up for each promotion that comes along.
There are no guarantees that these extra challenges will lead to promotions. One thing is certain, however, not accepting new challenges will keep you from getting promotions. Many managers believe that people who are meant to get a promotion are those that are already performing the job they aspire to be promoted to. They started learning what the responsibilities of those jobs are and starting performing the tasks needed that are part of those jobs. When they got stuck, they asked the boss for help. Over time, the jobs they want become second nature. It’s hard to imagine anyone arguing with these people getting the promotions. And it makes it easy for managers to justify why they chose those people for promotions.
Even if you don’t get a promotion as a result of taking on new responsibilities, you will gain new insight and experiences. You will meet other people who may be able to influence a decision regarding your future. If all else fails, these people may open up doors that would otherwise not have been available. If you don’t take on those challenges, it will be less likely for you to meet them. Another benefit to all this is you will get to learn more about your company’s business when you accept new challenges. You will become the person everybody goes to for answers. This will certainly get you noticed.
Can You Improve Your Business Mindset?
Some people are naturals at business. They are great negotiators and they know how to generate business as easily as eating their breakfast. They seem to have a great business mindset.
For others, they struggle with business and it could be because they don’t have that same mindset as the superstars. Is it possible for those who struggle to improve their business mindset?
The number of college programs and training programs teaching business methods suggest that your business mindset can be improved. But in order for it to be effective, you have to determine what needs improvement or what you need to learn.
To determine the business functions to improve upon, take a look at some past performance evaluations from your work. See what your manager or managers have identified as areas in need of improvement.
Study the people that you admire in your organization. What do they do that you aren’t doing? Try to be as objective as possible when making these determinations. You could even approach these people and let them know your plan for observing them. They may offer up some tips and ideas to help you with your goals.
Pay attention to what your peers or colleagues are suggesting for you. If they are starting their sentences with, “you may want to try…”, etc., pay attention to those suggestions. While not every colleague is going be correct in their assessments, many will have good points to make.
It also pays to search within yourself to discover what you feel are areas of your business life you would like to improve. You can start by thinking about times that you may have said to yourself, “I wish I were better at…”, etc.
Speak to your manager about setting up an interim program that helps you in making the improvements that you or others have identified. Most managers would be willing to do this as it will make you a more productive worker. It’s not necessary to wait until your performance appraisal to make changes that will improve your business mindset.
When you identify areas in your business life that need improvement, this sets up a roadmap for you to follow. It will take some work and a new focus in your daily activities. But the benefits to improving those aspects will well be worth the effort. These improvements may even lead to a promotion or higher pay. This alone will prove that you can change your business mindset for the better.
How to Develop Your Leadership Mindset
Whether you are in business for yourself or you manage a team of people for another company, you may eventually find yourself put into a leadership role. How you develop your mindset for leadership can make all the difference in succeeding as a leader.
There’s a reason people say it’s lonely at the top. When you become a leader you are faced with making decisions that affect the lives of others. You also may be responsible for an entire organization. This is no easy task. But you will be the one that is accountable for those decisions. So you need to develop the right frame of mind in order to be effective at the job.
One big attribute of a leader is to have a plan for success. This way, any decisions that are made can be compared against the plan to make sure they are in alignment. When you present your plan, you can defend your decisions by showing how they are matched up with the plan. This will make it easier to counter any arguments or concerns with your decisions.
Another attribute of a leader, one that is lost on many, is the ability to listen to the people that are following you. You need to know their concerns as well as their ideas. They are part of the process that can make your organization successful. By listening to what they have to say, it will make it much easier for them to want to follow you. This is not to say you have to do what they tell you. But you have to try to take what they say into consideration when you make decisions that affect them.
Do you want a subtle approach to leadership? Try doing what the former CEO of GE, Jack Welch did. He led by letting others in his organization lead. In other words, he gave them the authority and capital they needed to get their initiatives in place. During his tenure, the company expanded $265 billion and made over 600 acquisitions.
Everyone has their own style of leadership. Whatever style you adopt, it’s likely one that will evolve over time. You’ll try out some things that will work and adopt them. You will also try things that won’t work out and find it’s best to scrap them. Some leadership traits work with certain types of people and won’t be successful with others. The guidelines from this article can give you some starting points for your journey as a leader.
Not Business Savvy? Hire Others Who Are
Not everyone has a head for business. That doesn’t mean they have to forego starting a business. They just have to find the right people that have a business mindset.
It’s okay to admit that you may not be a guru in business. In fact, it’s better to come to terms with that than try to pretend that you know what you are doing. The results of pretending could prove disastrous. There are plenty of qualified people that can get you where you want to go. They can even help determine a course of action for you.
Of course, talented people are not going to come cheap, nor should they. You should expect to pay a premium for quality people. If you try to skimp out on this, you will get what you pay for and end up having to spend more time managing poor-performing employees. And you will have to deal with firing them if they really turn out bad.
When you find the right people and you give them the necessary authority, they will more than pay for themselves. They will bring to the table the skills needed to lift your business to new heights. They will know what to do because they have the experience.
One way to save on salaries is to put your sales force on commission. Give them a base pay but offer them a higher-than-average commission rate. If your products are high margin enough, you can also offer bonus incentives.
Another way to save on salaries is to start people at a lower salary but offer them ownership in the company based on profitability. This gives them the ability to share in the profits and they will be more committed to performing because it affects their compensation. Bonuses can also be offered based on performance.
The downside to this is you will give up some of the ownership in your business. The key is to never give up controlling ownership unless you eventually plan on giving most of the business up and becoming a silent partner. You also will need to have a concept for your business that your employees believe in. They can help you with coming up with a vision.
Having quality people help you run your business can do great things towards making your business a success. As long as you empower them with the necessary tools and funding, there is no stopping where you can go with your business.