keyboard_backspaceBack to main blog page

Business Advice

Business Advice | Business Tips

Why you must adopt the mindset before going From Employee to Entrepreneur

Terrel Watkins Terrel Watkins , 8/23/2018
This content has not been rated yet.

A lot of people dream of being entrepreneurs running their own businesses, raking in the profits and not having to answer to anyone. Being your own boss and taking trips to exotic beaches is just the fun part of being an entrepreneur. There is a lot that goes into achieving this, and it all starts with adopting the entrepreneur mindset.

https://www.flickr.com/photos/148114704@N05/34353259262/

You cannot go into business with an employee mindset as you will mess up a lot of things. Entrepreneurs are virtually the opposite of employees, but it doesn’t mean those good employees can’t make good entrepreneurs. It all depends on how you approach the situation from the start. Let’s look at why it’s essential to adopt the mindset before going into entrepreneurship.

Risk-taking will always be there

Unlike employees who avoid taking risks, entrepreneurs are required to take calculated risks. In this regard, you need to change your mindset from taking the most accessible route to being comfortable plunging into murky waters. Once you have your mind set, disappointments wouldn't hit you as hard as it would if you weren’t ready.

Mistakes should be good

Unlike employees who are always striving to perfect everything, entrepreneurs make mistakes and learn from them. In this regard, you need to be set to fail and make mistakes. Once you understand that you can learn from your mistakes, you won’t be afraid to make some during the entrepreneurial journey.

Numbers need to be your friends

If you don’t like numbers, you will have to learn how to love them because numbers mean everything to a business. Doesn’t matter what business you are into data always plays a huge role in transforming a business. You will be thinking about profit margins, new acquisitions, customer reach, employee compensation, product costs and virtually everything around a business. However, unlike being an employee, you will translate everything into data and it’s good to be ready for that. For instance, once a proposal is sent to your desk for a specific project, it means there are costs to be incurred and profits to be made, so it’s up to you to calculate them. Even if you have an automated time management system such as index time clock, you will still need to interpret the data collected.

You need to be comfortable with being uncomfortable

Unlike employees who have it nice in the office, an entrepreneur will be in most cases uncomfortable with absolute truths. You should be prepared to work with disrespectful suppliers, unscrupulous businesspeople, biased middlemen and harsh authorities among others at the worst. If you have your mindset ready, it would be a challenge to handle these kinds of people. Furthermore, you should be prepared to deal with all sorts of people in general unlike employees who are used to a decent workplace environment.