Embrace your Inner Entrepreneur
We have looked at
fixed vs. growth mindset
employee vs. entrepreneur mindset
small business owner vs. entrepreneur mindset
We have looked at how you got limited beliefs
Family and Friends
What can limit your beliefs
Work as taught in school
We looked at how to recognize your limiting beliefs
How to reframe your beliefs to be positive
Action to help create positive beliefs
Now we are looking at growth mindset vs. entrepreneurial mindset
There are differences
Growth mindset refers to a broader kind of mindset whereas the entrepreneur mindset is more specific.
However, the two share several common behaviors and characteristics.
Positivity: No matter what happens, an entrepreneur can frame it in a positive light
Learn from Failure: Entrepreneurs generally don’t achieve success on the first try.
Perseverance: Just like the growth mindset, a key characteristic of the entrepreneur mindset is perseverance
Delegate to Others: People with the entrepreneur mindset don’t try to do everything themselves
Love of Learning: The entrepreneur mindset loves to learn new things.
Intuitive: Entrepreneurs are risk-takers but these aren’t just random risks taken for no reason at all
Follow-Through: Entrepreneurs are always on the lookout for new opportunities
Flexible: One thing that the entrepreneur and growth mindsets have in common is that they are flexible
Non-Conformist: Entrepreneurs are not afraid to stand out and appear crazy to others.
Goal Setters: People with the entrepreneur mindset set goals as a way to push themselves forward
Good Company: Finally, entrepreneurs surround themselves with other entrepreneurs, positive influences, and like-minded souls
As you went over the above qualities of the entrepreneur mindset, where did you find yourself?
Did you feel that many of them applied to you?
Could you see areas where you can change or improve?
Schools and workplaces are hierarchical.
Instruction and evaluation come from above.
Those in positions of authority have all the answers and know best.
We learn this chain of command from early on.
We also learn that questioning the status quo and challenging authority can land you in a great deal of trouble.
You need to Follow Rules.
This hierarchical system naturally requires rules and discipline.
A great deal of a child’s first few years at school involve learning how to sit, line-up, talk, behave, eat, and so on.
There is clearly a need to maintain order for management purposes, but we carry this reliance on rules into adulthood, where it doesn’t serve us so well.
You need to Learn and Then Do.
Tasks in school are given to children with instructions, examples, and demonstrations.
We read about concepts before applying them.
Learning starts with theory and ends with practice and actually doing something.
This is the opposite of the entrepreneurial mindset, which sees trying something as the first step, with the learning coming afterward.
Another key area of life where limiting beliefs hurt entrepreneurs is money and finances. These ideas usually originate within the family through the things that parents say to their children.
Common limiting beliefs include things like:
“Money is the root of all evil”
“People with money cheated to get it”
“There is never enough money”
“You have to sacrifice if you want to buy (enter any item here)”
“We’ll never be able to retire”
These limiting beliefs express feelings of guilt, hopelessness, or scarcity about money. Obviously, these are feelings that are not useful for an entrepreneur.
Early educational experiences can also play a part in shaping limiting beliefs about what ‘work’ is. The current education system in most countries focuses on learning whatever is needed to pass an exam. It doesn’t train children to become adult entrepreneurs, freelance workers, or small business owners. As society changes, there is a lag in the education system, which is still following the old model.
This old model involves working for a set period of time doing tasks assigned to you by a boss. For this work, you receive a check for an agreed-upon amount. Through obeying your boss, working hard, and producing value to the company, you may then be allowed a better position or higher pay.
This model fundamentally clashes with the entrepreneur mindset. In this model, workers are rewarded for obedience and their ability to minimize risk. Accepting risks and taking on challenges, however, are key to success as an entrepreneur.
What is the source of your Limiting Beliefs on Mindset Monday
Limiting beliefs come from an actual place in your lifetime experience. Entrepreneurs often fail because they cling to limiting beliefs they’ve been conditioned to hold.
Limiting beliefs come from experience, and they can often come from very early life experience. They can even come from early childhood education. Generally speaking, society doesn’t raise children to become adults who think like entrepreneurs. In order to fit into society as adults, we are conditioned to think in more fixed mindset terms, especially as they relate to intelligence, money, and authority.
Once you can recognize the inner critic, you can learn to control it.
The way that you interpret challenges, obstacles, or criticism that you face is up to you. But this is the most challenging step for most people. It is difficult to reframe the voice when you have well-grooved patterns.
The way to think about reframing is to imagine giving advice to a friend.
Naturally, you would never use a harsh, critical voice when trying to help a friend.
If you would never do this with a friend, why are you doing it with yourself?
We are generally harsher on ourselves than we are with others, so instead of talking to yourself, imagine that you’re giving advice to a good friend.
Now, imagine that you’re giving them advice and reframe the negative statement that was made
After reframing comes action.
What challenges can you take on in order to foster and nurture a growth mindset?
What challenges have you been avoiding?
Choose a challenge and try it again, but this time, turn your fixed mindset around.
Find a work-related or personal task that you’ve either been shying away from doing or that you feel you’ve failed at.
For example, perhaps you always put work first and your eating habits are not the best. How can you challenge yourself to create better eating habits?
Maybe there is a skill you’ve been wanting to learn such as cooking but the idea of trying again gives you a sense of anxiety.
There might be an important client you’ve been meaning to contact but shying away from.
Start with one challenge, and you can then apply it to the next challenge once you have success with the first.