July 20, 2020

The Entrepreneur Mindset E26

39 minutes

Whether you’ve already have a business or just contemplating the idea, have you ever wondered if there is a mindset that successful entrepreneurs and business owners have? Are there traits and characteristics that determine success? I’d say yes, and today I’d like to explore what those traits are and how they craft a mindset that leads to success. Not every successful business person has all the traits we’ll discuss here, however they all have a mindset that is responsible for their success.

For those of us willing to take the risk, owning our own successful business means financial freedom. I define financial freedom as the ability to do what you want, when you want, with whomever you want.

Financial freedom could look like an entrepreneur working for themselves, paying their own bills with the enough left over to enjoy the simple life. It could look like multiple houses, expensive cars, travel, an extravagant lifestyle. My feeling is for most of us it's somewhere in between.

What does financial freedom look like for you and what are you willing to sacrifice to get it? Yes I said sacrifice. You see, starting and growing a successful business is hard. That's why 50% of businesses fail in the first 5 years according to a study done by the Harvard Business School.

For the last 15 years I’ve worked with over 1000 clients in 16 countries. I am a business coach and while I’ve worked with all sizes of companies, my passion is working with entrepreneurs and business owners who have yet to reach that $10k a month milestone. I focus on that particular goal because the first 75 to 100 thousand dollars is the hardest money to make. Once there it is easy to make double or triple that because the infrastructure is in place. You know what to do, you just need to do more of it.

So I set off to explore what it takes to be a successful entrepreneur. What I found was that it takes a certain mindset, a different way of thinking that separates the successful from the unsuccessful. We get sold a bill of goods every time we hear someone talking about how easy it is to have a successful and thriving business. It's just not true, it takes work, character, guts with a little bit of crazy thrown in.

Here's what we talked about
Timestamps:

0:30 – The traits

0:40 – Financial freedom

2:00 – What does it take to be a successful entrepreneur?

3:30 – Entrepreneur mindset defined

4:45 – Your why

7:15 – Set your goals

10:00 – Leadership traits

14:45 – Advice for starting a business

16:30 – It’s all about the doing

24:20 – Combating overwhelm – concrete techniques you can use now

31:30 – Time and work like balance

34:15 – The mindset way of thinking

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