In my previous post on “Can anyone be a successful home entrepreneur?” I’ve already explained that not everybody can be a home entrepreneur because not everybody are mentally prepared to do so. This is especially so when one who have worked for others for a long period of time. However, if you determine to become from employee to a home entrepreneur, here are 10 ways you could develop an entrepreneurial mindset.
1. Model after Successful People
Albeit elementary, this tip may actually encapsulate what you need to get done. Who else would be your best examples to help you learn the ropes?
If you really hope to have a good start as a home entrepreneur, read more about the lives of people who made it big in various industries. For example, Bill Gates, Warren Buffet, Michael Dell and other successful entrepreneurs who had started as a home entrepreneur before, see post here.
As you review their lives, you may notice that most of these successful former home entrepreneurs share the same attributes in spite of factors (such as extreme poverty, in most cases) that may bring others down. These characteristics may include a burning desire, clearly set goals, flexibility, good work ethic, intense discipline, self-motivation, an ability to see and grab opportunities as they come.
Once you identified their success formula and characteristics, you can model after them as it provides a good roadmap to success and help you to realize your dream sooner.
2. Understand Business Functions
If you think that running a home business is applying what you know, it is a big mistake! You are merely using your technical skills to do the job, just like you were employee before. Running a successful business requires knowledge of full functionality of business. It includes sales, marketing, customer services, accounting, technology, business strategy, product development, operation and etc.
You might think that running a home business does not require such full knowledges. But understanding how a business is run will help you to achieve a holistic view and which in turn improve your competitive edge in long run.
3. Learn to be Responsible & Independent
You have to be aware that when you were an employee, you used to listen to what others will tell you what to do. This may be done indirectly or otherwise. But now that you’ve chosen to become your own boss, you must realize that most of the decision making have to be done by you. You have to learn how to manage your actions and be responsible for all results including negative result.
If you want to be a successful home entrepreneur, you better learn to take responsibility for your actions so that you would gain the awareness and discipline that you’ll need to succeed in what you choose to do.
4. Take Stock on Old and New Knowledge
It pays to be well-informed. So, hit the books. There is no dearth of reading materials out there, so go ahead and take your pick. Reading can help develop those dormant qualities in you that you need for carving your own niche.
Some worthy books to purchase at nearby bookstores or online are:
• Rita Gunther McGrath’s “Entrepreneurial Mindset.”
• Tamara Monosoff’s “The Mom Inventors Handbook: How to Turn Your Idea into the Next Big Thing.”
• Barry Moltz’s “Bounce: The Art of Turning Tough Times into Triumph.”
• Jan Norman’s “What No One Ever Tells You about Starting Your Own Business.”
• Rieva Lesonsky’s “Start Your Own Business.”
Aside from that, enroll yourself in seminars and short courses you are interested in to help you further hone your skills.
5. Research & Search
Besides reading to increase your knowledge, it is important to do research to get the latest updates on your industry and profession. Today, it is so easy to do research with Internet – search with any search engines and you will instantly find loads of information, tips and ideas on what you want to find.
Such information may help to trigger new ideas for your home business. Alternatively, it helps to check whether your idea have already been commercialized elsewhere or you are just reinventing the wheels.
6. Get a Business Mentor
Entering the world of business can be framed with a few rough edges at the start. That is why you need to get a lot of information will help to jumpstart your drive and fuel your knowledge. This is where getting a business mentor is imperative. Here are a few pointers before seeking out a mentor:
- Get a One-to-One Coaching. Get a personal business coach and let him/her takes you by the hand and coach you during the startup. Trust me! It will save you tons of efforts and times. This is especially crucial because time is money to any home business owners.
- Ask for Constructive Feedback. Try out your business ideas with your mentor first and ask for constructive feedback or area of improvement. You can be surprised how fast you can learn in such way as many home entrepreneurs are overwhelmed by startup phase that they coudn’t see the problems.
- Don’t be so concerned about being too young or too old to have a mentor. Age is not actually that important when it comes to seeking out assistance from a business mentor. Likewise, age is not so important in making that change from employment to entrepreneurship. For both cases, the will to learn is more important than the age you’re in.
7. Network with Successful Entrepreneurs
It is absolutely pertinent to network with successful people from not only in your chosen field but also those who belong to various business groups. You see, aside from getting a mentor, being able to rub elbows with those who are already at the top echelon of the business ladder can be very helpful for your smooth transition towards becoming an entrepreneur.
Networking with these successful people can help not only to establish new relationship but also open up to potential business opportunities. You may also find potential business partners among them and they can assist to bring your potential home business to the next level.
8. Be Perpetually Consistent
Thinking of how to develop an entrepreneurial mindset cannot be done overnight. Rome wasn’t built in a day. So, be easy on yourself.
The idea here is to get in, develop your mindset, and strengthen your staying power in the industry. Patience may play a large role in this. Work on being perpetually consistent, and you’ll reap rewards.
9. Have a Positive Mindset and Attitude
Gathering information and learning from professionals is crucial. But there’s more to making a life of entrepreneurship work for you.
Besides the above-mentioned points, you also have to strengthen yourself by adopting and honing a positive mindset and attitude. An I-can-do-it mindset and I-can-find-a-solution-for-this attitude may help in strengthening your resolve to continue amidst potential predicaments, and give you the leverage to get things done in a successful manner. In addition, it boosts your morale and makes you more inspired to go through the transition.
10. Abandon Bad Habits
Last, abandon those bad habits that may have hampered your success in the past. This may be the hardest for you to tackle since you are dealing with those habits that already have been instilled in your system – either with you being aware or unaware of it.
To deal with this, it is recommended that you write down your strengths along with your weaknesses so you would have a better notion of where you currently stand – what else needs to be improved on, or what attributes should be changed with a more helpful trait. Be sure to be extremely honest with yourself.
Once you are able to deal with the particular traits that should be changed or abandoned, you are on the safe path to successful entrepreneurship. Give yourself a pat on the back!
Do you have any other ideas on how you can develop an entrepreneurial mindset? Do you have an entrepreneurial mindset before you started your business or you develop it along the way? How long did you take to develop it?
Please share your tips and stories in the comments.