“I have not failed. I’ve just found 10,000 ways that won’t work,” Thomas Edison famously stated while he worked hard to create the first practical incandescent light bulb. His unwavering dedication to succeed and his belief that failure was part of the journey rather than a setback is what we remember today, a century later, as the true spirit of entrepreneurship. Being an entrepreneur requires not only intelligence and technical skills (after all, Edison patented 1,093 different inventions during his life), but also a lot of passion. It demands serious commitment and mental strength to provide the best products and services. Here are 10 ways to combine both the mind and heart of an entrepreneur:
- Invest In Yourself
The best entrepreneurs in the world know how important it is to invest in themselves. This involves spending time and money to find and use resources that enhance their knowledge of the markets and industries they are part of. This includes reading top industry books, reports, magazines, and newsletters. It also means joining local, national, and international business groups to connect with other leading business figures and entrepreneurs, and furthering their business education by going to seminars and workshops. If you want to have the mindset of an entrepreneur, it begins with self-investment.
“I devote at least 25 percent of my workweek to my own development,” says Mike Brcic, founder and Chief Happiness Officer at Sacred Rides, an award-winning mountain bike tour company based in Toronto, Canada. “I have over 300 business and entrepreneurship books in my library, I subscribe to eight different magazines, and I attend over 30 entrepreneurship and leadership-focused events a year. As the leader of the company, my job is to lead the company – and the best way to do that is to learn as much as I can about how to run a successful business.”
- Fuel Your Passion
You won’t get far as an entrepreneur without fiery passion for what you do. Your passion feeds your head and your heart, gets you through the work day, and many sleepless nights. Fuel your passion by taking ownership of the work you do; don’t blame others for missteps or setbacks, recognize that you are the one captaining the ship and are ultimately responsible for both the failures and successes. You can also fuel your passion by ensuring that you are having fun. If you’re stressed out constantly, it’s going to be very hard to feel passionate. Spice up your workday with all the things that will help you remember why you’re working so hard in the first place.
- Don’t be Afraid to Take Risks
To have the head and heart of an entrepreneur, you must definitely be willing to take risks. Stepping into the unknown is a regular occurrence for top entrepreneurs; they understand that moving into the unknown can mean serious business and new potential sources of revenue. However, it doesn’t mean they do so without a plan. Top entrepreneurs certainly take risks, but they always calculate the risks they get involved in. This means carefully appropriating resources and establishing secure back up plans in case the venture goes belly-up a week, month, or a year from now.
- Network, Network, Network
Even if you have a great product or service, those with heads and hearts of entrepreneurs understand that “who you know” is often the difference between a successful venture and a failed one. Networking is constantly on the mind of top entrepreneurs—they eat, sleep, and breathe the world of getting to know new people, making connections, and discussing their business. The best way to do this? Attend conferences, seminars, meet-ups, festivals, and any other event that celebrates or highlights business. Offering a free meal to someone you’re dying to get to know never hurts either.
- Be Customer Focused
Having the head of an entrepreneur means that everything is about the customers. Top entrepreneurs recognize that without their customers, they have nothing. While you’ll be tempted to develop tunnel vision around the revenue that your customers bring in for you, at the end of the day, your focus needs to be on your clientele. After all, they’re the group that ultimately decides the level and degree of your success.
- Get Organized
Organization is absolutely key to having the head of an entrepreneur. Without systems, processes, and routines you’ll quickly find everything getting out of whack. You can start by organizing your calendar, whether it’s on your computer, in your planner, or on your smartphone. Ensure that you block time off each day for the most important things—this includes family and friends! As you carefully plan your time, you’ll find yourself able to complete more with a lot less stress.
- Build A Positive Work Space
Environment is key. Building a positive, productive work space will help you to successfully develop the head and heart of an entrepreneur. This can include anything from adjusting the temperature, placing some greenery around your desk, or hanging up inspirational quotes or images around the room. Creating a work space that you want to be in will increase your desire to work, and will actually help you become more efficient.
- Follow The Money
To have the head and heart of an entrepreneur, you have to follow the money. The very first thing you can do to follow the trail of Benjamin’s is to know your market or vertical. Focus your time and energy on discovering the niche that is somehow being overlooked. Another strategy you can employ to increase your revenue stream is taking a good hard look at your sales. Using predictive analytics software is a very popular, and highly recommended tool for those entrepreneurs interested in securing greater cash flow. Sift through the data you have, to make decisions that will ultimately drive you and your business to success.
- Outwork Everyone Else
In the race to be the best entrepreneur, it is most often those with high levels of endurance who win the top prizes. Outworking your competitors doesn’t necessarily mean you need to be smarter than them, but it certainly means you must have some psychological stamina. It takes a lot to work that extra hour or two, or call two to three more people at the end of a very long day; however, outworking everyone else is what helps you acquire the heart of an entrepreneur.
- Adapt And Move On
Developing both the head and heart of an entrepreneur definitely requires some adaptability. Being flexible with customers, adjusting to market needs, or tweaking your product or service is what will allow you to thrive and survive in your business endeavors. It certainly takes passion, planning, and discipline to become a top entrepreneur, but it is those who adapt that do not die early.
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