“My boss is an idiot”
“I need to get out of here. It’s too stressful”
“How much easier would it be if I was my own boss?”
If these are the thoughts running through your mind right now – stop right there. You are not suited to become an entrepreneur. The next move for you is almost certainly another job within a different company, or even a frank conversation with your boss.
However, if you have the right mindset, starting your own business could be the right path for you!
So, have you got an entrepreneurial mindset?
Fear is a big motivator for some people. They thrive on uncomfortable situations as they know it is the only way they can create the change needed to find success. Obviously there are difficult people who like an argument and will go out their way to pick a fight but that’s not what we’re talking about.
We’re talking about the thrill of knowing something might not succeed, or the pressure of bringing in enough money to make payroll that month. For some this is an exhilarating experience. They have an inherent faith in their own ability and are absolutely convinced that the path they are on, and the end goal they are aiming for, is right and nothing will stop them.
A major part of the entrepreneurial mindset is being comfortable in the knowledge that mistakes will happen. Entrepreneurs know that you will learn very little from success – to succeed you need to make mistakes. However, for those working in the corporate world, the fear of making a mistake stifles any development.
That’s not to say that entrepreneurs are wild – always throwing caution to the wind and their past is littered with failures – just they are not afraid to take calculated risks.
An entrepreneur doesn’t feel the need to be the smartest person in the room. As we mentioned, having faith in your own ability is a pre-requisite of a good entrepreneur. However, those running the most successful start-ups always target specialists in their field for recruitment – people that know their area inside out. As much as we’d all like to be, it’s not possible to be an expert in every area of business. Trying to be is a waste of time and resources.
So successful entrepreneurs focus on surrounding themselves with the best and brightest. They are not scared of being challenged because they are driven to find the best solution for the customers of the business – no matter who comes up with it.
Taking the leap
If you’re convinced you have the right mindset to start out on your own there are a few other things to consider before you jump.
The responsibility is yours
Don’t look around sheepishly. There is no one else who will take responsibility for the challenges facing your business. In the early days you are responsible for every aspect of business. You will have the final say – which is great – but you will also be responsible when things go wrong. It is important you are prepared for this role as it will be unrelenting.
The shining light
You are also the person who, when everyone else is feeling the pressure of work and starting to question the feasibility of the project, needs to come in with a smile on their face and inspire the troops. You need to be the energy and the inspiration for everyone else, no matter how hard your day is and what challenges lie around the corner.
Responsibility for others
This is perhaps one the most important areas to think about, but also one of areas that a real entrepreneur will take in their stride. When you start out on your own and find those talented individuals to join your team, you are responsible for paying them. That is the money they use to pay their mortgage, put food on the table, and whatever else they choose to do with their money.
Not to lay it on thick, but that is quite an undertaking. However, as mentioned, real passionate, driven entrepreneurs are conscious of this and take it all in their stride. Make sure you are that person – any hint of a lack of confidence in your idea, or that your belief in your own ability is wavering, and no one will trust their future with you.
Become an entrepreneur
There is a lot to take on when you decide to leap from that cushy, regular pay cheque and start out on your own.
The responsibility for others, the need to inspire a team, answer any and every question from your staff and customers, employ the brightest and best while at the same time accepting and dealing with numerous failures before finally being successful is quite an undertaking.
However, as we’ve mentioned, true entrepreneurs already know this. They already think like this and have one foot out the door already. So go on, what’re you waiting for?