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Ironically, not every entrepreneur has an entrepreneurial mindset. You might be asking, how is that possible? Yes, it is. Some people just wake up and think they can start-up businesses without having the skills needed to scale those businesses. Personally, I wouldn’t call those people entrepreneurs, but simply business owners. This is because true entrepreneurs have a certain mindset; a pattern of thinking that works for them. Starting a business and growing it systematically, is not for the lilyhearted. It requires a strong personality.

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Masterclass defines an entrepreneurial mindset as the mode of thinking that helps you achieve the goals of creating, developing and running your own business. This goes a long way to say that the process of owning a business is not something you wake up to, but a deliberate effort to climb the entrepreneurial ladder. In this article, I will highlight some ways by which you can develop an entrepreneurial mindset.

Goal setting

To develop yourself as an entrepreneur, you must have the art of goal setting. This involves setting clear and SMART goals. As an entrepreneur, you will possibly have ideas strolling in your head from time to time. Your ability to brainstorm and write them down will differentiate you from a random fellow on the street. When these ideas come to you, set goals and write them down. What is written on paper is better than what is locked up in the head.

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Positive attitude to failure

Your perception of failure goes a long way to determining how you handle yourself and your business. Someone once said that failing is not bad, but what you do with failure is what matters. That you failed at something does not make you a failure, it only means that you just learnt another way not to do that particular thing. Have a positive attitude towards failure and you will see great things emanate from your mistakes.

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One of the greatest disservices you can do to yourself is not to be decisive. You should be able to make decisions on what you want your business to look like and how to go about it. In fact, it is the base of everything. You need to be strong-willed, not that you should not take counsel from the right sources, but you should have your own standpoint. Know what you want and go for it. If you are carried away by every wind, you wont be able to go far in business. Make decisions with confidence. This will help you greatly when you are faced with difficult situations.

Developing an entrepreneurial mindset is the first thing you should focus on while embarking on your entrepreneurial journey. It is important you put these things into practise in order to achieve the business of your dreams.

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This article was first published on 4th July 2022


Chidiogo Shalom Akaelu holds a degree in English and Literary Studies, from the University of Nigeria. She is a freelance writer, editor and founder of Loana Press, a budding online publishing outlet.

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