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4 characteristics to think like a Successful Entrepreneur

Entrepreneurs are critical to economic development. They create jobs and opportunities for the teeming
populace. Where a service is lacking, they identify the gap and put measures in place to fill the gap. And
they bring new products to the market through their various innovative mindset. Being an entrepreneur
demands a lot of brain work. Especially for those who want to be very successful entrepreneurs. It is not
enough to just come up with an idea. It requires more than that. Successful business thinkers have
characteristics that have helped them along the way in their business, and if you want to tow the path of
being an excellent business thinker, the following are the 5 characteristics:

 

1. Positive mindset

Mindset, they say, is everything. And having a positive mindset is the first thing you will need as an
entrepreneur. Yes, some risks do bother the mind, especially when it seems you are giving your all to it.
However, you need to think about the positive side. What if it goes right and that is the deal that
changes your life forever?

You require a positive mindset to inspire the rest of your team. You do not want to be the leader who
does not motivate his subordinates to expect the best outcome. If you do that, you affect the team spirit
and the sacrifice needed to see that all goals are followed through.

Know as an entrepreneur there will always be issues that you need to resolve. Having a positive mindset
means being solution-orientated and resourceful, knowing you can resolve problems as they are
presented to you.

 

2. Problem Solving

Eighty to ninety percent of entrepreneurs are in business because they identified a problem they
wanted to solve. Problem-solving is one of the key traits of an entrepreneur, and on your quest to climb
the ladder of success, you have to always solve problems as they arise in your business. Problems are
not desirable to anyone but you have to be prepared for their occurrence.

 

3. Creative mindset

Have you ever met any successful entrepreneur who has not been creative since he/she came into
business? To have a business that will succeed demands a creative mindset. You have to always think
outside of the usual ways people of doing things; think of a way to solve that problem or of a better way
to provide your services or innovation in the product you sell. “Creativity,” is said to be “the mother of
invention” and Steve Jobs, Mark Zuckerberg, The Wright Brothers, etc. would not have been known
around the world today if they had not had a creative mindset.

 

4. Flexibility

One way fits all does not work if you want to be an excellent business thinker. You have to have an open
and dynamic mindset, be open to changes, and do things differently.

 

References

  • https://aofund.org/resource/entrepreneurial-mindset-5-characteristics-to-cultivate/
  • https://www.entrepreneur.com/leadership/truly-independent-thinkers-have-these-5-traits/400737
  • https://www.insightassessment.com/article/characteristics-of-strong-critical-thinkers
  • https://www.masterclass.com/articles/strategic-thinking-guide
  • https://study.com/academy/lesson/the-five-attributes-of-strategic-thinkers.html

How to prevent Success from going to your head

Success is good. It is the victory after each business battle. The sigh of relief you breathe when each of your goals or your product sells, and you are making the income you never thought you would make.

But in some cases, people get overwhelmed with success to the point that they let it get into their heads. This can lead to pride and thinking their way and strategy is the only way there is.

There could be a risk that you are closed to opportunities and other people’s advice. These opportunities that may pave a new avenue for your business to enjoy more success.

This thinking can soon be disastrous, and when it backfires, your business could end up taking a hit. Thus, it is expedient to know when success has gotten into your head and the ways to address and avoid it.

Here are the signs that success has gone to your head:

  • You take all the credit when other team members would have helped you actualize a goal or strike a deal.
  • You stop learning.
  • You ignore feedback, especially from customers who are concerned about your product or service.

 

Understand that success can be temporary.

Just because your business might be enjoying fame and success at the moment does not mean it will remain forever. Success can be fleeting. There is a lot of competition out there. There might be low barriers to entry into your niche which might increase competition, or there may be duplicate products and services. Always look for opportunities to maintain your competitive advantage and be ready to pivot. Continuing education; and reviewing the market, your positioning, and your competitors will enable you to glean opportunities that you might not have discovered otherwise.

 

Accept Negative and Positive feedback.

Any entrepreneur who wants to succeed must be open to accepting both positive and negative feedback. Negative feedback provides the opportunity to listen to your customers and improve the products or services you are delivering. If you continually do the same thing the same way and avoid negative feedback you will never improve on what was not working.

 

References

 

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