THE BIZ MINDSET HACKS - DAY 8 -Path of Unpredictability
Dedicating FEBRUARY in Support of Your Business Success Mindset
INNOVATE - EVOLVE - GROW
Do you ever wonder why some people have the ability to bounce from success to success, without falter?
To be clear, no one has that ability, but it can seem like that.
We need more than motivational quotes to succeed. There are many mindsets, skills, and attributes required for success as a business owner & entrepreneur.
Fortunately, most of them can be learned, strengthened, and honed through diligence and a willingness to grow.
Having a growth success mindset as an entrepreneur will enable you to deal more effectively with the day-to-day of your business. Because you will be thinking – and acting – like a true entrepreneur.
Business Mindset Definition
Business mindset: a way of thinking that enables you to uncover and see problems as opportunities, and then turning those opportunities into a business. It is an understanding that everything around us is the result of someone having an idea and then executing it.
Every day we'll be sharing one business mind hack at a time that will dramatically improve your business – and life.
We invite you to join our conversation with your thoughts and supportive comments of wisdom, experience, ways forward, mind-hacks, tips and advice.
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PATH OF UNPREDICTABILITY
I had known I wanted to start a company for a while, but it’s difficult to walk away from a secure payday. It was a hard decision that took me longer than I would have liked.
It was easy to see how I could be making more money working for bigger, more established institutions, so I drew two lines to compare. I drew a line of stability and predictability at a high level of income, where I would be if I had stayed in the path I was in.
I then drew a second, lower line that would be what I could expect as an entrepreneur: bootstrapping a company, not paying myself a salary for a few years trying to make ends meet, and with more uncertainty in the long term.
Jon Stein, founder of Betterment
This is not the type of thing most of you would do, but it might be the business mindset you need to succeed. I know for myself that it took me a long time to take the leap from a secure corporate position to where I am right now. Looking back - I have no regrets!
Jon Stein is analytical, so he modelled and planned two potential paths. On the one hand, there is the path of stability with high-paying and powerful jobs, which is predictable.
Jon didn’t found a small company in an easy market but stayed in the world of banking and investments. Even though that is an incredibly difficult market, he knew it was the right place for him. He could afford to bootstrap a company for a few years without paying himself a salary and was still comfortable with the whole idea.
There is no right or wrong approach – just follow the method that feels right to you. We have to figure out for ourselves what will shift our mindset in order to take the leap. Become comfortable being uncomfortable.
It’s your turn to implement this business mind hack
Learning how to have a business mindset will affect your success or failure in business. Luckily, your mindset is also the thing you have the most control over. Choose one mindset shift to adopt at a time and begin working on its development.
As you become more confident and comfortable with this new mindset, move onto the next. Push yourself to be one percent better than you were yesterday, and start with changing your mindset.
Developing these success mindsets will give you the resilience and direction you need to push through the ups and downs that come with running a business.