It's Time To Start Thinking Like An Entrepreneur

Last Update: October 02, 2019

Most of us who join Wealthy Affiliate do so with the intention of eventually being able to make a full-time living from our online business - or at least enough money to enjoy a few extra luxuries in life.

However to make this happen we need to make some subtle but very important changes to the way we think. In many cases this is easier said than done because many of these thought processes are ingrained in us from a young age. It's the way we are taught to think at school and it's the way most "normal people" think.

It's time to realize that you are not "normal" - you are an Entrepreneur! And Entrepreneurs view things in very different ways.

Employee Mindset V Entrepreneur Mindset

Here's a few examples of how these two mindsets differ:

1: Fixed rewards for time spent working. This is the classical employee mindset and its what we are generally all taught and believe to be the way to work. You learn some skills, get a job that utilizes those skills, and then work 40-45 hours per week for an employer who pays you a set wage for those hours of work. As an entrepreneur there is absolutely no limit on the rewards you can earn from the time you spend working and you also decide how much time that is.

2: Risk Taking. Most of us are quite averse to taking risks - possibly from bad experiences in the past. Certainly as an employee you don't want to risk your job by doing something that might not work out or cost the company money. As an entrepreneur you must become happy with taking calculated risks. I emphasize the phrase calculated risks. It's likely that you will have to spend some money on training and resources to succeed and there is a possibility that you will lose everything you invest in your business. An entrepreneur weighs up the pros and cons and makes a decision on each risk.

3: Work Ethic. As an employee you will generally make an effort to do your job well enough to get by but it's very rare to do more than is absolutely necessary. As an Entrepreneur you will need to be comfortable with the fact that you will have to do a lot of work upfront with no guarantee of any reward at the end.

4: Attitude to failure. If you are an employee and experience failure in the workplace then generally you will still get paid at the end of the month. If you have your own business then failures can be expensive or even catastrophic. An entrepreneur will accept that failures are an inevitable part of creating a business and should be viewed as learning opportunities for the future

As an entrepreneur you need to accept that there will be many challenges along the way and these are just part of the journey. There are almost always solutions available if you spend the time looking for them.

It's not an easy transition from having the employee mindset to developing the entrepreneur's mindset. It can be built over time as you gain experience in your business. One of the best ways to do this is to set goals and targets for your business and work methodically towards them.

Anyway, I hope this has given you a little food for thought. I'm off now to spend some productive time on my business. Have a great day whatever you're doing!

David



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HeidiAnders3 Premium
Two mindsets! I think this post made me search deep within to see which one I have vs the one I want. Thanks for differentiating the two! Cheers to focus today!! 🙂
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Dave07 Premium
Hi Heidi. I read your reply to my comment on your own blog post this morning and thought this post might be timely for you!
I know it's hard to think in terms of a business when there is no income yet - I can assure you it took a long time before I made any income either!
You already have a terrific little website and in a great niche too - stay at home moms or "Mompreneurs". Best of all you are the ideal person to talk about it - being a Mompreneur yourself.
Your site is exactly what product owners would like to associate with their products for affiliate offers. Heck, when I finally get my new course finished I'd love to have a wee banner on your site!
I know its fun to interact here at WA and see your ranking climb but make sure it doesn't detract from building your business.

Keep smashing it out of the park on your website too!
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HeidiAnders3 Premium
You simply are the best!!!😊
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Dave07 Premium
Lol 😂 . Thank you 😀
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Aussiemuso Premium
Great post. Yes changing your mindset to being your own boss and more is difficult and once changed, you can never go back.

All fun.

Lily 😊
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Dave07 Premium
Thanks Lily. Yes it’s important to think like an entrepreneur if you want to make it as one 🙂
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Isaiah14 Premium
I think changing our minds is one of the hardest things we can do. But it all starts with that proper mindset. Excellent post.
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Dave07 Premium
It’s definitely a difficult thing to do but we must try to act like an entrepreneur if we want to be successful
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AmazeCPS Premium
Very good, and most suitable for newcomers or people who are thinking to start new business. Risk is rinks, failures are inevitable for many business. You should have a continuous mindset not to see back reaching winning post.
Thank you very much for your article.
SAM
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Dave07 Premium
Totally agree with you. It’s good to approach these things with your eyes open though
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Zak08 Premium
Mindset is very important, a good reminder for us all.
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Dave07 Premium
Cheers Zak - thanks and glad you agree!
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