Note from Founder: Hello this is Anthony Fasano, P.E., founder of the Engineering Management Institute (EMI). At EMI we are focused on helping engineers become more effective managers and leaders. In this post, guest author Johanna Cider talks about the importance an entrepreneurial mindset can have when growing a business. Well, I believe that this mindset can also help you in growing a successful engineering career and becoming a partner/owner in your engineering company. Enjoy the article, and please consider implementing some of the recommended strategies, whether you’re a student or an owner…
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If you’re starting out in the business world, you might feel a little overwhelmed with all of the information out there. You’ve probably been doing plenty of research, and you might’ve come across the idea of an entrepreneurial mindset, which is, above all, a mindset that will help you to succeed in the world of business. The essentials of an entrepreneurial mindset are, among other characteristics, the lack of fear when it comes to innovation and taking risks, and the ability to take failures into stride. If you consider yourself an entrepreneur, it’s important to know why entrepreneurial mindset is important for business.
1. Thinking like an entrepreneur will help you right from the beginning
You have a plan for your business, you’ve figured out all the details, and you’re ready to start making money, but it’s normal to feel worried or anxious about your new venture. Here’s where you should begin to channel your inner entrepreneur! Creating that entrepreneurial mindset will help you to think about what you’re doing and why. It will help you to know where you would like your business to lead you, and what risks you’re willing to take to succeed. If you know the answers to these questions, you’ll be ready to tackle all the challenges your new business throws at you.
2. An entrepreneurial mindset will help you in other areas of your life
Being willing to take risks and accept failure is a unique skill that isn’t relevant solely in the business world. Incorporating an entrepreneurial mindset into your everyday life will help you to minimize the importance of failure and rejection in your life. It will also help you to keep moving forward even when things are difficult. Additionally, being able to plan ahead and foresee potential problems (a key part of an entrepreneurial mindset) will help you to live a more organized, less stressful life. In turn, this will help you to better run your business.
3. Having an entrepreneurial mindset will encourage creativity
You’ve started your business, and things are going well, for the most part. There’s just that one problem…
If you’re open to innovation and willing to take risks, you’ll be more likely to think outside the box. If something isn’t working well, there may be more than one fix, and you shouldn’t always fall back on the simplest or safest method. Critical thinking is the key to a successful business, and being willing to find creative solutions even if it might mean more work will help your business greatly in the long run.
4. People trust others who seem to know what they’re doing
The old saying “fake it ‘til you make it” is especially true in business. If you do your best to think, feel, and act like an entrepreneur, people will treat you like one. By channeling an entrepreneurial mindset, you’ll be able to make new contacts with ease.
5. Thinking like an entrepreneur will enable you to take healthy breaks
Don’t overextend yourself as rest and relaxation are important. Successful entrepreneurs know that focusing entirely on business is a sure-fire way to burn out. Go on an international trip. Relax and visit new destinations. You might be surprised by the ideas and inspiration you can get by experiencing new cultures. If you’re thinking like an entrepreneur, you’ll know that taking regular breaks will actually benefit your business in the long run and that you needn’t feel guilty for indulging once in a while.
If you’re wondering how to develop your entrepreneurial mindset, rest assured that there are plenty of resources out there! To get started, you might like to jot down the names of your favorite successful businesspeople, and research how they came to success, and any advice they might have. Apply your newfound entrepreneurial mindset to your business as well as your life, and you’re sure to succeed!
About Johanna Cider:
Johanna Cider is a freelance writer based in Auckland, New Zealand with experience writing about travel and lifestyle. You can read more of her work on her Tumblr.
Please leave your comments, feedback or questions on an entrepreneurial mindset in the section below, and how it has helped you progress in your engineering career.
