I have often read these powerful words, Entrepreneurship is for those who can think big. It was almost in contrast to my personality of being someone ambitious yet complacent with the success I would find with my sincere work. To think big, probably you have to be the person who constantly strives for success & works towards climbing the upper most pedestal even before you have climbed the nearest next.
The Article was first published by Ms. Priyanka Singh on her linkedin pulse blog, the article is republished here with the authors’ permission
It seemed like a distant thought that I would one day venture out on the journey of Entrepreneurship, when I hardly believed in thinking beyond the goal in focus. It always was so unlike me to broaden my horizon and to have a vision. As Kevin D Johnson (Founder & CEO of Johnson Media Inc.) mentions in his book -The Entrepreneur Mind, Entrepreneur’s job is not to think out of the box but more to own the box. Sure, things did change over the last few years, with a little nudge from a motivating partner. The new calling was to ‘create’ something of our own, to practice what we have done for assets owned by big corporates in our professional stint so far, the only big limitation being resources of course.
So, what does it take really to be an entrepreneur, I figured out over the last two years, it is nothing but the ‘mindset’. If you do not possess one favoring entrepreneurship, yet dream to create something of your own, you must ‘cultivate’ one. Train your mind to be an entrepreneur. You must most certainly build the entrepreneurial mindset before you actually embark on your remarkable expedition. Here are a few of my observations towards training my mind:
Believe in your Plan: Nothing gives you a thrust more than passion for something. If you set out to chase something you are convinced about, it is a lot easier for you to pursue partners & your potential consumers. When you are still on the drawing board, there may be an ambiguity about the how but never be ambiguous about why of what you plan to do. Your why can be internally or externally motivated or you may have more than one, but it always helps to have it in place. It acts as a solid anchor for you to be reassured with your plan.
Don’t wait for the perfect timing: People have often associated entrepreneurship with taking risks, maybe that’s how it took me about 3 years to step aside everything else & get into the shoes of a founder. Most of us evaluate the risk and the opportunity cost based on our financial & professional achievement at that very time and delay taking that first step. Little do we realize, that as we procrastinate the decision, the stake is always more.
The First Step is never a full-fledged Establishment: I am sure if you have spoken at length with your friends or colleagues who are first generation business owners, you would know that their first step towards their venture was way before they actually established their company. The first step is to have an idea that when put to test with the target consumer will invoke a favorable response, as it can in some way contribute to their new & better ways of life. The inception of your business is in your mind & that’s your first step towards entrepreneurship.
Have Obligations & Deadlines: Stress is not always counter-productive, isn’t it? Having obligations and deadlines will lead to stress & it works beautifully to keep you true to your path especially if you start your business all alone. In case of a partnership, partners act as a harness and keep you on your toes and you do the same with them, because everything you or they do is potentially at the risk of objection by partners. However when you start solo, you have a tendency to be too comfortable with a pace of your own. Having obligations & deadlines carved out will ensure you perform better. Probably, which is why the larger corporations have shareholders, excluding the financial prudence, having them on board makes you liable for & answerable for your performance & that creates an atmosphere of positive stress. A small example is having invested my money on registering my company itself put me in an obligation to move forward. Another one is having tested my idea with a few consumer with a positive feedback, brought in another obligation to go for it rather repenting in later years and feel sorry to have let it pass.
Read, listen, talk & Get Inspired: The most crucial step towards training the mind is to read or listen to people who have made it Big & talk to them about your idea at any given opportunity. Inspiration to mind is like water to plants. The more inspired you keep your mind by emulating success stories, the better the chances that you will be proud of your own journey.
PS: My Training is ongoing, as I transcend a little every day, to dream big & inch closer to realize it. As I often joke around with my pals, I shall set an example, a good one or a bad one, the time shall disclose.
Priyanka Singh
