By Shantanu Mohan
January 19, 2018
Imagine how happy you could be if you were in control of your own life. What if you decided how productive you were, what time you went to work, and how much money you made? The truth is that you can. Many people have followed a life of entrepreneurship by leaving their normal 9-5 work lives to launch out on their own!
But what about the downside? What about all those businesses that fail? Don’t entrepreneurs struggle? Of course, we do!
But, honestly, it’s all about perspective. What some entrepreneurs call failure, others call learning. What some call struggle, others call growth. It all depends on how each person looks at it. The problem here is how we choose to consider the situation. Will we view things as obstacles or as opportunities? Because truthfully, many of the negatives about entrepreneurship can actually be positives with the right frame of mind.
Let’s explore the 3 most positive mind frames that lead new business starters into the true joys of entrepreneurship.
One of the most common issues entrepreneurs face is capital, especially startup capital. This frustrates some to the point of freezing them still. They feel they don’t have enough, so they either don’t start at all or start but then stop too soon.
Other entrepreneurs, however, view this differently. They see this as an opportunity. The solution is to become resourceful; these entrepreneurs come up with new ideas to raise funds, to get out and open doors in what appear to be closed hallways.
They sell things, learn to invest, rent out a room, something, anything.
This hidden joy of entrepreneurship is that they become stronger people. Added to their already developed set of skills is the newfound resourcefulness they’ve acquired along the way.
Another issue many entrepreneurs deal with is competition. As soon as they’ve developed their idea, the company across the street has done the same.
It’s almost like when you buy a new car. Before you had the black Toyota Avalon, nobody had one. Now that you’ve got yours, you see black Toyota Avalons everywhere!
Unfortunately, many entrepreneurs give up in this situation. They feel as though someone else beat them to the punch, so they back away.
But not all of them.
Some entrepreneurs recognize this as an opportunity – the chance for innovation. Backing away from your idea when competitors mimic it is not the only option. Innovating the idea to become better than what you originally made it and what the competitor made it is also possible.
That’s when the joy of innovation comes in. The entrepreneurs who figure out how to make their idea better grow both themselves and their business.
And this results in massive satisfaction.
In addition to the first two opportunities, entrepreneurship often comes with a third challenge – having to do too much. Especially in the beginning, entrepreneurs feel as though they are doing too many things to scale the business.
It’s different than feeling overworked and under appreciated as is typical for an employee. The entrepreneur is generally happy to work long hours. The adrenaline and excitement that accompany a startup are usually enough to keep the person going.
The challenge arises when the entrepreneur knows the company needs to expand, but they can’t scale it because they handle too many of the responsibilities alone. They may be the company manager, accountant, human resource department, and customer service specialist – all at the same time.
Some entrepreneurs flatline at this point. They typically don’t quit if they’ve made it this far, but they generally stop growing as well. Then, the adrenaline fades from the initial startup and burnout begins.
Other entrepreneurs see this differently, however. They’ve heard about delegation. Many of them want to do it. The problem is that delegation is a skill., not a natural talent. And it isn’t exactly easy to learn.
But instead of freezing, some entrepreneurs view this as a chance to learn the joy of delegation. They begin to practice the skill. It’s hard at first. But they don’t give up. Then, they do it again. And again. Eventually, they get a good handle on it. Now, they aren’t wearing 7 different hats. They’re only wearing the one they’re supposed to wear – the delegator’s hat.
And that’s when the entrepreneur begins to truly experience the joy and satisfaction of a fully scaled company as the results of having learned the skill of delegation.
All in all, entrepreneurship is a rewarding experience. And yes, it has its difficulties. But the solution is to view those difficulties not as setbacks, but as setups – setups for growth and the joys that follow as a result.
And what separates the winners from the losers is the decision to enact this solution – to perceive the obstacles as actual opportunities instead. Where some see a lack of resources, others see the chance to become resourceful. Where some see difficult competitors, others see room for innovation. And where some see too many hats to wear, others see the prospect of delegation.
It’s all a matter of mindset.
And that is what makes the difference.
We invite you to contact us about how we can help you on your journey.