Among the biggest hurdles faced by salaried workers who want to dabble in managing their own business is not money and/or motivation. It’s the need to change from the “I-am-an-employee,” mindset to the “I-am-an-entrepreneur” mindset.

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What’s it like on the opposite side (being a business owner/entrepreneur)?

If you think being an entrepreneur is just to make sales, then think again. Your way of thinking as an employee no longer works if you want to be an entrepreneur. Dependability on salary, getting approval from bosses and colleagues are things of the past. Instead, to move forward in a dog-eat-dog world, an entrepreneur relies on his self-belief.

Get used to being uncomfortable. Never fear putting your name out, ignore what people say about you, and never fear failure or embarrassment.

Becoming a business owner regardless of the type and size of the business is a perilous journey full of fear-inducing events. But, when there is a risk, there is the reward. Your ability to discard the worker mentality to one with business visions will ensure your success.

So, what are the changes you need to make to your mindset if you want to become a business owner or an entrepreneur?

The below are 7 key mindsets of an entrepreneur you must cultivate:

Mindset 1. Energetic and full of passion in their work

“If you’re starting something on your holding, you better have a passion for it, because this is hard work.” ~Sallie Krawcheck, co-founder of Ellevest

Entrepreneurs are passionate about their work. Being passionate means that they brings in endless fuel and stamina that continues to drive their business forward. This excellent energy helps to overcome various challenges and injects unimaginable strength to continue pursuing ambitions in the face of adversity.

They think that work is a hobby. To ensure the success of their business, they give their hundred percent in dedication and focus. They also understand that the purpose of starting a business is not just for money. Employees who earn their monthly salary just want to spend their day finishing up the daily task list. How well the employee does the work is not important. But for entrepreneurs, they will devote their entire heart and energy to their work.

So, if you can focus on the work that is important to you, you will succeed as an entrepreneur.

Mindset 2. Not afraid of failure or making mistakes

“See failure as the beginning and the middle, but never entertain it as an end.” ~Jessica Herrin, founder and CEO of Stella & Dot

Making a mistake or failing in something is sometimes inevitable. If you can not accept a mistake, how can you learn and grow? Or get fresh ideas? This also means your growth will be minimal. Keep in mind that to reach the expert level in any field there must be persistence and consistency.

Employees will feel slighted when reprimanded for wrongdoings. If they don’t like it, they just resign or look for an alternative.

The ability to recover after failure is an important characteristic of entrepreneurs. If you make a mistake, don’t get discouraged. Just get up and do it better the next time. What is important is what you have learned from these experiences and how these lessons or experiences apply to your future projects.

Mindset 3. Create value and solve problems

“Try not to become a man of success. Rather become a man of value.” ~Albert Einstein

Entrepreneurs are always looking for ways to improve or do things better. They take ownership of their tasks. Entrepreneurs know that there are many obstacles to doing something valuable. They learn to take responsibility for their actions and find a way for things to work out.

Entrepreneurs make sure that every project they work on is successful despite the obstacles. They do not go around blaming, complaining and justifying. Instead, they spend time to find solutions to ensure all undertaken projects are successful.

Mindset 4. Always in working mode. Love working.

“I’m convinced that about half of what separates successful entrepreneurs from the nonsuccessful ones is pure perseverance.” ~Steve Jobs, co-founder of Apple

Running a business and ensuring that it is progressing well and smooth requires a lot of work. Entrepreneurs realize that and are ever ready to put in the amount of work necessary to ensure daily progress.

The employees are only interested in getting the job done so they can get their monthly salary. Whereas entrepreneurs have invested a lot of time and effort in building up their business, oftentimes they blur the lines between work and family life.

Entrepreneurs will do anything to reach their goals. Even when business people get wrecked, their business person mentality permits them to be sufficiently versatile to get back up again and again.

Mindset 5. Focus

“Don’t get distracted. Never tell yourself that you need to be the biggest brand in the whole world. Start by working on what you need at the present moment and then what you need to do tomorrow. So set yourself manageable targets.” -Jas Bagniewski, Co-Founder of Eve Sleep

This trait is the most important factor in achieving success as an entrepreneur.

The possibilities for success are many. And, that means there are also plenty of opportunities. This can easily distract us anytime and everywhere.

The entrepreneur creates the ability to focus in order to maximize their resources.

Mindset 6. Comfortable taking risks… calculated risks

“The biggest risk is not taking any risk… In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” ~Mark Zuckerberg, founder & CEO of Facebook

Do you know why most employees won’t start a business? Often the answer is security. Their day occupation provides that. It’s too risky not having a pension, regular salary, or medical coverage.

However, the opposite is true for entrepreneurs. They flourish with risk. Risk provides them with rewards, and this motivates them further.

“Whenever you see a successful business, someone once made a courageous decision.” ~Peter Drucker, management consultant & author

Mindset 7. Responsible and take ownership of their work

“Until you take ownership for your life, you will always be chasing happiness.”
~Sean Stephenson, therapist & author

Entrepreneurs are amazingly responsible. If they don’t bring in the result expected, they consider having failed the company.

Most of us like to just sit and relax, have a great time with friends on outings. And the amazing part is to expect money to fall to our lap while doing no work!

Sadly, the reality of money doesn’t work that way and entrepreneurs understand this reality – work hard and be disciplined.

Conclusion

Entrepreneurship is a way of thinking. Even if you are an employee, you can learn and have an entrepreneur’s mind. Learn how to take action (be proactive). Many business owners start as employees and then learn the basics of business while building/striving to achieve their goals.

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I am sure there are some other mindsets an entrepreneur MUST possess. What’s yours?