Different people have different opinions about who entrepreneurs are and what makes them who they are.
Unfortunately, what separates entrepreneurs from employees isn’t talents or gifts, as many want to believe. Instead, the major difference between an entrepreneur and an employee is the mindset. That’s why most people fail whenever they try to be entrepreneurs with an employee mindset.
According to the U.S. Census and Bureau of Labor Statistics, half of the small businesses fail within the first five years, yet about 27 million working-age Americans keep starting new businesses, according to a report from Global Entrepreneurship Monitor (GEM).
Jeff Hilimire, CEO of Dragon Army, a company that develops mobile strategy and applications, says, “Most employees of a company wait to be told what to do and often struggle when roadblocks are presented. If they have an entrepreneurial mindset, they’ll look to tackle those problems head-on and solve the problems creatively.”
In this blog post, we’ll be sharing with you how entrepreneurs think vs how employees think.
Entrepreneurs are passionate
Entrepreneurs are passionate about what they do. Hence, they are focused and dedicate all they have to the success of their business. They build their businesses from the ground up, sacrificing a lot.
Also, Entrepreneurs understand the purpose for which they started the business- which is usually beyond the fact that they are only interested in making money.
Unlike most employees that are only concerned about completing their daily tasks, whether they do it well or not, entrepreneurs, on the other hand, throw themselves, mind and body, into their work.
So, if you can focus on doing work that you truly care about, you’ll be more likely to find success as an entrepreneur.
Entrepreneurs are not scared of mistakes
Mistakes/failures are inevitable. And if you are not willing to embrace mistakes, you will be unable to come up with fresh ideas, which means your growth rate will be minimal.
Employees, on the other hand, are usually discouraged when they encounter mistakes/failures and all they want to do is abandon the project and look for alternatives, forgetting that they’ll still encounter similar experiences elsewhere. Remember, it takes consistency to attain mastery in any given field.
According to research from the Journal of Small Business and Enterprise Development, being able to bounce back from failure is a key characteristic of successful business owners.
So, when you make a mistake, do not lose your enthusiasm, instead improve with every fall. Think about the lessons you can learn from the experience and how can you apply the lessons learned to your future projects.
Entrepreneurs create value and take ownership
Entrepreneurs look for ways to improve things, make changes for the better, and take ownership of their work.
Because entrepreneurs know that there will always be obstacles in the way when creating something really valuable, they learn to take responsibility for their actions and find a way to make things work, even when it is hard.
They do not go about blaming, justifying, and complaining, instead, they take ownership of their work and ensure each project yield success in spite of the obstacles they encounter. In other words, Entrepreneurs are “no excuses” people who are willing to accept that they don’t know everything, and they take ownership of finding solutions.
Entrepreneurs are ready to work
It takes a lot of work to get a business up and running. Entrepreneurs recognize this and are willing to put in the amount of work required to make progress daily.
Unlike most employees who only think of how to hurriedly complete a task in order to get their pay, entrepreneurs invest a lot of time and energy into their business, blurring the line between work and home life. Entrepreneurs will do whatever it takes to follow their dreams.
According to Henry Ford, founder of the Ford Motor Company, who wrote in McClure’s Magazine sometime back in 1923, “I do not believe a man can ever leave his business. He ought to think of it by day and dream of it by night.”
Even when entrepreneurs get knocked down, their entrepreneurial mindset allows them to be resilient enough to get back up over and over.
Entrepreneurs know how to sell themselves
Unlike most employees who think that sales and marketing aren’t something they are interested in doing or something they should even bother themselves learning how to do, successful entrepreneurs know the fundamental need to sell their ideas and eventually their offers, even when they are not in business development.
Note that those who have skills in selling will grow in influence and value to the organization, and entrepreneurs are people who know how to sell ideas to their team members and leaders.
Entrepreneurs are willing to take calculated risks
In an interview with Jeff Bezos, founder of Amazon.com, he said, “The common question that gets asked in business is, why? That’s a good question, but an equally valid question is, why not?”
Entrepreneurs, unlike employees, aren’t afraid to do things that scare them. As a matter of fact, Entrepreneurs like to get their hands dirty and do things other people are scared of doing. And as the saying goes, the bigger the risk, the greater the reward.
Entrepreneurs are accountable
Entrepreneurs, as a rule, are incredibly accountable. At the end of the day, if they don’t deliver, then their company fails.
Every one of us, most of the time, like to lazy around, relax, have fun, and expect money to come to us without doing anything.
Unfortunately, the rule of wealth doesn’t work that way. We need to be disciplined and work hard if we are going to be successful. Entrepreneurs understand this fact. So, they make sure they are accountable to themselves to achieve their goals via discipline and hard work.
In conclusion, entrepreneurship is a mindset. You can be an employee and still have an entrepreneurial mindset. The most important thing is to learn how to take action (be proactive).
As a matter of fact, most entrepreneurs and business owners started off as employees, learning certain business tricks while building/working towards achieving their goals.