LESSON 5

MINDSETS OF
SUCCESSFUL
ENTREPRENEURS
ALTAVANO, MA. ISABELA
PANUELOS, ANGEL
SANTIAGO, KATHLEEN
 FORWARD THINKING

As the COVID-19 pandemic taught us, it's impossible to anticipate

everything the future holds. While some events are easier to plan for than
others, maintaining a future-focused mindset can help entrepreneurs
anticipate changes and respond to them more effectively. Embracing
forward thinking involves looking at your small business and figuring out
how to plan for changes that may come.
 OPEN TO NEW IDEAS

The best entrepreneurs know that new ideas come from many different sources.
Diverse perspectives from investors, employers, and customers can help
identify opportunities for new ventures within an existing company and
demonstrate adaptability in offerings.

Rather than limiting yourself to ideas that only you can envisage, make time to
speak with others and learn from them.
 SOLUTION-ORIENTED

Rather than focusing on problems, solution-oriented entrepreneurs always

look for ways to improve issues and get back on track. Entrepreneurs who
keep a positive attitude when challenges arise know that setbacks are
typically short-lived, but embracing a problem-solving mindset can provide
long-term benefits.
 NOT AFRAID OF FAILURE

When learning how to think like an entrepreneur, you need to look at

failure differently than most people.

Entrepreneurs don’t fear failure—they appreciate it.

Each “failure” is simply a stepping stone to learn from, helping move you
closer to success.
 DECISIVE

Making decisions with confidence and efficiency is essential in a situation where

many crucial decisions must be made regularly. The most successful
entrepreneurs know that dithering around decision-making or letting analysis
paralysis win can create distrust in investors and employees alike while also
stalling momentum.

Rather than letting perfection be the enemy of progress, effective business

owners focus on continuing to move forward through strong decision-making.
 FOCUSED

Successful entrepreneurs are focused on achieving their goals, never

procrastinate, and always prioritize the most important tasks.

Successful entrepreneurs know how to say "no" when necessary to keep

themselves focused on the prize. There will always be many things to distract
from the goal or sideline you from important work, so learning this skill early
on can be greatly beneficial.
 CONFIDENT

Without confidence, the world would have far fewer entrepreneurs and
startups. Believing in yourself and your idea is critical to the
entrepreneurial mindset, as those lacking confidence are far more likely to
give up at the first hurdle—and there will be many hurdles. Rather than
letting fear or self-doubt take over rational thinking, confident and
successful entrepreneurs know others will follow their lead if they believe
in the concept.
 SELF-MOTIVATED

Self-motivation is one of the most important skill sets of success. Those who
fail to keep themselves moving forward are likely to become stagnant.

Self-motivation can make the difference in whether a new business fails or

thrives. Self-motivation matters both in large and small areas: knowing how
you want to spend your life is just as important as knowing what you need to
do upon waking each morning.
 PASSIONATE

When you are passionate, you are genuinely motivated to come up with solutions
and ideas for your industry and for the people around you.

When your business is built around passion, then it will continue to use that as its
fuel to continue. So long as you're driven to make things work in order to pursue
the greater cause, your business should do fine.
 LEARNING-ORIENTED

Most people spend their spare time seeking entertainment, whether it’s through
social media, Netflix, gaming, reading novels, or hanging with friends.
However, entrepreneurial thinking is more concerned with learning and
development.

For example: Instead of watching TV, entrepreneurs may take an online course
to help them move toward their goals.
 ACTION-ORIENTED

“Wantrepreneurs” like to read books, watch videos, and make plans, but they
never actually get down to business and work.

Aspiring entrepreneurs have a bias for action. They know that knowledge
without action is meaningless. As the animator and entrepreneur Walt Disney
said, “The way to get started is to quit talking and begin doing.”
 INDEPENDENT

This is one of the most important aspects of the entrepreneurial mindset.

Entrepreneurs don’t follow the crowd or look to others to be given instructions.
Instead, they listen to their gut and carve their own path.

As Apple’s founder, Steve Jobs, said, “Don’t let the noise of others’ opinions
drown out your own inner voice.”
 CREATIVE

In line with problem-solving comes your ability to come up with ways to solve a
problem from more than one angle. But creativity is also an important factor in
how you innovate your products and services.

When entrepreneurs are creative, they go way beyond what they want to sell or
what they want to solve. Remember, some of the most successful businesses and
companies in the world didn't start out from just one product.
 RESILIENCY & TENACITY

Take the time to rest, recharge and get back on your feet to try once more.
Tenacity and resiliency in the face of adversity are your two biggest driving
forces to succeeding in any industry.

Just look at entrepreneurial leaders like Elon Musk, Steve Jobs, Bill Gates,
Jeff Bezos, Warren Buffett and Ray Kroc. If they gave up at any point in their
entrepreneurial process, they wouldn't be the household names they are now.
 POSITIVE MENTAL ATTITUDE

If you fall apart the moment you face a setback, your employees and the
people around you will not have that much confidence in you. Having a
positive attitude allows you to tackle problems and obstacles head-on
without the clouded judgment brought about by negative emotions.
REFERENCES

Hancock, K. 11 Mindset Traits of Successful Entrepreneurs. (2022). Retrieved January 22, 2023, from
https://www.entrepreneur.com/leadership/11-mindset-traits-of-successful-entrepreneurs/380182

Law, T.J. Entrepreneurial Mindset: 20 Ways to think like an Entrepreneur. (2022). Retrieved January 27, 2023,
from https://www.oberlo.com/blog/entrepreneurial-mindset

McWirther, K. The Mindset of a Successful Entrepreneur. (2022). Retrieved January 23, 2023, from
https://www.noodle.com/articles/the-mindset-of-a-successful-entrepreneur
 MINDSETS OF SUCCESSFUL
ENTREPRENEURS

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YOU