12 Key Mindsets to Become a Successful Entrepreneur

Entrepreneur mindset

Wondering how to become a successful entrepreneur?

There's probably no exact answer to that question.

But lets talk about entrepreneurial mindsets & traits – and what most entrepreneurs I know have in common.

I see myself as a pretty successful entrepreneur, so I thought I'd share my take on this.

The entrepreneur lifestyle doesn't come without hardships. It's a fact.

I have been an entrepreneur for over 12 years and faced tons of uncertainty and challenges over the time. Still do..

To overcome challenges, I had to learn and implement some important entrepreneurial mindset traits.

Because they have been so key to my success, I want to share them with you today.

This post will give you the most important entrepreneur mindsets that will make you resilient enough to concur any situation.Β 

12 mindsets to become successful as an entrepreneur

Here I'll do my best to list and describe the traits needed to become a successful entrepreneur, based on my own experience.

πŸ”¦ Be optimistic

To become an entrepreneur, you need to be more optimistic than the average individual.

Sounds obvious, but really, your level of belief in yourself and your business needs to be excessive.

That demands a high level of optimism.

Let me also point out the importance of being realistic. Finding the balance between optimism and realism, is a major key in actualising your dreams.

One thing is for sure: those who are optimistic have the power to turn the seemingly impossible into reality.

✊ Drive & desire

All successful entrepreneurs have an exceptional drive.Β 

More specifically, the drive to move forward and get to the next level.

Many people are not happy where they are, but they are content. The secret to a happy life as an entrepreneur is to do the opposite.

Never be content, but always be happy.

Remember, entrepreneurship isn't all about winning, at least not all the time. It's about building, creating and growing, so you can set new goals and move forward.Β 

Keep up your motivation and make sure you build a life that inspires you. If you lost your drive, then your job is to find it again.

Maybe take a break and watch some inspirational movies for entrepreneurs?

❓Ask the right questions

An entrepreneur mindset requires you to become good at asking important questions.

Part of that is to first figure out what the question is.

Many people are asking the wrong question. For example: “How do I make money?”

A better question and one that will drive you to action, is “How can I create enough value for people?“.

Moreover, you need to be able to ask the right people. Many times, people ask their friends or family on advice to achieve something.

Who has already accomplished what you want to do?

Ask those people.

🦸 Know your strengths and know your weaknesses

An important entrepreneur mindset is to knowΒ what you are good at and being able to capitalize on it.

It also means that you need to be aware of your weaknesses and don't build your effort around the areas where you simply can't perform.

Remember, you can always recruit others to cover your weaknesses.

In fact, you should outsource whatever isn't in your toolset.

You can't and shan't be an expert at every part of your business. Figure out what you like to do and where you can generate value.

🌐 Network, network, network!

Connecting with like-minded individuals is essential to be a successful entrepreneur. A strong and diverse entrepreneurial network not only improves knowledge and resources, but also communication skills.

I really recommend creating your network of like minded entrepreneurs. This was day and night for me and my success.

Maybe you can't find them where you live. Well, sometimes you gotta move yourself.

I moved to Malta when I was 19 years old, and met my tribe there. A few years later, I moved to Cyprus where I also found many inspiring entrepreneurs.

Moreover, the diversification of knowledge and knowing people in different industries will help you grow as an entrepreneur.

Entrepreneurs are always networking, because they realize that everybody has the potential to provide value, and there's always a deal to be made.Β 

πŸ”¨ Turn ideas into action

Turning an idea into reality is no easy task for everyone.

This is why you often see that action oriented people on the top of the world. Even if they're not the smartest, they actually made it happen.

People often talk about great ideas or plans they have, but rarely take action. Don't give ideas too much credit.

Setting up a life where the only thing that counts is action will help you turning ideas into reality.

🧠 Keep an open mind

While the average person may see a problem, the entrepreneurial mind sees an opportunity.Β 

Entrepreneurs are generally very open minded andΒ ready for change.

We catch trends faster.

I always say: we live in the world 20 years from now.

Having an open mind approach allows you to take advantage ofΒ  changing situations in the world and be quicker to capitalize on opportunities arising from them.

πŸ‘¨β€πŸ‘¦ Have mentors and role models

I can't stress this enough.

You need mentors.

Whether they be real life mentors, from books, videos or podcasts.

Find people who you admire and have accomplished what you want to accomplish. Spend some time of your day to learn from them.

Tip: don't look for perfection in mentors and don't take their advice in areas where they are not performing.

But, but extremely open minded to their ideas when they do know what they're talking about.

Always learn from the best! Check this list of the top 20 richest people in the world.

🀯 Maintain focus and resilience

Entrepreneurs are faced with some tough decisions and overall needs a heck of a lot more patience in life.

Your ideas and practices may be challenged by others. Your ideas might not give you the results you expected. The whole world might change in the blink of an eye because of pandemics or natural disasters.

Mentally prepare for some tough setbacks.

Learn how to stay productive through difficult times, and keep on your path.

At the same time, know you're getting out of all of them eventually.

Staying strong and maintaining focus no matter the emotional state is key to an entrepreneurial mindset.

Most good things only come after long hustles.

πŸ’“ Be passionate

Entrepreneurs are very much passion-driven.

It's difficult for us to work too long on projects we have no passion for, at least long term.

So, yea, the old cliche that you need to love what you do, is especially true if you wanna succeed as an entrepreneur.

It is passion which turns a small idea into something that is world-renowned.

You need to be completely dedicated to making your business work in order for it to succeed.Β 

πŸ‘·β€β™€οΈ Love the grind

Realize right now that you can't love everything you do all the time. Sometimes, you're gonna have to do things that you don't want. This is what we call the grind.

As Jeff Bezos says, you must love the grind, otherwise you will hate life – because life is the grind.

I love that statement.

You're gonna need to put in the hours. There are myths going around right now that you can just setup a semi passive income working a few hours per week.

Nah. I'm not saying it's not possible, because it is, but it isn't what you should aim for if you want to a be true entrepreneur.

I rather that you get used to the idea to work hard, but not sacrificing life at the same time. Find that balance.

There's enough hours in the day to do everything you need, including grinding away.

πŸ• Effective time management

Having good time management is important for anyone, but it is even more important for entrepreneurs.

Entrepreneurs are often faced with a difficult time dilemma. There's just too many opportunities, and we want to get everything done at once.

Though, this can often lead to procrastination and misprioritisation of what needs to be done now.

Understanding what's really important in life and your business and then organize your days to maximise around this is key.

More mindsets to become successful

Most definitely, the list of mindsets and frameworks that have made entrepreneurs successful the last centuries can be made much longer.

These mentioned above are among the most important ones, and a good place to put your focus in the beginning.

Of course, you can't obtain all these traits over night. It requires a lot of time and effort to form habits that sets you up for success.

But the most important trait: never stop reading articles like this and continue to improve.

Also check out my step-by-step guide on how to become an entrepreneur.

As long as you become a little bit wiser every day, you'll do great things in a life time.

What are your best entrepreneur mindsets? Comment below!

Written by
Johannes Larsson
Join the discussion

  • Hi!
    Immensely enjoyed, learnt & wised up from this post.
    A. Enjoyed –
    1. “At this time, I had a couple ofΒ websites monetized with affiliate products like web hosting, clothes and jewelry up and running, generating a total of $0″

    B. Learnt –
    1. That’s why it’s better doing stuff, than thinking about doing stuff.
    2. Being 100% free was always important.
    3. Keep working on your projects, and realize how much difference it can make to not give up, just because things doesn’t give you immediate results.
    4. Entrepreneurship is about building, creating and growing, so you can set new goals and move forward.
    5. Setting up a life where the only thing that counts is action will help you turning ideas into reality. I read some where – Action is the magic word.
    6. You need mentors.
    7. you must love the grind, otherwise you will hate life – because life is the grind”.

    C. Wised up –
    1. The whole world might change in the blink of an eye because of pandemics or natural disasters. We can see this in present Covid-19
    2. It is passion which turns a small idea into something that is world-renowned.”

    Yes for sure!
    In the hum and drum of life, its trials & tribulations, some where we stop getting new inspiration and daily life becomes a huge burden.
    Keeping myself inspired each day to become better in personal & professional life is my greatest take away from your post.
    Many thanks.