In my 25 + years working with professionals in Business Development, universally I've discovered that they have learned to think like entrepreneurs. This is what has allowed them to rise to the top of their profession. Each would tell you that along the way they have learned how to think differently.
True entrepreneurs struggle with their business opportunities for a variety of reasons. Among the most obvious are a lack of capital, lack of understanding about marketing, and personnel issues. However, from my own entrepreneurial experience and knowledge of others, there are three major reasons individuals fail in entrepreneurial ventures.
They tie the success of their business with their own self worth.
They neglect to set realistic goals and plans for themselves and their business.
They are not prepared to pay the price of success.
True entrepreneurs with the right thinking prevail over a period of time. They have learned to understand the axiom Roles, Goals, and Tolls.
Roles
Successful entrepreneurs, in contrast to those who struggle, have learned to separate their roles in life from their self worth or self-identity. They understand that role performance or failure with their own venture is not a judgment of them as an individual. People who tend to equate their self-worth to their composite role identity are inherently risk-adverse and look to maintain the status quo. Being able to differentiate these two identities allows them to be risk prone vs. risk adverse, a key ingredient to success as an entrepreneur. Individuals who have risked failure, experienced it, and learned from it, have not only learned how to differentiate their role identity from their self-identity, they have learned the lessons of risking and failing. They understand that early failure in ventures is a natural part of successful startups. They are able to embrace those experiences, learn from them quickly and move on. This is critical to success as an entrepreneur. They must be willing to face and deal with early failures in order to prevail over time.
Goals
Even though much is said and written about goals and plans being necessary for success as an entrepreneur, few people learn the mechanics of successful goal setting and planning. It's not the plan but the planning that is important, and the goal setting process allows them to develop the confidence to take risks and fail. Successful entrepreneurs are not only goal driven and goal oriented; they have learned to execute the process of strategic and tactical goal setting and planning. Visualizing goals, writing them down and putting together a detailed plan for achievement provides the confidence and motivation to prevail. More than just business or operational plans, they have goals and plans for all the important roles in their life. They have learned early that if they aren't working their own plan they are probably part of someone else's goals or plans. They chart their own destiny, embrace risk-taking leadership positions, make adjustments as required and prevail over a course of time.
True entrepreneurs struggle with their business opportunities for a variety of reasons. Among the most obvious are a lack of capital, lack of understanding about marketing, and personnel issues. However, from my own entrepreneurial experience and knowledge of others, there are three major reasons individuals fail in entrepreneurial ventures.
They tie the success of their business with their own self worth.
They neglect to set realistic goals and plans for themselves and their business.
They are not prepared to pay the price of success.
True entrepreneurs with the right thinking prevail over a period of time. They have learned to understand the axiom Roles, Goals, and Tolls.
Roles
Successful entrepreneurs, in contrast to those who struggle, have learned to separate their roles in life from their self worth or self-identity. They understand that role performance or failure with their own venture is not a judgment of them as an individual. People who tend to equate their self-worth to their composite role identity are inherently risk-adverse and look to maintain the status quo. Being able to differentiate these two identities allows them to be risk prone vs. risk adverse, a key ingredient to success as an entrepreneur. Individuals who have risked failure, experienced it, and learned from it, have not only learned how to differentiate their role identity from their self-identity, they have learned the lessons of risking and failing. They understand that early failure in ventures is a natural part of successful startups. They are able to embrace those experiences, learn from them quickly and move on. This is critical to success as an entrepreneur. They must be willing to face and deal with early failures in order to prevail over time.
Goals
Even though much is said and written about goals and plans being necessary for success as an entrepreneur, few people learn the mechanics of successful goal setting and planning. It's not the plan but the planning that is important, and the goal setting process allows them to develop the confidence to take risks and fail. Successful entrepreneurs are not only goal driven and goal oriented; they have learned to execute the process of strategic and tactical goal setting and planning. Visualizing goals, writing them down and putting together a detailed plan for achievement provides the confidence and motivation to prevail. More than just business or operational plans, they have goals and plans for all the important roles in their life. They have learned early that if they aren't working their own plan they are probably part of someone else's goals or plans. They chart their own destiny, embrace risk-taking leadership positions, make adjustments as required and prevail over a course of time.
