|The Small Business Library|
Last update: December 15, 1999
Developing A True Entrepreneurial Mentality
A definite factor in developing a true entrepreneurial mentality is learning how to look for and recognize opportunities that you can potentially capitalize on. Never stop seeking ways to expand or reinvent your products and services. As time passes, your business must move in a forward direction. If you do not explore new opportunities and learn how you can best capitalize on them, your competition will. Designate a few hours each month for research and development. Take this time to investigate new avenues that will allow you to enhance what you currently offer, and develop new and creative ways that you can market your products and services.
The true entrepreneur must know the ins and outs of marketing, whether it be online or locally. If you solely market your products and services online, it would be wise to learn all that you can about Internet marketing. Getting your web site up and running can be likened merely to stepping up to bat . . . you are in the batter's box, but how far will you make it from there? Will you get a hit? Will you score a home run? Your success depends solely upon your ability to play the game. How much do you know about the game of Internet marketing and how well do you play it? If you need assistance, follow the example of the pros . . . hire a coach. Becoming a member of a networking team is another approach to learning all that you can about the Internet marketing game. By selecting knowledgeable and successful teammates, you will capitalize on concepts from those whom have been there and lived to tell about it.
Developing the true entrepreneurial mentality also reflects how you look at yourself. Do you see yourself as a successful businessperson who can rise to the next level of success over and over again? In order to think like a true entrepreneur, you must see yourself as a true entrepreneur. I am reminded constantly in the depths of my mind of that little engine that chugged up that mountain, repeating over and over to itself, "I think I can . . . I think I can" . . . successfully making its way to the top, shouting, "I know I can . . . I know I can," with his little heart beating rapidly as he crossed over the mountain! The true entrepreneur possesses an "I know I can" mentality. No matter what obstacle rises up to meet him/her, a greater source from within the entrepreneur rises above the obstacle to reach success. In his/her mind, there is nothing that he/she cannot accomplish.
Yet, another important characteristic of a true entrepreneur is that he/she knows when to ask for the assistance of others. When might that be? Believe it or not, the true entrepreneur recognizes that he/she does not know everything about everything. There comes a time when every entrepreneur is going to need help in some aspect. Recognizing that he/she is an expert in his/her own particular line of work, the true entrepreneur does not try to do it all. It is not only wise but highly recommended that the entrepreneur hire experts in various fields to assist in matters that are far more complex and time consuming than they are worth the time to learn and develop.
Finally, the mentality of a true entrepreneur is focused on the knowledge of his/her products and services from the point of view of the consumer, as well as the seller. By knowing what consumers want, what products/services you offer, how your clients can effectively utilize and benefit from them, and why they must buy from you, then will you be able to establish a true market niche.
Developing a true entrepreneurial mentality is not as complex as it may sound. By taking the time to train yourself to think like a true entrepreneur, in no time you will find yourself experiencing new opportunities, discovering a more creative means of doing business online, and strolling down the road of success with a smile on your face :)
Article by Karen Wilson-Dooley, Professional Writer