Monday, January 25, 2010
Build a Successful Home-Based Business: Entrepreneurial Mindset
The Key to Building a Successful Home-Based Business: Develop an Entrepreneurial Mindset
A successful home-based business is something that many people dream about. With it, they can establish their own work schedule, be their own boss, and save thousands of dollars a year on commuting and other work expenses – not to mention avoiding all that traffic! But the problem these people commonly run into is that they lack the entrepreneurial mindset required to move forward with their business in spite of challenges. They give up when things go sour and they become upset when they fail to generate the kind of income they expected to right away. That's a natural reaction, but the entrepreneurial mindset requires a reaction of a different sort – and it can significantly alter the outcome of your home-based business.
Entrepreneurs who are successful find that they don't see problems as insurmountable difficulties. Instead, they see problems as opportunities to be fleshed out and challenges to meet and conquer. They like to think outside the box and to devise new and creative ways to overcome adversity. A successful home-based business is operated by someone who can implement these strategies – someone with an entrepreneurial mindset. When an entrepreneur encounters something that is not going his or her way, giving up is never an option. Changing course is possible, but only out of necessity after considering all the alternatives. According to the entrepreneurial mindset, no decisions are made out of fear, anxiety, or misplaced passion. An entrepreneurial mindset is a positive mindset; it emanates success thinking, and thus it attracts success in the greater world.
If you want to run a successful home-based business, developing an entrepreneurial mindset is crucial. Fortunately, you can train yourself to do this; i.e., it doesn’t have to be an innate characteristic of your personality. You simply need to commit to its development and promise yourself that you’ll never give up, as it won't happen overnight. For any entrepreneur who is running a successful home-based business, you can be sure that it took time and patience to get there and that the journey was fraught with trial and error. The entrepreneurial mindset won't make you immune to challenges, but it will show you how to turn these challenges into short-cuts to success.
Generally speaking, the entrepreneurial spirit comes in two different flavors—DIY and KISS. DIY of course stands for Do-It-Yourself, and refers to the entrepreneurial mindset that would rather build everything from scratch. If you do this successfully—think Bill Gates or Steven Jobs here—you can make a massive fortune. The sad reality is however that not everyone has the same drive to succeed as Gates or Jobs. (We all have the same potential for greatness—some of us just don’t use it as effectively as those guys did.)
The KISS approach (for Keep It Simple, Stupid) is generally much more appropriate for those of us who don’t want to reinvent the wheel while trying to launch a successful home-based business. With the KISS approach anyone with an entrepreneurial mindset can look for and find a veritable business in a box that provides a turnkey solution for a successful home-based business startup. Either approach can work—the key is to find the one that works for you.