November 10, 2009
Entrepreneurs Think Different Than Small Business Owners
I coach and consult with many small businesses about starting or buying, and then running a small business. We work together on streamlining processes, hiring staff, developing a marketing strategy to allow for increased income to pursue their dreams. But there is more to understand than the nuts and bolts of running a business.
Entrepreneurs and small business owners tend to think differently. Small business owners often start their companies after having been employees in that industry. They frequently maintain that employee mindset. Entrepreneurs dream big, start several businesses from scratch, plan for the future sale of business and are always looking for the next opportunity.
Small business owners often get married to their work and do not make a workable plan for managing and growing their business. If a rough spot in the economy hits, they get scared and go into a survival mindset. Entrepreneurs, on the other hand, usually have multiple projects going and are more likely to see an economic slow down as an opportunity.
How can a small business owner change this mindset? Take some time to sit down and envision what you want your entire life to look like, to feel like and how your business fits in with that picture. Write it all down. The more details of this future you can tease out, the better. What does an average day look like in your future? How much money does your business need to make for you to move into thrive (vs. survive) mode? How would you spend that income? Or is it free time that most lures you? How do you feel in this world? Don't spend much time on the "how" right now. Focus on the "what".
If you are creating your vision for your business and your life and practical thoughts intrude, push them away! Asking yourself what you really want and writing it down makes no room for being practical. Practical is about the "how" not the "what". You will get to that later. If you are an author and you dream of being on Oprah, write that down. If you are a stay-at-home mom who wants to earn a passive second income so you can devote more quality time to your kids, write that down. Just putting your dreams on paper is the first step to making them a reality.
Try to spend some time each day just experiencing what that big dream would feel like. Most professional athletes like Tiger Woods spend time visualizing the perfect putt, the perfect pass, the perfect no-hitter. They work with coaches who walk them through this process. If it works for them, why not you?
Get out of survival thinking and start acknowledging your biggest visions of success. Entrepreneurs dream really big and take chances. Start changing your mindset now and begin thinking like an entrepreneur.
With 30 years of consulting experience, Steven Schlagel offers training and coaching for startups, entrepreneurs and small business owners. Check his site for more articles to increase your success!
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