The Three Mindset Principles of the Effective Entrepreneurs

Everyone knows that businesses rise and fall faster than we can possibly keep up with them, right?

So what separates the ones that make it and those who simply become another sad statistic?

Although it may be cliché to say that success in the world of modern entrepreneurs comes down to mindset, the fact remains that the principles that drive your company ultimately determine your results. Think about it: Mark Zuckerberg built his Facebook empire by going against the grain and sticking to his principles versus selling out at the first opportunity

While some might scoff at the idea of a principled entrepreneur, having your mind right goes a long way regardless of what you have to sell or say. The following principles can help put your company on the right path without having to reinvent the wheel.

Creating a Culture of Innovation

Today's entrepreneurs thrive on the concepts of innovation and doing something new. Unfortunately, this can be a dangerous path as innovating goes hand-in-hand with risk-taking. After all, bringing new products, services and marketing methods into the unknown can indeed put you in financial peril if you don't have a plan in place.

This is exactly why organizations such as SIT stress the concept of innovation inside the box. Through self-sustaining innovation, entrepreneurs can encourage their creativity without putting themselves in a situation where it ruins their bottom line. The key is to force yourself to act differently but doing so in a sustainable way.

Avoid Time-Wasting

Ironically, many of the entrepreneurs who are laser-focused on growing their businesses 24/7 are the ones that waste time through “meetings” which serve as distractions. Think about it: going out to extravagant “business lunches” and “mastermind sessions” often translates into socializing and patting oneself on the back.

While there's nothing inherently wrong with meetings, businesses should focus first and foremost on sustaining their bottom line before worrying about hour-long itineraries. Given that communication is easier than ever before, businesses should have a project management process in place that helps you avoid meaningless meetings.

Become a Linchpin

Serial entrepreneur Seth Godin introduced the concept of becoming a “linchpin” a few years ago. The concept is pretty straightforward: businesses should strive to make themselves indispensable to the point where they simply cannot be replaced by customers or clients. By becoming an integral part of your clientele’s machine, you're less likely to lose business as a result.

Godin also stresses the need for companies to “do good” and change the world. While cynics might see this aspect of becoming a linchpin as fluff, entrepreneurs should make it a point to present themselves as a protagonist rather than a cash-grab scam.

Again, the point of being a linchpin essentially mean creating product or service that serves a truly unique purpose and therefore can't be replicated. This ultimately makes your company more valuable and creates an immediate contrast between you and your competitors.

Remember: mindset matters when it comes to entrepreneurial success. Rather than try to transform your business overnight, use these principles as motivation to make smaller changes to your business over time.

Author:.

Carmelo is a marketing writer and blogger helping small and medium size businesses craft winning content strategies. She's always scouting the web for new social media strategies and is slightly addicted to apps. When not tapping the keyboard, you are likely to find her in the park playing with her uncontrollably friendly Irish setter or trying out new vegan recipes.

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