Imagine you have just launched your passion-based business… Or maybe you are already working at your passion – congratulations! How do you manage the mindset to keep inspired, focussed and successful at running your business as launching it? How do you master the entrepreneur’s mindset?

By now you likely have the right product for the ideal customer. You have assembled the right team and are connecting with the right prospects. Good for you! The future ahead is rosey – maybe rocky at times, but if you are determined to succeed and you have the right mindset, tools and conditions, you will.

Success in entrepreneurship is a combination of mindset (how you stay clear on your goals and make decisions), mechanics (how to market, sell, deliver and operate our business) and metrics (the analytics behind your success). Most entrepreneurs come pre-equipped with the mechanics and metrics to launch and run a successful business, but the #1 trip up is mindset.

What does it take to master the entrepreneur’s mindset?

Get crystal clear on your big WHY.

Why do you exist? Why are your skills like no other? Why do you want to be an entrepreneur? Being in touch with your why is the first step in managing mindset, because when the road gets rocky and doubt slips through the crack in the back door, your why will ground you.

For me it’s helping women in midlife get the confidence and skills to create their next new phase – a passion-based business or a next chapter in love. It’s what gets me out of bed, drives my desire to write, speak and share. It’s how my feminism manifested in a practical form – to extend a hand and lift a sister up with confidence and clarity of what’s possible for her.  Then to actually EXPERIENCE that transformation is priceless. It gets me through the rocky months of revenue and makes all the work worthwhile.

Learn to balance analytics and intuition.

Entrepreneurship is by nature is a creative endeavor. Birthed from a passion, the successful entrepreneur doesn’t let passion stand in the way of sound decisions. Successful entrepreneurs are also good money managers, they pay attention to the metrics, they take risks and pivot quickly when a plan goes awry.

You intuition is your fertile soil of creativity. It’s the inspiration that drives you. In order to build and run a successful business, you need a direct line to your inner madame executive – the red hotline that when you pick up the phone, gets you immediate answers. She knows what to do next without equivocation, all you need to do is heed the call.

BUT… creativity and insight need to be balanced with strong analytics on what is and isn’t working in your business. How well are your offers converting? What has shifted in your market? What do you need to change in terms of content, offer, pricing or who you are targeting? Balance your inner wisdom with some serious problem solving chops. If you are not comfortable with both roles, partner with someone who complements you.

Get familiar with doubt (and skilled at dancing with it).

Doubt can have you running down alley’s that waste both your time and your money. “Do I need another certification?” “I feel like I need a marketing course.” “Everyone is building funnels. Do I need a funnel?” 

Doubt’s close cousin, confusion, can also wreak havoc on your ability to execute on goals. How long will you perseverate on your offer? It’s best to test and iterate. Get in and get out quickly if it’s not working. The longer you delay action, the longer you defer income. Make quick decisions based on best available information; test and iterate.

Confidence isn’t pre-packaged with the desire to become an entrepreneur, so be extra diligent with your mental hygiene. Look for opportunities to stretch. Go for small wins that have big results. Go past your comfort zone and try out new skills – keep it low impact if you are not sure, but try nonetheless.

For instance, if you have always seen yourself offering retreats, but you’re not sure how or if people want what you have to offer, do a half day retreat in your own home. How did it feel? What did people say? Collect feedback from your participants on what they liked most. Notice the big breakthroughs. Start gathering testimonials and start to fuel your confidence and your reputation.

Remember, you don’t need to re-invent the wheel (in fact it’s not advised). Work with someone who knows the ropes – who’s been there, done that and has the t-shirt.

If this Wednesday Wisdom has hit home with you… comment below and let me know.

Talk soon,