What does it mean to have the winning mentality for a successful business?
The absolute most important secret to creating a successful business is to change the way you think and perceive yourself. In short, it is a question of becoming an entrepreneur at the level of being and not only of acting.
More than the aspect of knowing how to overcome fears, maintaining motivation and in general knowing how to master mind and emotions , here I am referring to the practical practical approach that is necessary to take the right steps and achieve success.
Most of the businesses on their own go bankrupt in a few years. So having the right approach and mindset can help you really get what you want.
Here are the 5 secrets of a winning mentality for a successful business, to be able to take every step with awareness and foresight.
Topic index
- The winning mentality for a successful business: start small
- Be aware that 80% of what you do doesn’t work
- Your business is not a job
- Think long term
- Act and still act
- The winning mentality for a successful business: in summary
The winning mentality for a successful business: start small
In the beginning you still have to understand if your business idea can work. Also get comfortable and learn, little by little, how to make your successful business work.
You should then start small. This is so as not to risk wasting your resources, and to be able to easily learn how to manage your business. And also being able to easily adjust and recalibrate your actions. In short, you should give yourself time to learn how to be, and be, an entrepreneur.
Plus, starting small also means investing only the resources you can afford to invest. It is primarily a matter of relying on your financial resources, as well as your energy and time.
Often you don’t need much money to get started. Typically online businesses require very little investment to get started.
Only when you see that your business begins to mesh and you feel totally confident with the activities and the strategy you have adopted, then is it time to think about climbing to the next level.
But be careful not to throw in the towel when maybe you’re just a few meters from the finish.
“Many failures in life are reported by those men who don’t realize how close they are to success when they decide to give up.”
Thomas Edison
Here comes the next secret of the winning mentality for a successful business.
Be aware that 80% of what you do doesn’t work
It’s important to know that most of what you do doesn’t work. It is a rule that also applies to people who seem to link success after success.
Knowing this allows you to keep motivation high and have the strength to persevere, especially in the very early stages of creating your business where everything seems so difficult and slow.
“I am convinced that about half of what separates successful entrepreneurs from unsuccessful entrepreneurs is pure perseverance.”
Steve Jobs
Success is established in the long term.
80% of failure may seem disheartening, but in the end if you consider it together with the Pareto principle it is more acceptable.
The Pareto principle states that about 20% of the causes cause 80% of the effects. So even if you fail 80% of the time, if you do the right things the remaining 20% of the time, you can still get great results.
The difficulty lies in recognizing what the right things are, and doing them consistently over time.
Your business is not a job
Another secret of the winning mentality for a successful business is to realize that your own business is not an employee job. So you can’t approach your business as if it were an employee job.
Creating your own business, small or large, requires a completely different mentality.
Acquiring this new mentality takes time because it is a real transformation in the way you perceive yourself and the things you do, and it is easy to underestimate its importance.
First of all, being an entrepreneur means taking 100% responsibility for your decisions and actions.
Creating a successful business does not mean receiving money in exchange for your commitment, but it is about creating value and getting results.
In fact, you are paid in proportion to the value you create for other people and not for the effort (also in terms of cost) or the time you take. So then creating your product means producing value.
In addition , revenue is not the same as profit . For a profit of 100 euros it is necessary to have much higher income. There are in fact various expenses, costs and taxes, often unexpected or invisible to the last.
The money in your hand, unlike what happens in an employee job, is not all yours. A good practice is to always keep aside the money you will have to pay for taxes or other costs. The good news is that often you can take advantage of the flat rate scheme that allows you to pay only 5% of taxes for the first 5 years, but remember that there are also INPS contributions.
Think long term
Another secret of a winning mindset for a successful business is not to just think about the short-term benefit, but to act for the long term.
This holds true in many aspects of life, not just in business. Think, for example, of the effort of planting and caring for a tree that will only benefit in many years. Or compare the benefit of the immediate pleasure of filling with sweets and being on the sofa all day and watching TV series, with the long-term deleterious effects on health, but also on satisfaction and happiness.
It’s about knowing how to use what you have to maximize your success over time and not limit yourself to a small immediate profit. This means proceeding with a well-defined strategic action plan, instead of thinking day by day.
In order to do this, however, you must have understood all the factors involved and know how they work. This implies updating or acquiring new skills .
That is, you must know and do well all the key pieces of your business. It is useless, for example, to have an excellent product or service and then have no idea how to promote it.
Act and still act
The last, but by no means least important, secret to building your successful business is action.
Even if you do very small actions, it is important to keep yourself moving. Micro-steps, maintained over time, are also enough to reach your goal. It’s just a matter of time.
Your success comes because you act, move, and test your strategy in the real world. Only in this way can you change or adjust your actions so that they are more and more aligned with your goals.
Also looking back and seeing how far you’ve come is a great support for your motivation and self-esteem.
The winning mentality for a successful business: in summary
In summary there are 5 fundamental secrets to having the winning mentality to successfully realize your dream:
- Start small
- 80% of what you do doesn’t work
- Your business is not a job:
– take 100% responsibility
– create value and get results
– revenue and profit are two different things - Think long term
- Act consistently over time
