From employee to entrepreneur: 7 mindsets to cultivate | Free Malaysia Today – Free Malaysia Today

If you think being a businessperson is solely about making money, you wouldn’t be wrong – but it’s so much more than that.
The mindset of an employee is inadequate if you wish to become an entrepreneur. Being dependent on a salary and approval from others will become things of the past; instead, you need to cultivate a mindset that allows you to move forward and thrive in a dog-eat-dog world.
Regardless of the type and size of your business, making the transition from staff to boss can be a nerve-wracking journey. But where there is risk, there is reward, and your ability to move beyond a worker mentality will ensure success.
So, what are the changes you need to make if you wish to run a successful business? Here are seven key mindsets you should cultivate.
1. Be energetic and passionate
Entrepreneurs are passionate about their work, and this passion drives them to move their business forward. It helps them overcome challenges and continue pursuing their ambitions in the face of adversity.
Employees tend to do what they have to do to get their paycheck. But for the entrepreneur, the business is not simply about making money – it is about fulfilling something bigger that adds value to their life, and that of others.
2. Don’t be afraid of failure
Making a mistake or failing at something is inevitable. It is how you learn, grow, and – if you keep an open mind – develop fresh ideas.
To reach the expert level in any field, there must be persistence and consistency. As such, the ability to recover after failure is an important characteristic in any entrepreneur.
Employees, meanwhile, tend to feel slighted when they are reprimanded over any wrongdoing, choosing instead to avoid taking responsibility or, in some cases, resigning altogether.
3. Create value and solve problems
Entrepreneurs are always looking for ways to better themselves in the workplace or to do things more efficiently. They identify obstacles and find a way for things to work out, making sure every project they embark on is successful.
They don’t go around blaming others, complaining, or justifying their actions – instead, they are confident in what they do, but aren’t afraid of taking responsibility whenever things don’t go according to plan.
4. Cultivate a love for work
Running a business requires a lot of work. Entrepreneurs realise this, and are willing to put in more than the requisite amount of effort and energy to ensure progress. It requires commitment and determination.
If you are only working for the paycheck and don’t believe in putting in any effort beyond the bare minimum, then you are very much stuck in a generic employee mindset.
5. Focus
This trait is the most important when it comes to achieving success as a businessperson. Focus requires you to keep your eye on the proverbial prize, while identifying new opportunities that could help you maximise your resources and reach your objectives.
6. Take calculated risks
Do you know why many workers don’t take the leap to start their own businesses? Often it has to do with the security provided by a day-to-day occupation – it’s far too risky to not have a pension, regular pay, or fringe benefits.
The opposite tends to be true for entrepreneurs, who often flourish in the face of risk. Mitigating them and overcoming challenges motivates entrepreneurs and provides them with a sense of fulfillment when they achieve their goals.
7. Be responsible and take ownership
Entrepreneurs take responsibility for the success or failure of a company. If they don’t achieve an expected result, they might consider the venture a failure.
But, going back to point No. 2, the entrepreneur doesn’t dwell on their losses for too long. They will recover, find new paths towards making the business work, or head in a new direction altogether.
Entrepreneurship is a way of thinking, but even if you are an employee, you can learn to have an entrepreneur’s mind. Be proactive, determined, and hardworking, and you will go far regardless of whether you run your own business or choose to work for someone else.
This story was written by Eric Kiang for MyPF. To simplify and grow your personal finances, follow MyPF on Facebook and Instagram.
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