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Stefan Kazakis on 28 September 2019

How to develop an entrepreneurial mindset

In my line of work I’m often asked how to become a successful entrepreneur. The truth is, there isn’t a secret formula for success, but you can change your mindset to start thinking like an entrepreneur.

First of all, get clarity. Entrepreneurs know what they want. Clarity is about the DNA of your business. It’s about what drives you and the people around you. It’s the heart and soul of why you go into the office every day and the promise you make to your customers. It’s the unshakeable confidence about who you are and why you do what you do for those that you choose to do it for.

You must also get clear and be specific on your goals. Define what your number-one goal is and write it down.

Research has shown the 3 per cent of people who actually put pen to paper and write down their goals, account for 98 per cent of the wealth globally. Once you have decided on your number-one goal, strategise what you need to do to achieve/deliver it.

 

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Next, make a list of your 10 most regular tasks every day/week and circle the relevant three that will make you the most money/profit. Aim to increase your time spent in these three areas by 50 per cent each day/week.

Further to the ''relevant three'', what are the five income growth activities that are solely focused on putting money into your bank account? Remember, sales is the only activity that actually puts money into your business. Everything else takes it out.

Take a look at who you are hanging out with – are you hanging out with people who help or hinder your dreams? Who are you being influenced by? Who are your closest and most trusted? What journey are they on? Are they growing or dying in terms of their goals and ambitions? Be deaf when people tell you that you cannot fulfil your dreams.

Create a routine that works for you and stick to it. Creating a 90-day plan and strategising what needs to happen to achieve your number-one goal, ensures you remain focused.

Create a Default Diary, where you block out 50 per cent of your time in the week for doing the tasks you’ve identified as being the best use of your time.

For example, your number-one goal will most likely be a profit goal. To achieve this, the best use of your time may be in sales; therefore, this activity will appear often in your Default Diary. With this in mind, your Default Diary will give you 50 per cent structured time that is uninterrupted and highly productive.

And finally, ''healthy mind, healthy body''. If you’re not looking after yourself, nothing else happens and you can’t be who you need to be for your loved ones.

Set the alarm, get up early and be excited to start the day. Make your ''to achieve'' list the night before and highlight your top three; tackle these tasks early on in the day when energy is high. Healthy mind and healthy body is paramount to your success.

 

Power to you!

Stefan Kazakis
CEO, Business Benchmark Group

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