Employee vs. Entrepreneur Mindset Comparison

Employee mindset versus an entrepreneur’s mindset. Is there a difference and if there is what distinguishes the two? Which one do you have? Read on to learn more and see how you classify yourself.

As with every day in business, it all starts in one location. As a vision, as an idea as a passion in someone’s mind and heart. From there it moves into action, but not for everyone. Why is that? Why are some destined to always be working for someone else, while others are out creating their lifestyle based on their vision? This is the basic difference between being an entrepreneur and being an employee.

The comparison between an entrepreneur mindset versus an employee mindset is vast but first, you must understand the context of how this comparison is happening. It is being used to pitch a business, or is it being used to help individuals understand what it takes to be a successful entrepreneur?

This page is not about explaining how you should act, or think or even what you should do. There is no hook at the end that is going to ask you to sign up for a mailing list to get more information. It’s simply about information sharing and helping those who want to become an entrepreneur, start them on their path to achieving their goals.

It is important to understand that not everyone is meant to be an entrepreneur and not everyone is meant to be an employee. Plain and simple! The thousands of businesses that exist today could not exist if everyone wanted to be an entrepreneur and run their own business. Conversely, there have to be some entrepreneurs to start the businesses to create products and services and the livelihoods that go along with them.

Entrepreneur Versus Employee Mindsets

Are You Ready to Become an Entrepreneur?

For some people the thought of being an entrepreneur scares them, where others it confuses them. It confuses them as they really don’t know what being an entrepreneur means. Simply put an entrepreneur is a term applied to a person who is willing to launch a new venture or enterprise and accept full responsibility for the outcome. Sounds simple but don’t under estimate the simplicity of that definition.

What are the criteria that you should use to understand if becoming an entrepreneur is really what you want to do? As an individuals who have gone through this change already and having helped many others do the same thing, the following 5 items are the key factors you should look at.

Your Current Level of Satisfaction

How badly do you want to change? Are the items you want to change situational based or more systemic in they are all encompassing (i.e. need to generate more income). Can you pin point where the dissatisfaction is coming from. This soul searching can be very revealing so pay attention to what you discover.

The effort you put into this initial step will pay off in the end. It allows you to get a true understanding of what your “Why” is, and that will lead you to what you need to do. It may tell you that being an entrepreneur is not right for you and that just a simple job change is all you need. Great! That just saved you a lot of time and possibly money. However if you see that becoming an entrepreneur is really what you want, having your “Why” clear in your mind will make you unstoppable!

If you know you want to be entrepreneur but do not know what business venture would suit you best, again, contact us and we will help you find what you need.

Either way, Engineered Lifestyles is here for you to see you succeed!

Your Personality

This is not about being an introvert versus an extrovert, this is more your risk tolerance. What types of risks are you willing to take? Are you the kind of person that is OK with looking at yourself in the mirror and knowing that you and only you are responsible for your success? To be disciplined enough to do the tasks that are required every day to build your business? Are you motivated by more than just money? While most successful entrepreneurs are wealthy, very few of them started simply because of the desire to earn more money.

Remember money simply as a motivator will not work. As an entrepreneur your first few months may not generate a lot of money, and if money is the only motivator, the lack of it coming in may get you discouraged quickly and start to doubt your resolve. The number one entrepreneur killer, self-doubt.

Planning

Being an entrepreneur requires you to obviously plan and run your new business venture, but what a lot of people forget to pay attention to is their personal lives. This is where your planning becomes paramount. You have to be able to run your new venture, and yes, it will take up the majority of your time when you first start, but also have to balance your new commitment you’re your personal commitments, as they won’t stop just because you started a new business venture.

If you think your new business venture will not have any effect on your life now, think again, something is wrong. New businesses don’t start themselves and the amount of work you have to put in is extremely high at the beginning. If you aren’t putting the time in and doing the work before you know it your business is not growing, it’s not producing, and the business venture is not successful.

The makes your time of the essence and you have to be able to work with your loved ones to create the proper balance. To know that there will be sacrifices made in order to get the business off the ground, and then as the months go by and you get more efficient at your business, maybe even hire a few employees, your time is not so crunched and you can start to see the fruits of your labor.

Financing

Yes this is always a must. You need to have financing in order to start your business venture. Now how much financing is required? Well that depends on the type of business that you are looking to get started in.

It could be anything from a few hundred dollars to start a home based network marketing business part-time, to a few hundred thousand dollars to start a franchise, to an unknown amount to bring a new product or service to market. Either way, you will have to know and understand what the amount your business venture will need to be financed so you can put together your plan of action.

Implementation

So now that items 1 through 4 are in order and ready, the last step is to get it going, to start, to take that first step, crawl outside of your comfort zone, walk into the world of being an entrepreneur. Run at full speed and never, ever quit!

That’s right . . . that one of the secrets . . . that one of the reasons why the very first things we always ask people who tell us they want to be entrepreneurs is “How bad do you want it?” Their level of commitment will pay off when they hit their inevitable speed bumps, and roadblocks along the their journey to success.

The level of commitment that you need to have to be a successful entrepreneur is similar to the dedication and commitment you have to your children. Those 2 AM feedings, followed by being woken up at 3AM because someone got sick, or spending all night with them until a fever breaks without ever thinking, I quit, someone else can do this, this isn’t for me.

Think about that commitment to your kids and how you have no choice but to be committed to them. That level of commitment and love for your business is the same and it will drive you to being a successful entrepreneur.

No intentions to scare anyone away from being an entrepreneur, just being honest. Arm yourself with knowledge as you take action on your journey. Remember that there is no one that knows you better than you. Be truthful to yourself and to your wants, and the answer and direction to take will be made clear you.