A Successful Entrepreneurs MindSet

Written by NaijaEcash

Topics: Entrepreneur

I had a session with one of my business mentors. It was not what I expected, but looking back at the session now, I feel happy that I endured the long talk. On my own, I thought I have been doing fine and I was calling for celebration. It was shocking to discover that upon evaluating my progress report, my mentor did not mix words to reprimand me that I was loosing focus! (Can you imagine that, my friends have been congratulating me!)

Business Mentoring

Business Mentoring

He insisted that we go over some of the lectures he had given me before now. I felt stupid, but I could not argue with him. You may wonder why! Simple, that he knows better than me. What is the proof? The results he is having in his entrepreneurship ventures (I crave for the same success he is having). Since I promised to always share with you my success secrets, I will go over the vital points I think you can benefit from.

For those who are in a hurry to go here is the list of the 5 vital points:

  • Be an Opportunity Seeker not a Security Seeker.
  • Give Customers what they want, not what you think they need.
  • Focus on results not daily routine.
  • Be mindful of Long-Term Profitability not one time sales.
  • Don’t trade your long-term vision for a tempting one time jackpot.

Okay, let’s get the full gist of how the session went. Each of the points were used by my mentor to review my performance so far. You don’t need to hold your breath wondering what my score was. I scored 20% in the review. You will need to score yourself or get someone to score you based on those points. Here we go;

Opportunity Seeker not Security Seeker – I was rebuked for always thinking of security instead of opportunity. He didn’t thinking twice before using the most obvious evidence. He used my constant reference to “I don’t want to get spanked by brother Google” as a sign of a wrong business mindset!  (He has been reading my posts!) Entrepreneurs who focus on security instead of seeking opportunity to expand do not make steady progress. He pointed out that John Chow had a terrible face-off with Google, but he survived it and must have added to his knowledge. So, Google should not be the determinant of my online business adventures. After pondering over this, I had to agree quietly that I will do better if I stop thinking about the possibility of losing my PageRank. In reality, even if I get spanked, I can always, learn from my mistake and make better progress.

What Customers want, not what I know – I thought I was serving my visitors what I know is best for them. His question was, “Who made you the dictator?” He pointed out that it is my supreme responsibility as a sincere entrepreneur to find out what my customers want. It is not my business to dictate to them, what they need to satisfy their real or perceived need! I must confess; this one is tough.

The result is what matters not keeping to daily routine – My report on my daily schedule earned me the greatest rebuke. He was furious that I had made myself into a programmed robot that keeps doing the same thing daily. He demanded that I stop the foolishness and get creative even at the risk of making mistake. At this point, I was really sad, but I could not argue. He knows better than me, and he has just made a valid point.

Long-term Profitability not One Time Rip-Off – I made a little income that I was proud to present as evidence that I have been diligent in business. Well, did it earn his approval? No, it earned another scolding. He pointed out that the social cost of the income was too expensive. I traded a RELATIONSHIP for a one time SALE! That is against one of the fundamental principle of successful entrepreneurship. You must always treasure CUSTOMER RELATIONSHIP above one time or short-term profit. He insisted that I should have granted the discount asked for by the customer thereby strengthening the existing business relationship. (Well, I actually lost the customer to a competitor after that sale. I thought I was being firm with my business policy. My mentor insisted it was a foolish decision I made.)

Long-term Vision not Short-term Result – Well, the only point that earned me a pat on the pack was my ability to retain my INTEGRITY. He was happy that I have not defaulted in that one. He reminded me that long term vision should be my focus. If I focus on long term result, I will not be easily tempted to do shoddy business or ruin my reputation by engaging in transactions that I will later be ashamed of. Many entrepreneurs who have gotten involved in scam missed this point. They wanted INSTANT RESULT instead of following their long term vision of becoming a successful entrepreneur.

Well, that is it. Do I dread the session of review with my mentors, yes. Eighty percent of them are too strict and insist on living by tested and tried business principles. Does that mean I will no longer go to them for advice and periodic reporting, no, I will continue to go because I am where I am today, not because I am smart, but because, I receive a lot of help from those that know better than me. Everyone need a MENTOR!

I hope this little post will encourage and impact you positively. If you do not have a mentor, please go get one today. If you already have one, share with us, tips you got from your report-sessions with your mentors. A comment from you keeps the discussion flowing and interesting. Cheers.

18 Comments Comments For This Post I'd Love to Hear Yours!

  1. R. MAK. says:

    Really nice Article, Well thought and researched. I have bookmarked this and will read all your blog tonight..

  2. PACE says:

    Hi,
    I agree with your mentor on all the points raised. But I will like to add that focus is important if you will succeed as an entrepreneur. Why is it that an entrepreneur keep at what he is doing even when money is not coming? It is the passion to solve a problem. And that problem is exactly what the customer is facing and what the entrepreneur is out to solve. Take each success as it comes but still remain focus on the main goal – solving a problem.

    We all need to keeping asking ourselves everyday if we are still within focus. The truth is that it is very easy to loose focus and that is why one needs take heed. Small success can blow your mind and make you think you are already on the world. So, let us go back to the drawing board. Check your progress with your mentor and make a commitment to make the necessary changes.

    PACEs last blog post..How do you spend your spare time?

  3. cchiovitti says:

    Long-term vision is the key. Get-rich quick schemes don’t work and if it seems too good to be true, then it probably is. Mentors are wonderful for helping us stay on target.

  4. quickcutters says:

    This was a really good read, i would have been soo up set with what they were saying i probably would have cried like a baby. they really hit cha.

    Nice read.

  5. Diane Scott says:

    Your conversation with your mentor is a honest reflection on being able to share the experiences you are going through online. I did think though that “what customers want, not what I know” is really a two-edged sword. Willy nilly let people get the wrong stuff, and you do not gain a repeat customer. Helping and guiding people to make the right choices earns you respect, the repeat visit, and, it happens, a life-long friend and customer who spreads the word that you are an honest person to do business with… 🙂

    Diane Scotts last blog post..Something To Tide Us Over As We Launch Our Investigation Into A Great Traffic Building Software Tool For Website Owners

  6. NaijaEcash says:

    Thanks pals. Your comments are full of educative tips. You’ve taking the discussion to the next level. I really appreciate you all. Cheers.

  7. Ife says:

    Having a honest mentor is key to succeeding as an Entrepreneur. Your mentor has done well to keep you on track.
    Its very important to always look at the long term goal.
    Keep up the good write ups bro.

    Ifes last blog post..Consistency and Seriousness as a Blogger

  8. Bola Oluyemi says:

    Your mentor has said it all.But i must say focus is important,you must have a focus as a blogger, create a your own brand, a uniqueness,forget about google PR and what have you.When your blog has a substantial number of readers and visitors, good content and of a good reputation,i believe such blog will generate good revenue.Of course, PR will be an icing on the cake.But don’t break your back for it!

    Bola Oluyemis last blog post..Uncontrollable Greed.

  9. Dali Burgado says:

    Hey There,
    Wow! Very insightful stuff here. Developing the entrepreneur mindset takes time – especially for most people who have been accustomed to being employed. The goal is to shift gears from the “employee mindset” the “entrepreneur mindset” by doing all the things you recommend here!

    Fabulous post!

    I can relate to the Page Rank story – although we want to maintain and increase it, it is not the end all be all. Your readers are!

    I also totally don’t do the “routine” I was always a rebel of routine lol.

    Great job, again.

    Look forward to reading more.
    Dali Burgado

  10. WINIFRED AKHIGBE says:

    please how do i get a mentor for my business line.

  11. WOW! This is really vital… I got to read this over and over
    it really motivates me for the better.

    Thanks.

  12. abutazkiyah says:

    Nice information and very inspiring. Thanks for sharing.

  13. Please let me know if you’re looking for a article author for your blog. You have some really great posts and I believe I would be a good asset. If you ever want to take some of the load off, I’d love to write some articles for your blog in exchange for a link back to mine. Please blast me an e-mail if interested. Many thanks!

  14. Amanda McKernan says:

    Hi I’m a senior in high school, and I am taking a class om Entrepreneurship and would like to have your permission to use the graphic for my assignment! Its excatly what I am lookign for.
    Thanks, Amanda McKernan

    • NaijaEcash says:

      Thanks for visiting my blog. You have my permission to use the material for your assignment. I wish you success in your assignment. If there is any other assistance you require, don’t hesitate to ask. Cheers 😉

  15. AUSTIN says:

    i’m a corper i need money to run my enterpreneurship program.i will even entertain sharing my interest with any one that will help in the transaction.please show or tell me what to do. my phone number is +2347039118615. thanks

18 Comments Trackbacks For This Post

  1. Starting An Online Business | Nigerian Entrepreneur
  2. How To Survive Economic Recession | Nigerian Entrepreneur
  3. 7 Mistakes Home Based Online Entrepreneurs Should Avoid | Nigerian Entrepreneur
  4. Traders Criticize Demolition Of Oshodi Market | Nigerian Entrepreneur
  5. Plan To Delegate Tasks Before You Need To | Nigerian Entrepreneur
  6. Online Business Ideas | Nigerian Entrepreneur
  7. Email Marketing | Nigerian Entrepreneur

Leave a Comment Here's Your Chance to Be Heard!

CommentLuv badge