Business Hacks: 21 Simple Mindset Hacks for Entrepreneurs

Business mindset: a way of thinking that enables you to uncover and see problems as opportunities, and then turning those opportunities into a business. SkiptoprimarynavigationSkiptomaincontentSkiptoprimarysidebar Iinterviewed483topentrepreneurs.Thesearethebestbusinesshacks. Doyoueverwonderwhysomepeoplehavetheabilitytobouncefromsuccesstosuccess,withoutfalter? Tobeclear,noonehasthatability,butitcanseemlikethat. Notsurprisingly,weneedmorethanmotivationalquotestosucceed.Therearemanymindsets,skills,andattributesrequiredforsuccessasanentrepreneur. Fortunately,mostofthemcanbelearned,strengthened,andnourishedthroughdiligenceandawillingnesstogrow. Havingthepropersuccessmindsetasanentrepreneurwillenableyoutodealmoreeffectivelywiththeday-to-dayofyourbusiness.Becauseyouwillbe thinking–andacting–likeatrueentrepreneur. Businessmindsetdefinition Businessmindset:awayofthinkingthatenablesyoutouncoverandseeproblemsasopportunities,andthenturningthoseopportunitiesintoabusiness.Itisanunderstandingthateverythingaroundusistheresultofsomeonehavinganideaandthenexecutingit. Thesearethe21businesshacksthatwilldramaticallyimproveyourbusiness–andlife. 1.Believeinyourselfandyourbusiness Youhavetoberesilientandabletocontinuebuildingwhatyoubelieveisthenextbestthing.Thingsyoubuildwilloftennotsucceed,butultimately,thoselosseswilladduptoawin,basedonwhatyou’velearned. Todddidn’tjust putoutBuySellAdsandstartearning$10 million ayear.Theprocesstooksevenyearsandwasfullofstruggles,hardship andthingsnotworkingthewaytheyweresupposedto.Thosestrugglesare necessarytoachieve success. 2.Thinkthreestepsahead Ifollowmygut.Idon’tplaychess,butIimaginethatifIdid,Iwouldthinkofeveryopportunitythreestepsaheadineverypossibledirection. Evenifitseemslikesomethingwouldbenefitmeinthenow,itmightnotbenefitmeinthelongrun. Ilovethecomparisonbetweenentrepreneurshipandplayingchess.Youalwayshavetothinkthreestepsahead.Don’tjustaskyourself,“Whatishappeningrightnow?”but “WhatwillhappenthreestepsfromtheactionI’mgoingtotaketoday?” Youdon’tsucceed expectingonethingtobeyourwinningticketinthebigentrepreneuriallottery.Youhavetothinklong-termandhaveavisionofwhereyouwanttobe– that’showtobeanentrepreneur. 3.Dothehardestthingfirst Thehardestthingisusuallythethingyoushouldbegoingafter.Chancesarenobodyelseis,oratleastveryfewpeopleare.Personally,IfeelcomfortableandeventhrivewhenIdon’thaveacluewhatI’mdoing. Itisessentialthatyougetusedtotheuncomfortablefeelingofnotknowingwhatyou’redoing. Whetherit’sgettingonstagetospeak,launchingyourproduct orwritingabook,wetendtoseeothersdoingitand(falsely)assumethey’vealwaysbeengoodatit. Weallhavetodoeverythingforthefirsttime,andnoneofusdoesanythingverywellthefirsttime.Theonlywaytotrulylearnaboutbusinessistostartabusinessofyourown. 4.Thinkbigandsmall Youhavetolearntothinkbigandsmall.Youhavetogointhesamedirectionwithsmallday-to-daydecisions,aswellasbigactions.Onceyouareonyourway,youwillmostlyhavetooccupyyourselfwithlittlethings,whichcanbetedious.Nevertheless,youaretheonewhohastodothemright. Thisabilityiswhatmakesusentrepreneurs:attimes,wehavetodotheworkthathastobedone(thesmallthings),evenifwe’renotgreatatitanddon’tlikedoingit. Yet,wealsohavetobeabletostepback,lookatthebigpictureandgivedirectiontotheoverallvision.Thisisthemindsethackweneedtoharnessforbusinesssuccess. 5.Createyourownluck So-calledluckypeoplearen’tnecessarilygettingmoreadvantagesthanotherpeople.Theuniversedoesn’tfavorthem,butthey’reputtingthemselvesouttheremore.They’recreatingmoreconnectionsthatcouldleadtootherstuff.ThatisreallyhowIinterpretluck–creatingmoreofamathematicalprobabilitythatyou’regoingtogetwhatyouwant. Luck’safunnything,isn’tit?AsRusssays,itisaboutcreatingamathematicalprobabilitybyputtingourselvesoutthereandtryingmorethings. Whenyoustartabusiness,itmightfail–don’tworryaboutit–that’showtohaveabusinessmindset.Youmighthavetocreate10 businessesbeforeonewillbesuccessful.Wemakeourluckwiththedecisionswemakeandtheactionswetake.Plainandsimple. 6.Give.Give.Give. IhavetipsandresourcesthatIwanttoshare,andIdon’twanttowaitforapublishingplatformtogivemepermission.Nobodytolduswehadtowaittodoanything–wecouldjustputourideasoutthere,whichwasreallyahugegamechanger.Ihavealwaysfoundthatoversharingpaysoffinreadership.Hence,Idon’tsavemybesttipsformyself,butIsharethemonalloursocialmediaplatforms. Helpingandsharingiscontentmarketing,whichishowyoubuildabusinessnowadays.Buildanaudience,thendeterminewhattheyneedfromyou.Createcontent,findyouraudience,buildyourbusiness. Pleasedonotfallintothetrapofbuildingaproductorservice,andthentryingtofindcustomers–thatisarecipefordisaster. 7.Thegrowthmindset Ifyoubelievesomehowyou’resettoacertaincapabilityandlevelofaccomplishment,thenyou’llneverachieveanythingmore.However,ifyoubelieveyoucangetbetteranddootherthings,thatgrowthmindsetwillenableyoutoaccomplishmore. Thegrowthmindsetshouldbeanobviousbusinesshackanditisessentialtoyousucceedingasan entrepreneur.Youneedtohavethementalitythatyoucanteachyourselftodoanything,aslongasyoupushyourselfhardenoughandtryenoughthings. ThisideahasbeenfurtherexploredandvalidatedbyCarolDweckinherclassicbooksimplytitledMindset:TheNewPsychologyofSuccess. 8.Thepathofunpredictability IhadknownIwantedtostartacompanyforawhile,butit’sdifficulttowalkawayfromapaycheck.ItwasaharddecisionthattookmelongerthanIwouldhaveliked.ItwaseasytoseehowIcouldbemakingmoremoneyworkingforbigger,moreestablishedinstitutions,soIdrewtwolinestocompare.Idrewalineofstabilityandpredictabilityatahighlevelofincome,whereIwouldbeifIhadstayedinthepathIwasin.Ithendrewasecond,lowerlinethatwouldbewhatIcouldexpectasanentrepreneur:bootstrappingacompany,notpayingmyselfasalaryforafewyearstryingtomakeendsmeet,andwithmoreuncertaintyinthelongterm. Thisisnotthetypeofthingmostofuswoulddo,butitmightbethebusinessmindsetyouneedtosucceed. JonSteinisanalytical,sohemodeledandplannedtwopotentialpaths.Ontheonehand,thereisthepathofstabilitywithhigh-payingandpowerfuljobs,whichispredictable. Jondidn’tfoundasmallcompanyinaneasymarketbutstayedintheworldofbankingandinvestments.Eventhoughthatisanincrediblydifficultmarket,heknewitwastherightplaceforhim.Hecouldaffordtobootstrapacompanyforafewyearswithoutpayinghimselfasalaryandwasstillcomfortablewiththewholeidea. Thereisnorightorwrongapproach–justfollowthemethodthatfeelsrighttoyou.Wehavetofigureoutforourselveswhatwillshiftourmindsetinordertotaketheleap.Becomecomfortablebeinguncomfortable. Toaccomplishthistakesemotionalintelligence. 9.Createamissionworthspendingyourlifeon Ihaveconfidenceaboutmyselfasahumanbeing.Justappreciatethatwhereveryou’reat,you’reawholeandcompletehumanbeingwitheverythingyoupossiblyneedtobesuccessful.Youdeservetoachieveandyoudeservethefruitsofyourlabor. LandonRayisaserialentrepreneurwithunparalleledperseverance.Attheageof25,withhisfather’sfinancialhelp,hemadethetransformationfromflowerstreetvendortotopsecuritiesdaytrader. AfterbeatingtheoddsonWallStreet,heusedhisteambuildingskillsandpersonalexperiencetocreateafamilyofproductsthatreflecthispassionforeducatingandsupportingentrepreneurs. Thisisamotivational,inspirationalbusinesshackthathelpsusdealwiththeimpostorsyndromethatentrepreneurssometimesexperience.Aswebegintogainsuccess,wesometimesthinkthatmaybewedon’tdeservethatsuccess.Priortothatstage,wemightreadbusinessbooksbypeoplethatare“famous”orestablishedentrepreneurs,andwhomweconsidertobenatural,bornentrepreneurs. Thereisnosuchthingasabornentrepreneur.Weallhaveitinustostepupandachievethings,aslongaswearewillingtodoso. Wehavetobeawarethatoureverysuccessandourpositioninlifespringforthfromouractionsandefforts.Wedeservethefruitofourlaborandwedeservetodobig,coolthings.ThisisthesamemindsetTiborLaczayusedwhenhedecidedtostartZenniOpticalandtransformtheeyeglassindustry. 10.Yourbusinesswillneverbeworsethanitistoday Ithinkwecountourachievementstoosoon.Somepeoplethinktheywillberichonthefirstdaytheirwebsiteisonline.Thereisamuchbetterperspective:thefirstdaythatyourwebsiteisup,itwilllooktheworstthatitisevergoingtolook.It’stheworstproductofferingyou’lleverhavebecauseyouwillkeepimprovingitfromthere. Fromthemomentwelaunchsomething,whetherit’saproduct,anentrepreneurpodcast,ablog,oranewservice,wewantittobeperfect.Soperfectthatittypicallydoesn’tevengetlaunched,becauseitneverlivesuptoourexpectations. Weoftenthinksomethingisafailure,evenwhenwe’veonlyjuststarted.Bewillingtosuckatthebeginning.Beawarethatyouhavetoprogressivelygetbetter.Thisisabrilliantmindsetforbusinesssuccess. Feelcomfortedbytheknowledgethatwhateveryoudoorpublishtoday,thatistheworstitwilleverbe,andyouwillcontinuetonurtureandimproveit. 11.Don’tstrugglewithfailure Thereisadifferencebetweenfailureandyourstrugglewithfailure.Youdonothavetostrugglewithfailure.Thatisachoiceonyourpart.Ifyouacceptthefactthatthepersonwhofailsthemostwins,youcanalsoacceptthatputtinggoodeffortintosomethingthatfailsisakeypartofyourjob. Hereisanotherepicbusinesshackfromworld-renownedmarketerSethGodin.Failureissomethingthatisinevitableinbusinessandinlife,butsomehowweseembetterequippedtodealwithitinday-to-daylife. Westartdealingwithitthemomentwhenwelearnhowtowalkbecausefallingisanessentialpartofthelearningprocess.Youhavetofallagainandagainuntilyou’velearnedhowtowalk.Givingupisnotanoption. Weshouldbearinmindthatbusinesssuccessworksinthesameway.Failingispartoftheprocessofgettinggoodatandmasteringsomething.Makingmistakesanddealingwithyourfailuresispartofyourjobasanentrepreneur. 12.Haveanincrediblevisionforyourbusiness Youdon’tclimbstraightfromnothingtosomethingbig.Youhitanobstacle,climboveritandreachthenextleveloftheplateau.Youcrossthelineagain,crossanotherobstacleandclimbtothenextlevelagain.Themoreyoudothat,themoreyouwilllookbackandrealizehowfaryou’vecome.Itisallaboutovercomingeachobstacleasithits,andnotgivingup. Thereisnosuchthingassmoothsailing.Nevertheless,whenyoufallwhileclimbinganobstacle,yousimplylandbackontheplateauyouwerejuston.Youdon’thavetostartfromscratchagain. Thisishowlifeworksingeneral:everythingseemstobegoingwelluntilsomethingsideswipesyou.Theanalogyoftheplateausisfittingforasuccessfulbusinessmindsetbecauseyoualwaysjustfalldowntothepreviousplateau.Theonlystruggleisgettingontothenextone. Onceyouachievethat,youaresafethereandonlyhavetopoundonthenextobstacles.Brianknowsthisbetterthananyone,ashehashadtodealwithmuchcrazierbattlesthanmostofuseverwill. 13.Dosomethingbold Failuresinbusinessareopportunitiestobeseized.Ifyoudon’tfailatonepointinyourlifetime,youwon’texperiencetheultimatefeelingofsuccess.Truesuccesscomesfromapileoffailuresandlearningfromthem.Asaresult,you’llbeabletomaketherightchoices.I’mnotaperfectperson.Ihavemademistakes–asanentrepreneur,asasmallbusinessowner,asahumanbeing–andwillprobablymakeatonmore.Asaresult,I’lllearnfromthemandbecomeevenmoresuccessful.Youneedtobuildthesamesuccessmindset. Whensomethingdoesn’twork,changeitdrasticallytoseewhatdoeswork.Theclassicdefinitionofinsanityisdoingthesamethingoverandoveragainexpectingadifferentresult. Ashumanbeingsandasbusinessowners,wegetstuckinourruts.Wedothesamethingsoverandoverwithoutthinkinguntilsomethinghappens. Nellie’sbusinesswasabouttofail,soshechangedsomethingandrealizedthat40%hadjustbeenaddedtoherbottomline. Itisnecessarytodoboldthingsasarule,notjustwhenyouaregoingoutofbusiness.Testeverythingandcontemplatewhatyourbusinesscouldbe.Evenifyourbusinessisdoingokay,youcoulddosomethingbold.Theworst-casescenarioisthatyougobacktodoingexactlywhatyouweredoingbefore,soitisalwaysworthashot. 14.Youdon’tneedpermissiontobeanentrepreneur Whenababyislearningtowalk,theyconstantlyfallover,butthatdoesn’tmakethemwanttostoptrying.Theydon’tthink,‘That’sit,I’mdonewithwalking.Ilookstupid,everybodyislaughingatme.Iwilljustcrawlfromnowon.’Ashumanbeings,wearenotnaturallyafraidoflookingstupidorfailing–wegeteducatedintoit. ThisisbyfarthebestbusinesshackIhaveheardabouthowtobecomfortablewhilebeingwrong.Whenababydoesnotyetknowhowtowalk,theywon’tstoptryingafterfallingdownafewtimes. Wearenotbornafraidoffailure,butwearetaughttobeembarrassedbyit.Bearingthatinmindwillhopefullyhelpyoutakealeapintotheunknown. 15.Bepassionateaboutyourbusiness(notyourmarket) Ithinkalotofentrepreneurslimitthemselvestothemarketstheyarepassionateabout.Personally,I’mpassionateaboutbusiness.Whenwewentintothesurvivalandpreparednessmarket,Iwasn’tthatpassionateaboutit.Idon’tevenlikecamping,butIknowthatotherpeopledo.Idon’tthinkyoucanremovepassionfromtheprocess–someonewillalwaysbepassionate.Itjustdoesn’thavetobeyou,soIseemyselfasapublisher,aproducer,anowner. Ryan’sbusinesshackisnotjustforentrepreneurs.Alotofentrepreneurs–andpeoplelookingtostartasidehustleorbecomeafreelancer–thinktheyneedtogointoamarketthattheyarepassionateabout.Buteithertheirpassiondoesn’talignwiththemarketthatishungryforaproduct,oritjustlimitstheminsomeway. Ryan’spassionisbusiness,sohecanenteranymarketanddoreallywell.Hehasabusinessmindset. ThisishowIseeit:ifIenteramarketthatiseasytomakemoneyinandbuildagood,solidbusiness,Icanusethemoneytobuytimeandfreedomandfollowmypassions.Thisistheultimateonlinebusinessmodel. AsRyansays,heconsidershimselfaproducerandabusinessownerratherthanthepersonwhoispassionateaboutaspecificmarket. 16.Writedownyourfears(notyourgoals) Peoplealwaystellyoutowritedownyourgoals,butIwritedownmyfears.Writingdownyourfearsmakesthemlooklessscary.Whenyoudimensionalizeyourownfearsandrisks,it’samazinghowmuchcourageyouwillrealizeyouhave. Goalssettingcanbeverylimiting:onceyoureachagoal,youhavenothinglefttodo.Yourfears,ontheotherhand,areatthebasisofanintrinsicproblem:whyareyounottakingactiononyouronlinebusinessideas,startingabusinessorgoingtowardsyourgoals? Theanswerisusuallythatyouarescaredbecausethereisahugeamountofaspectsyoudon’tknowthefirstthingabout. Thereasonwedon’tdothingsisnotthatwedidn’tsettherightgoals,it’sthatweareafraid. Ihaveapieceofpaper,a“fearspage”ifyouwill,onwhichIwritedownwhateveriskeepingmefromdoingsomethingataspecificmoment.Bydoingso,Icandimensionalizemyfears,asJaysaid.ThishasenabledmetoseewhatmistakesIhavemadeandhowlimitingfearscanbe.Don’twritedownyourgoals,writedownyourfears. 17.Mostthingsinlifefail(andthat’sokay) Wehavenoabilitytopredictourfuture,soitisimportanttohavethemes.Jon’sthemewastogotoamastermindinordertoinspireandbeinspiredbysmartpeople,whichprovidedhimwithavarietyofwaysforself-improvement.Thatisathemeratherthanaspecificgoal.Histhemeledtohimstartingapodcast,whichI’msureheenjoys,orhewouldn’thavedonesomanyepisodes. Themesratherthangoals. It’struewedon’tknowwherethefuturewillleadus.IknewIwantedtocreateanonlinebusiness,andmypodcastendedupbeingthatbusiness. JamesAltucherisright:IhadnoideaIwasgoingtocreateit.IamquitesurethatifI’dknownwhatwascoming,Iwouldhavegotboredandlostmypassion.Asaresult,Iwouldhavebeenunsuccessful. Iagreethatweshouldbeopen,becausewecan’tpredictthefuture.However,havingthemesaroundwhatyouwanttodoisagoodthing.Themesarethebestwaytosetyourselfupforsuccessasyouseeit. 18.Beapainkiller(notavitamin) Everycompanyneedstosolveaproblem,whichyoucancomparetothefunctionofapainkillerasopposedtoavitamin.Whenwehaveatoothache,wewantapainkiller,notavitamin,andwe’rewillingtopayforit. Doesabusinesshackgetanysimplerthanthis? Ifyourbusinesssolvesaproblemthatyourcustomerisexperiencing,thenyouaretheirpainkiller.Thecustomerwillimmediatelyneedyourassistance. Eventhoughthevitaminmarketismassive,it’samuchtougherthingtosell,becausevitaminsareeasilyforgottenabout.IlovethesimplicityofMatt’sapproach:“Beapainkiller,notavitamin.”Ifyouofferaservicethatpeopleareinneedof,theywillhappilypayforit. 19.Ifyourbusinessfails,it’sbecauseyousuck There’snomiddleground.Somethingeitherworkedbecauseitworkedout,oritfailedbecauseIwasn’tgoodenough.That’sokay.Ihavetobeokaywiththepossibilitythateverythingcouldfallapart,evenifIdoeverythingIcantomakethiscompanyhappen.Ifitfails,it’sprobablybecauseIsuck. Sayingthatsomethingfailedbecausewesucksoundsreallyharsh,butitisabsoluteownership.Itisimportantthatwetakethisownership,notjustofthecompanieswebuild,butofourentirelives. Eventhoughmanysituationsareoutofourcontrol,wecan’tjustsitthereworryingaboutwhatcouldgowrong.Moreover,wecan’tblameotherswhensomethinghappenstous.Weareresponsible. Whenwedecidetoputourselvesouttherebycreatingaproduct,serviceorstartup,wehavetobeawarethateverythingcomesdowntous.Weareputtingourselvesontheline.Bydoingthat,weallowourselvestosucceed,justlikeAustendid. 20.Avoidtheentrepreneurialgap Thegapiswhat’sbetweentoday’sgoalandthehorizon.Ifyoulookbackatyourachievementsandconsiderhowfaryou’vecome,youwillstayoutofthegap.However,ifyou’realwayswalkingtowardsthehorizon,withoutturningaroundandrecognizingyourgoalsasyouachievethem,youwillneverfeelfulfilled. Theentrepreneurialgaphascausedahugebusinessmindsetshiftforme. Itiscrazythatweasentrepreneursarealwayssearchingforthathorizon.Wesetgoalsthreemonths,sixmonths,ayear,fiveyearsinadvance.However,whenwehitthosegoals,weinstantlysetfiveortenloftierones. Congratulateyourselfonyoursuccessesandimprovementsasyougo.It’sanamazingaccomplishmenttoworktowardssomethinginordertobetteryourselfandyourfamily,andyoushouldspendmoretimecontemplatinghowfaryouhavecome. Itistemptingtothinkalwaysfeeltheneedtofirstaccomplishacertainthing,achieveacertainresult,orletyourbusinesshitamilliondollars. Therewillalwaysbesomethingnew,sotakethetimetofeelproudofwhatyouhavealreadyachieved. 21.Knowenoughtobedangerous Asentrepreneursweneedtoknowenoughtobedangerousineveryarea.Ifsomeonecrossesourpathandisn’tgoodattheirjob,wehavetobeabletorecognizethat.That’spartofwhatcreatestheselongdays:weneedtolearnallaspectsofthebusiness.Ifwedon’t,itishardtodelegate,becausewedon’tknowwhatisgoodandwhatisbad. Oneofmyfavoritebusinesshacks:Knowingenoughtobedangerousgivesustheleveragepointsthatweneed.Itisveryhardtooutsourcesomethingcompletelyifyouknownothingaboutit. Obviously,wedon’tneedtoknoweverything andbeaccountants,lawyersandeditorsall-in-one,butwehavetoknowenoughtobedangerous. Don’tlistentotheexpertswhotellyouthatyoucanonlydoatinybitofyourbusinessandhavetooutsourcetherest.There’snosuchthingasafour-hourworkweekandbeingabletooutsourceeverything,especiallynotatthebeginning. Unfortunately,youhavetodiveinheadfirstandlearneverythingaboutyourbusinessthatthereistolearn.ThisworksifyouwanttolearnhowtogetonthefirstpageofGoogleorsellcoursesonline. Then,whenyougetluckyandhavethatmomentum,youcantaketherevenueyou’vecreated,takeallthebitsofknowledgeyouhaveandputpeopleinplacetotakecareofthosethings.Remember,it’sstillyourbusinessandyouarestillresponsibleforit. It’syourturntoimplementthesebusinesshacks Learninghowtohaveabusinessmindsetwillaffectyoursuccessorfailureinbusiness.Luckily,yourmindsetisalsothethingyouhavethemostcontrolover.chooseoneofthesesevenmindsetshiftstoadopt andbeginworkingonitsdevelopment. Asyoubecomemoreconfidentandcomfortablewiththisnewmindset,moveontothenext.Pushyourselftobeonepercentbetterthanyouwereyesterday,andstartwithchangingyourmindset. Developingthesesuccessmindsetswillgiveyoutheresilienceanddirectionyouneedtopushthroughtheupsanddownsthatcomewithrunningabusiness. AreYouReadytoThinkLikeanEntrepreneur?Takeourbestsellingmindsetcourseandlearnhow483Successfulentrepreneursthinkandact.LearnMore JonnyNastorHey,I'mJonny.Mymissionistohelpyoufindyourfocusanddoworkthatmatters.Todothis,Iworkasaconsultant,bestsellingauthor,andfounderofHTE. 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