The Business Owner Mindset

A business owner mindset, image created by Midjourney
A business owner mindset, image created by Midjourney

Some people perceive business owners as overqualified and highly skilled superheroes born to achieve big goals. Unfortunately, this thought has stuck in the minds of many who eventually believe that only a few people are intelligent and lucky enough to own and run their businesses. To assure you and prove this wrong, this post highlights and talks about having a business owner mindset and how to get these qualities.

BO ( a business owner still in the progress of becoming one): I have a strong desire to own and run my business one day

Mind: That’s a good start!

BO: Really? You think so? Many people have the same desire but do not get to the bottom of it; how can I be any different?

Mind: I agree with you. But you have to know that wanting to do something, which is owning a business in your case, is only the first thing you have to plant in me. If you do not train and use me afterward the right way, you will miss out on what you want to achieve, like many others who did so before you.

BO: So, how exactly should I train and use you?

Mind: Well, here are the essentials to be able to put on your business owner mindset:

You train your mind to grow, never limit its abilities

A business owner who cannot self-correct cannot thrive.

You train yourself to improve constantly. You look squarely at your own mistakes and deficiencies, and you ask yourself frankly what skills you and your business need to develop to succeed now and in the future. And because of this, you move forward with confidence in yourself and your business that is grounded on facts.

This, my friend, is what psychology calls a growth mindset.

Also, you work on your intelligence and your development all the time. You are not trying to prove that you are better than others. Instead, you are focused on expanding your abilities and stretching what you thought were limits to becoming successful and lead the life you planned for yourself.

Remember, Enron recruited considerable talent with fancy degrees and paid them big money. This could sound like a good thing until Enron made a fatal mistake: it created a culture that forced employees into a fixed instead of a growth mindset. As a result, Enron sowed the seeds of its demise.

Remember the “Three Feet From Gold”

Too many people decide to let go because things get tough. They quit resuming what they planned to do before witnessing a breakthrough. You allow your mind to be defined by “the failure” you experienced. Then, instead of learning from the downfall you just experienced, you give up on the whole thing. All of us are guilty of this at one time or another.

What you need to train your mind on here is to keep going and moving forward. Keep your eye on the game. If you ask anyone about how their businesses started, I assure you that you will find obstacles they had to overcome. But, they were only able to do that because they had complete faith in their business ideas and plans. They did not let a turn in events change the plan they had for their businesses.

In Think and Grow Rich, Napoleon Hill referred to “The three feet from gold” story to explain a similar concept.

Most of the time, those last three feet will be the hardest, but remember – you may be closer to your goals than you can see.

As a potential business owner, you must stay focused on your goals despite how complicated things can get. Trust me, things will only get more challenging, but you will be okay with a mind fixed only on achieving its goals.

Give Before You Get – This is how the business owner mindset works

As a business owner, you have a lot on your plate. You need to handle multiple tasks and have people waiting for your input to act. This becomes a lot easier when you have your trust network around you, your people, in other words. You have people around you who care about your business as much as you do. Is it easy to find those? Of course not. However, an important thing to start with is to give to others if you expect them to do the same for you. You offer your time and energy to others and seek their input. Doing so creates your safety net with people willing to contribute to your business the same way you did for them. People think they will only receive and take because they want to own their businesses. On the contrary, it’s a two-way street. Give first to obtain what you planted in others.

Giving creates a shift in your mindset.
Scientifically speaking, selflessness increases dopamine and oxytocin levels in the brain. These chemicals contribute to happiness and pleasure, focus, curiosity, bonding with others, and stress regulation. All of these you need to run your business, my friend.

Train your mind to always give and learn from others in exchange.

“Embracing a giving mentality in life is not only the right thing from a moral perspective. From a much more practical point of view, it has a phenomenal impact on our psychological well-being and can be a core driver of our success in life.” 

Rafael Sarandeses

Bottom-line, The Business Owner Mindset

That was our glimpse into the mindset of a business owner.

To sum up, with your burning desire to start your own business, you need to train your mind to own and run that business. You push your mind to grow, rise above obstacles, and give to others. As simple as it sounds, you only reach this through hard work.

Remember that you don’t have to act alone. You can always seek support from business leaders and entrepreneurs who have walked the same path. Hearing this from someone who walked the talk makes things a lot easier and more practical to follow.

Meet The Author Of This Article

I’m Jenny Ayman, a project manager in the development field with specific knowledge and experience in capacity building and entrepreneurship programs. I aspire to transfer the hands-on experience I gain in my professional career through writing.

Also, if you need help planning your business, I recommend checking out some of our freelancer’s business plans or pitch decks!