Opinions expressed by Entrepreneur contributors are their own.
You’re reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
If not now, then when? To take a leap into the unknown from a hitherto safe place takes a whole lot of courage, as well as a paradigm shift in mindset.
I would know, because I have worked on both sides of the equation, and I have since learnt the need to think differently from everything I knew before.
A business owner’s mindset is a powerful tool that can make or break the business, and it is not something you learn at school or on the job. I could either survive with my employee mindset, or thrive with an entrepreneurial one.
I decided to surround myself with thought leaders, other business owners, mentors, and coaches, as I saw how their minds worked completely differently from mine, and I wanted to learn from their experiences.
The shift from being an employee to a business owner requires you to challenge everything you knew before, assess risks, and embrace them anyways. From working in the business, you need to switch to working on the business. From working hard for your money, you must switch to strategizing how to make money work for you.
One of the most important shifts to make is to think long-term. As an employee you are used to focusing on the task on hand, and meeting your key performance indicators for that quarter or year. As a business owner, you must think about the long-term success and growth of the company. This means identifying future opportunities, assessing potential risks, and making decisions that will benefit the company in the long run.
Another significant change is you must learn to live with uncertainty. This means being creative and open to new ideas and opportunities, and taking risks in the face of uncertainty. As an entrepreneur, you will be faced with many unknowns, and you will be required to think quick and act fast.
You will also need to shift your focus from working on tasks, to working on the business. As an employee, you work on specific tasks and areas of work, but as a business owner, you need to focus on the bigger picture, and the overall success of the business. This means thinking about sales, marketing, finance, and other aspects of the business that are essential for success.
A business owner needs to be more disciplined and accountable than an employee. Owning a business means you are responsible for the financial success and health of the company, and you need to make sure you are keeping a close eye on the finances. You are accountable to your employees and customers, and you need to make sure you have the best interests of both.
You also need to shift your mindset from being an individual contributor to being a leader. As a business owner, you are responsible for the success of your employees, and for setting the direction for the company. This requires the ability to make difficult decisions all the time, without the assurance of a safety net.
At the end of the day though, there is no secret sauce to making your business work- but shifting your mindset to a more dynamic, constantly evolving, and growth one can make all the difference.
