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October 4, 2018

282 Mindset for Entrepreneurs: Foundation & 3 “Quick” Wins

Mindset for Entrepreneurs and eCommerce Sellers

This autumn, I’m going to be creating a series of podcast episodes dedicated to the theme of mindset for entrepreneurs. The reason why I’m creating this series is simple. In the 2 1/2 years I’ve been coaching new sellers, it is – somewhat to my surprise – the biggest block to progress for new ecommerce entrepreneurs.

What do I mean by “Mindset for Entrepreneurs”?

Good question. First of all, by “mindset for entrepreneurs “, I do not mean  some quick NLP “hacks” or sales techniques.  This is a very pragmatic, real-life based set of practical steps and actionable insights.

It’s also about sustainable mindset change, not the sugar high of a hack. So you’re following some 21-year-old who has made some money for five months and knows how to get 50,000 YouTube followers. Great. Desirable tactical abilities for sure. Learn what’s on offer. Still, in your heart, you know it’s not the way to create sustainable wealth. And I would agree with you!

Hence the need for a deeper solution.

For sure, we are going to include such seemingly mundane blocks as time management. Mechanics and technique, right? Well, dig deeper. Managing time productively implies the  question: what am I trying to even produce? Which is of course goal setting.

But where do these goals come from? And, having set goals, and even pencilled some time into the diary, how do we assure that actually happens? Grand plans with little action are as common as leaves on a true. How do we actually get into action? And stay in action?

These are some of these reasons why I’m creating this mindset for entrepreneurs series.


This episode: Mindset overview and Some “Quick” Wins


Three “Quick” Wins Habits to set up the right Mindset for entrepreneurs

  • Daily journalling (review your day)
  • Gratitude lists
  • Meditation

Why bother?

  • Turns out* that mindset issues are the No.1 block to entrepreneurs starting actual businesses
    • Lack of Confidence
    • Lack of Motivation
    • Confusion
    • Poor Time management
    • Isolation
    • FEAR
  • Resentment/Self pity
  • Some naturally have them
  • Others have worked at them
  • That includes some pretty Alpha male/hardcore people
    • Arnie meditated for a decade
  • Ben Cummings meditates most mornings Before starting his day
  • Some naturally have them
  • Others have worked at them

Journalling Your shortcomings/bad events – a key development in the mindset for entrepreneurs 

  • Be Aware what has gone wrong 
    • Admit when you’re wrong
    • Forgive others when you turn out to be wrong
  • Done daily, I really notice the change in my mindset

Your shortcomings – another 

  • Be Aware what has gone wrong 
  • Admit when you’re wrong
  • Forgive…yourself and others
  • Do this daily and notice the change

Framework for “Mindset for Entrepreneurs” series: “The 7 Habits of Highly Effective People” (Stephen R. Covey)

Inside out 

Be proactive

Begin with the end in mind

Put first things first


mindset for entrepreneurs

Inside out” 

The new “old” secret to entrepreneur mindset

personality vs. Character ethics

Past 50 years – superficial band aids, aspirin

Personality ethic

Addressed acute problems


First 150 years

Basic principles of effective living (also of Mindset for entrepreneurs)

  • Integrity
  • humility
  • fidelity
  • courage
  • patience
  • simplicity
  • the golden rule

Ben Franklin’s autobiography

Personality ethic:

Public Relations techniques

Positive Mental Attitude (PMA)

Manipulative techniques

Reference to character ethic lip service

  • Personality growth
  • Communication
  • Education in influence strategies
  • Positive thinking

These are Secondary, not primary, traits in the right mindset for entrepreneurs

“Only basic goodness gives life to technique.”

Stephen Covey

“What you are shouts so loudly in my ears that I cannot hear what you say”

Principles (of genuine Mindset for entrepreneurs)

“Principles are like lighthouses. They are natural laws that cannot be broken.”

Principles are not…

“Correct maps will infinitely impact our personal effectiveness far more than any amount of effort expended on changing our attitudes and behaviors.”

Principles of growth and change

Principles of growth and change for entrepreneurs (and others too)

“If you don’t let a teacher know what level you are – by asking a question, or revealing your ignorance – you will not learn and grow.”

“To relate effectively…to working associates, we must learn to listen. And this requires emotional strength. Listening involves patience, openness and a desire to understand – highly developed qualities of character.

It’s so much easier to operate from a low emotional level and to give high-level advice.”

Borrowing strength is not the answer

Borrowing strength =using your position and authority and forcing people to do what you want.

  • Borrower – reinforces dependence on external factor
  • Person acquiescing
    • stunts growth of:
      • independent reasoning,
      • Growth
      • Internal discipline
  • Relationship:
    • Fear replaces co-operation
    • Arbitrary
  • Defensive

“What happens when the source of borrowed strength – …be it…position…changes or is no longer there?”

“Be nice to people on your way up because you’ll meet them on your way down.”

The Quick Fix Delusion

“People are intrigued when they see good things happening in…organizations that are based on solid principles…

‘How do you do it? Teach me the techniques.’

What they are really saying is:
‘Give me some quick fix advice or solution that will relieve the pain in my own situation.’

They will find people who will meet their wants and teach these thing; and for a short time, skills and techniques may appear to work. 

“The more people are into quick fix and focus on the acute problems and pain, the more that very approach contributes to the underlying chronic condition.

‘I’ve taken course after course on effective management training. I expect a lot out of my employees and I work hard to be friendly toward them and treat them right.

  • Take dramatic action: make heads roll
  • Find motivational training programme
  • Hire new people
  • Take dramatic action: make heads roll
  • Find motivational training programme
  • Hire new people

“There’s so much to do. There’s never enough time. I feel pressured and hassled all day, every day…I’ve attended time management seminars and I’ve tried half a dozen different planning systems. THey’ve helped…but I don’t feel I’m living the happy, productive, peaceful life I want to live.

  • “There must be something out there”
  • New planner
  • New seminar
  • [Podcast?!]

“if you want to have more freedom, more latitude in your job, be a more responsible, more helpful, more contributing employee.”

Stephen Covey

Characteristics of the right Mindset for Entrepreneurs

If you want to have freedom and value/wealth in your business and life, you have to be…

  • Proactive enough to start without being told to and being managed
  • Disciplined enough to do it when you don’t feel like it;
  • Courageous enough to start AND carry on in the face of fear and failures;
  • Caring enough of your customers needs as to create fantastic value/products/marketing.

Inside out (the Real secret to developing the winning mindset for entrepreneurs)

“The inside-out approach says that private victories precede public victories, that making and keeping promises to ourselves precedes making and keeping promises to others.”

“I have never seen lasting solutions to problems, lasting  happiness and success, that come from the outside in.”

(Stephen R. Covey)

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