The Psychology of Being a Game Changing Entrepreneur
If you’re serious about becoming an entrepreneur, find something your passionate about. Passion shines and reflects in everything an entrepreneur does, making both the personal and professional brand irresistible to investors, clients and any future employees, they take on the journey of success with them. When you’re running your own business, it’s essential to understand the mindset you’ll need to embrace, in order to become a game changer in your chosen field. Starting a business takes time, effort and sacrifice in the early days.
The Economist, Joseph Schumpeter, described the role of entrepreneurs in the economy as creative destruction, launching innovations which both simultaneously destroy existing industries and open the gates to new ones.
Entrepreneurs tend to display and utilise a uniquely distinctive thought process, called effectual thinking, which stems from the ability to be creative. The more common process, known as causal thinking, starts with defined goals and plans and reaching outcomes by sticking to, and following, a rigid process. An effective entrepreneur is likely to make a start with what’s available to them in the present, rather than waiting for something to come to them. Game changing entrepreneurs focus intensely on an opportunity where others see nothing and create the desire for their personal and professional brand.
What Makes an Entrepreneur a Game Changer?
An entrepreneur needs to continuously learn and adapt, as new information becomes available throughout the lifecycle of the business. At the same time, they have to remain persistent to the cause and mission of the vision. This ability to look at how tasks are approached on a daily basis, makes this type of person stand out from other people, and has been associated with 5 core, distinctive, entrepreneurial behaviours.
Autonomy
With characteristics such as creativity, effectual thinking, risk tolerance and flexibility, entrepreneurs are highly self-reliant, motivated and driven individuals. They’re very much self-driven and highly motivated.
Innovativeness
Entrepreneurs are less process-driven and more flexible, so they’ll be willing to try new ideas and ways of doing things.
Risk-taking
Starting a business can feel like a huge risk, but a true entrepreneur will be able to see the end goal and is willing to take those risks, based on the overall benefits to their lifestyle, finances and, the immense opportunity to create a distinctive work-life balance.
Competitive Aggressiveness
Entrepreneurs are driven by success, which by nature, makes them competitive within their chosen field or sector. They’re driven to be the best they can be and stay ahead of the competition.
Pro-activeness
They’ll never sit back and wait for something to happen. They’ll actively go out and create their own opportunities and unique business models.
Which One Are You?
Psychologists commonly split the types of Entrepreneur into 6 “personalities” who are easily identifiable by what they do and achieve.
Recognising these different traits and employing a variety of these methods, will immediately, set you apart as a game changer, as no one will be able to define which type of entrepreneur you are:
World Changer
They’re keenly aware of the environment, both on a local and global scale, and want to make a difference in the way things work around them.
Innovator
These guys and girls are all about creating a product, or providing a service, which disrupts their chosen marketplace.
Opportunist
With an understanding of intuitive timing and are able to choose the right locations to deploy those ideas, this type of Entrepreneur is a force to be reckoned with.
Jack of All Trades
Unafraid to explore new trends, flexibility and diversification, are key traits, and ensure their success in business.
Serial Entrepreneur
Always striving for the big thing. This type of entrepreneur usually handles stress better than most people and enjoys and thrives in a changing and developing environment.
Wantrepreneur
These people aren’t quite ready to make the move, but they understand the benefits and see the positives of owning their business.
This is a sample from the chapter ‘The Psychology of Being a Game Changing Entrepreneur’ published in the book U Can: Run Your Own Business. The chapter is by Abigail Britnell. Pick up your copy today.
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