It’s true that the first step in becoming an entrepreneur is to determine what business idea you have is profitable. However, the success of that business really lies with your mindset. You may have a good idea, but if you don’t have the right mindset, it’s not going to take you far. If you are truly determined to be successful, any dreams and aspirations you have will come to fruition.

Your field may have hundreds or even thousands of competitors – some may also sell the same kind of product you do. However, how much they make is going to be dependent on the mindset. This is what separates successful business people from unsuccessful ones.

  • A successful businessperson knows a positive mindset will help them to generate higher revenue.
  • An unsuccessful businessperson may have knowledge about business, he/she is not going to be as lucrative as he/she can be and they are okay with that.

If you want to be successful, you must know what both the successful and unsuccessful mindsets are. This will help you to understand what you need to have and what to avoid (so you can make the necessary changes) and see positive results with your business.

Successful Entrepreneurs’ Mindset 

  • Always aims higher and puts attention on up-selling. This person can take $5 and make it $20.
  • Has prepared speech ready in case people want to listen.
  • Understands the power marketing has and uses proven marketing methods. This person markets in good times and downtimes.
  • Believes in themselves to attain goals and pushes themselves beyond their comfort level for the business’ success.
  • Believes customer service is as valuable as offering quality products/services and promotions.
  • This person will solve problems by allocating money where needed and keeping things tight to ensure that overhead costs are low and profits are high.
  • Realizes others’ insights can be valuable and will listen to their thoughts.
  • Continues to work on the business even in slow times. This person is doing what they can to improve the business.
  • Works well under pressure, alert and pays close mind to things to ensure the business is successful.
  • Puts solid ideas into the business plan to boost profits, improve customer service and create promotions.
  • The person will stay cool and calm even when faced with adversity and negative feedback. This person realizes all that goes on and deals with confrontation when necessary.

Unsuccessful Entrepreneurs’ Mindset 

  • This person thinks good enough is good enough. They look at a dollar in profit is better than not having any profits.
  • This person is embarrassed to be proud of his/her success and doesn’t acknowledge how complex the business is.
  • Marketing is only done when the company is slow – all about cutting corners and feels advertising is wasteful when things are successful.
  • Personal self-esteem spills into professional leadership, which affects networking, marketing, public outlook and profits.
  • Customer service is not a top priority and feels offended personally when a customer complains.
  • This person can solve minor issues. However, when faced with harder ones, they have no backbone to address them.
  • They don’t listen to their inner voice, taking advice from the wrong individuals.
  • They use a slow time in the business to enjoy themselves personally, instead of working harder to boost profits.
  • Allows fear to cloud their judgment, leading to panicked decision-making.
  • Won’t implement ideas until the business makes more money.
  • This person has an aggressive attitude and will allow personal feelings to get in the way of smart business when he/she feels they are being taken for a ride.

Do you see clearly what the differences are between the unsuccessful and unsuccessful business mindset? If your goal is to make more money and be successful, then you need to change your way of looking at things to ascertain it. There is no success with negative outlooks or listening to bad advice. Be proud of what you are accomplishing to reap the benefits.