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The 3 Essential Mindsets an Entrepreneur Needs to Succeed


There are three mindsets that entrepreneurs can adopt in the process of growing their companies. These mindsets—going in the right direction, not now, and being wrong—can be vital to success. By adapting these mindsets, you can learn to lead a high-performing team to new heights. For those entrepreneurs just getting started, here are the 3 mindsets more in-depth, along with tips on execution.

1. The 'this is the right direction' mindset.

The right direction mindset is necessary when decisions have to be made with time constraints. It is an especially important mindset at times of uncertainty, which can happen often in the entrepreneurial world. This mindset works well when the team or company is smaller and you’re making decisions within your realm of expertise. You also need this mindset to take your vision from idea to existence.

That said, be careful getting too caught up in this mindset as your team grows. You will have other smart leaders and the right direction needs to come from the group. It’s not always the right answer that typically works out. The answer or direction the group believes in tends be the right answer.

2. The 'no’ doesn’t mean ‘no,’ it just means ‘not now’ mindset.

First of all, you can’t take “no” personally. Getting rejected is part of the entrepreneurial journey and learning process. Keep moving and don’t let the negativity affect you. Don’t count the noes, count the yeses. Many of the noes really are actually “not nows.” In future years, you can convert people who said no to yes.

No definitely does NOT mean yes or maybe. If you push too hard, you can alienate other people and sever relationships. Instead, when people say no, give them some space and later ask them for feedback on why they said it if it wasn’t inherently obvious. Use questions like: “Why did you decide against using our service?” and “What would make you or would’ve made you a yes?

3. The 'I was wrong' mindset.

It is one thing to strive for excellence; it is a completely different thing to never admit when you’re wrong. No one wants to work for someone who thinks they are perfect and never wrong. It shows a strong sense of insecurity and lack of awareness. The worse thing about being wrong and not owning up to it is that it sets the wrong precedent internally. If you, as the leader, don’t admit when you’re wrong, then others may never do it as well. This means people will not be growing from their mistakes. At times, small issues may snowball into even bigger concerns.

There are also positive outcomes to admitting when you’re wrong. For one, it shows a bit of vulnerability. It humanizes you. Also, owning your mistakes can be very powerful for company culture and getting help. Don’t go too far with admitting when you’re wrong. Not many would want to work for someone who was always wrong.

Adopt these mindsets and apply them to your business to watch your success exponentially grow. Take a team to new heights as an EXIT Realty Massachusetts franchise owner. Spend just 30 minutes to learn how to get started and we’ll equip you with all the tools needed to become a successful entrepreneur.



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EXIT Realty Massachusetts is an Equal Opportunity Employer and supports the Fair Housing Act. Each office is independently owned and operated. Site is subject to change without notice. While the information on this site is deemed to be accurate, EXIT Realty Massachusetts does not guarantee its accuracy, and provides this information without warranties of any kind, either expressed or implied. This site is not intended and shall not be deemed to constitute any offer to sell a franchise. Franchise offerings shall only be made by a Franchise Disclosure Document. Please disregard if you are currently under a contract with another brand.

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