Entrepreneurial Thinking

As we begin working on new and revised goals for FY 2023, I challenge us all to put on our entrepreneurial hat, and not only think about the things we wish to accomplish; but also reflect on how we can and will use the knowledge gained during FY 2022 to make FY 2023 an even more prosperous year for ourselves and our entrepreneurial ventures.

As I reflected and looked back over this past year of rapid change and uncertainty, I found several entrepreneurial attributes that I wish I had a better handle on; early on. I would like to share those attributes through this article; as “food for thought” as we all continue this early development our FY2023 Success Plan.

Entrepreneurial Attribute #1: Embrace Reality Testing – the ability to look reality square in the eye.

I discovered that as an entrepreneur we are often too close to our business to be objective about it. (And there is another important reason to ensure we collaborate with a Coach). Our passion and drive for what we do, can consume us so much it can often make seeing things as they are, rather than as you would like them to be, difficult.
That eternal optimism that makes for great entrepreneurship should never be suppressed, however, it can blind side us if not being watchful. Therefore, we must develop an uncanny ability to face reality and see what needs to be done to make things better.

Entrepreneurial Attribute #2: The ability to prioritize what’s important and what’s not so important.

I discovered that we entrepreneurs are rarely looking for things to do. But being busy doesn’t mean we are being effective. (Again – Being busy does not mean we are being effective). It’s hard to admit, but I myself was seduced by the illusion that activity means progress and accomplishment. Wow! Did I have a wake-up call!! A couple true friends even called me out. All in all, I am glad I am no longer seduced by that kind of thinking.

I believe we all fall into the trap of believing we’re achieving more when we’re busy. But, in most cases, I found that ‘busyness’ was not good for business.

Entrepreneurial Attribute #3: Be willing to think it through – first.

As I reflected on this past year and hard lessons I learned, I am convinced that highly effective and successful entrepreneurs make it a daily habit to diligently think things through. They distill things down to what’s important to complete on a daily/weekly/monthly basis in order to fulfill the short and medium-term objectives that would lead to the positive outcomes desired. I believe this is one of the most important success strategies of all. One I will be applying consistently.

Entrepreneurial Attribute #4: Be willing to get out of your comfort zone – but stay in your strength zone.

For us to be at our most productive self, we need to be aware of (and work within) our natural gifts and strengths.

Life is far too short to not do the things we love. What we do must be lighting us up, bringing us meaning and fulfillment, and be in alignment with our passion and purpose. That’s not what life as a successful entrepreneur is about.

I urge us all to not only invest time looking toward the future and those things we wish to accomplish in FY2023 and beyond, but also invest some time to reflect on this past year of FY2022, and the lessons learned. Our continued entrepreneurial success will depend on it.