Success is all about Mindset - Build It With A Mentor

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Let's be extremely clear, this article is about facts. I'll try to make my case on why it's much more likely that you'll succeed IF you possess the right mindset and give you examples and 2 concrete data-driven findings to accompany this concept. Furthermore, if you read until the end of this article, I'll show you how you can connect with an expert business mentor who can help you on the road to entrepreneurial success.

Why do some entrepreneurs succeed and others fail?

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    In empirical studies, there are two classifications for the desire of entrepreneurs who start a business. Those are the necessity-driven and the opportunity-driven entrepreneurs. Out of these two groups, the first ones tend to succeed much more at building and maintaining small businesses over time, while the latter tend to fail more, but hit the jackpot once in a while. Here's why:

Necessity-driven entrepreneurs have everything to lose. They've put it all in the line and bet on themselves to build a business that will not only sustain their livelihood but those of their family members and loved ones. They are driven by NECESSITY.

Most of these entrepreneurs are located in developing countries, which basically means they are alone in their fight, and they know it. It's all up to them, no government, organizations, or banks will lend them a hand. That ownership of their mission and their extremely harsh circumstances lead those “necessity” driven entrepreneurs to understand that there's no space for failure.

That's why most of them succeed, that is, at building businesses that will usually stay local and small, instead of worldwide and disrupting.

On the other hand, we have opportunity-driven entrepreneurs. Usually, from more developed countries, these entrepreneurs are habitually highly educated and tend to start lots of businesses (including tech and online ones) much more than the other group.

But, and a big but- they fail outstandingly often.

Why? Well, these entrepreneurs don't put it all on the line, they have a safety net more often than not. Whether it's family, a corporate career, or others, they are not driven by the same fire as the necessity-driven group.

They'll fail constantly, abandoning their business ventures without looking back, or exiting their companies early rather than later. However, in the current climate their skills tend to “show up” when the time calls for it, and some opportunity-driven entrepreneurs like Mark Zuckerberg, for example, have made millions out of what could be considered “following their passion”.

Out of this two groups we can gather a simple conclusion, if starting small and steady is what you what, then the right "Mindset" or the fire to succeed is what will drive it home.

But let's go over our second finding in entrepreneurial success and why mentorship tends to play a HUGE role in this whole process.

The importance of CONFIDENCE

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    Sounds cheesy? Well, you better start re-thinking it. Confidence is actually a self-reported data sample, but it's night and day when it comes to success versus failure. Not surprisingly, most entrepreneurs that are successful report high confidence rates, while the ones who failed report a small percentage.

But here's the thing, confidence is not directly linked to ability or efficiency. And while that may not be the “hot news” you were expecting, these are: High confidence and low-skilled entrepreneurs tend to balance themselves in other aspects, such as building a team or delegating what they are not good at, eventually achieving success.

While on the other hand, low confidence entrepreneurs tend to lack even the soft skills necessary to open those doors.

While that may sound discouraging for some, here's when mentorship comes into play. The data on mentorship for small businesses is, still lacking, to say the least. Hard to crack numbers at a large scale are difficult to come by.

And that is because of the difficulty to measure the real impact of the advice and guidance that a mentor can have on a business. BUT, that is not the same in the case of self-reported confidence numbers for entrepreneurs.

In this case, the impact of mentoring is crystal clear. Having a mentor definitely, and I repeat, definitely increases the confidence reported for most entrepreneurs.

If you add 1 + 1 together, then there you have it. Having a mentor will benefit entrepreneurs of increased confidence to tackle any aspect of business, which will at the same time increase their chances for success.

And that is my data-driven case for the common “Success is all about Mindset”. Circling back to my original promise, here's how you can connect with a business mentor if you're interested. The MicroMentor network was built to answer the all-time question of “how do I find a mentor when I don't know anyone who will be willing to help me”.

In MicroMentor, you can simply sign up, browse your industry for a local or international mentor, and send them a message requesting their help. All, entirely for free. Head over to micromentor.org to find out more.

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