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After finalising the study-abroad destination and the programme of study, If someone said to you, ‘Here’s how I made a million dollars and I’m willing to share my secrets with you’, you’d listen to them, wouldn’t you? It’d be insane not to. We all know that success leaves clues, so it makes sense to follow those who have gone before and learn from what they’ve done.
Having interviewed dozens of successful online entrepreneurs, I’ve discovered that there are certain things they all have in common. Developing an ‘entrepreneurial mindset’ is one of them — a way of thinking that is
slightly different from the way most people think. I’ve condensed those differences into five qualities. These entrepreneurs:
trust their crazy ideas — they back their judgement, listen to their instincts and persist in the face of relentless criticism
get started — they start small, pivot quickly and are hands on (especially at the beginning)
have depth of vision — they look at what the trends are and look further ahead than most (which is why their ideas are sometimes considered ‘crazy’)
know what business they’re in — they know what sector they operate in and who their competitors are
know what problem their business solves — they know exactly why a customer will buy their product
and the revenue model that underpins that transaction.
The entrepreneurial mindset is not something most people are born with, but it can be learnt. That’s what step 1 is all about.
Trust your crazy ideas
Trust your crazy ideas
Entrepreneurs think differently too, which is why entrepreneurship often attracts the crazy ones, the ones prone to breaking the rules, the ones who don’t say, ‘Why?’ but ‘Why not?’ This ‘craziness’ is often borne out of a passion — a passion to right a wrong, make a difference, solve a problem, make a million.
This begs the question, ‘What’s the difference between someone being seen as crazy and someone being seen as visionary?’ The answer? The crazy ones just take longer to give up. Jeff Bezos’ Amazon started in 1994 but didn’t turn a profit until 2001. Alibaba’s Jack Ma and Google’s Sergey Brin and Larry Page also struggled to make money in the early days. Yet all persisted and stuck to their vision in the face of immense criticism and public pressure.
People said Trump was crazy when he declared in the 1990s he would one day become President of the United States.
People said Musk was crazy when he said that Mars travel would become a commercial reality.
Trump’s and Musk’s crazy ideas took nearly two decades to manifest, and here we are, watching the consequences of those ideas play out in our news feed each day. When an entrepreneur’s audacious idea fails, they’re considered crazy. When their idea succeeds, they’re considered visionary. Musk is both crazy and visionary. As for Trump? History will be the judge on that one.
From zero to hero
Take a look at some of the crazy ideas that are succeeding right here in Australia and you’ll realize that anything is possible. And the factors of digital disruption are compressing the time frames, which means fortunes that would have taken a lifetime to amass are now being