Sept. 15, 2015

JCS 023: The Psychology of a Successful Entrepreneur

JCS 023: The Psychology of a Successful Entrepreneur

What is the mindset of a successful entrepreneur? Find out in this episode.

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What goes on in the mind of a successful entrepreneur? What makes one entrepreneur successful and other's not?

Find out in this episode.


Ahh, the life of an entrepreneur...

The sweet life of making lot's of money without working very hard. Sit back and relax, and take 10 vacations this year.
Umm, maybe, maybe not.
Are you an entrepreneur? 
Here's my definition of an entrepreneur.
Someone who is willing to take a risk in order to make money, possibly a living, doing what he or she is passionate about.
Is that you? Maybe you are just starting out, or just dreaming of that day when you start, or  maybe you're a seasoned pro and you are living the life right now.
Have you ever wondered what it takes to become an entrepreneur? To keep going when it's hard, to not get a big head when things go well.
If you're listening to this episode you are probably somewhere on the entrepreneurship spectrum. From just thinking about it, to dabbling in it, to an advanced pro.
But one thing that we all have in common. The one common thread that binds us entrepreneurs together, is our humanity.
We are people with emotions, personalities, relationships. That one common thread that binds us together as entrepreneurs is what I want to talk about in this episode.
The Pychology of a Successful Entreprenuer
Join me as we take this journey together...
First, let me share little about me.
I'm passionate about helping people feel better about life. I am a therapist, or a counselor, or a shrink, whichever you prefer. 
I'm a husband, and my wife's name is Julie. We have been married for over 21 years. We married right out of college.
I have two children (teens).
I own a private practice (entrepreneurship)
I am just starting online (entrepreneurship)
I am energetic, passionate, have a huge tender heart (can be a weakness too), I love to laugh. 
I can feel alone in my entrepreneur life too. 
I feel like a failure at times. 
I feel overwhelmed most of the time. 
I don't always know how to balance my personal life with my entrepreneur life. 
I often think to myself, nobody knows me, whey would they care what I have to offer?
I think, people are already doing what I want to do, so who am I to think I'll succeed?
Sometimes I just feel like giving up on my dream of being an entrepreneur.
Do these thoughts sound familiar? Can you resonate with me?
As a therapist I can't help but think about Entreprenuership a bit differently. 
I want to know what makes one entrepreneur successful and others not so much.
I want to know how successful entrepreneurs keep going even when they fail.
I want to know the psychology of a successful entrepreneur.
What is the mindset and the emotions of a successful entrepreneur? Every entrepreneur, successful or not, starts at the very beginning of the spectrum. Just a thought.
I think of past entrepreneurs who are very success in our eyes today, but they didn't start out that way.
Henry Ford - Invented the Model T and founder of the Ford Motor company. He became the richest and most well known figure in the world.  He was devastated when his mother died and his father expected Henry to take over the family farm. Henry had to make an emotional, decision. To work in the family farm or become an Entreprenuer. 
Ray Kroc - Founder of McDonalds. Everyone told Ray that his idea of a fast food restaurant was a terrible idea. Who would want a hamburger from a restaurant when they can make it themselves. 
Steve Jobs - Failed many times, kept going inspite of the odds against him. 
What made these men, and many other entrepreneurs, keep going? What was it that made them take the risk, not listen to the naysayers, and move forward even after failing and failing some more?
Why didn't they give up?
There is just something in the psychological make up of an Entreprenuer that helps them remain faithful to their dream.
More current entrepreneurs that I follow and you should too if you want to be a successful entrepreneur. You need to surround yourself with other likeminded, successful entrepreneurs, even if it's only by way of virtual communication.
These guys did not start out famous or rich. They didn't start out with a hug following. They didn't have all the answers, they didn't know what would happen down the line. When they failed, they kept going. When they had thought of self-doubt,mother kept going. 
This leads me to my main question for this episode.
What is the Psychology of a Successful Entreprenuer?
This will be an ongoing quest of mine, to learn what the mindset and emotions that make up each Entreprenuer. 
But for now, this is my observations:
  1. Tenacity: Willingness to take risks
  2. Perserverance: Don't give up when the odds are against you
  3. Determination: having the gumption of seeing your project through to completion.
  4. Curiosity: Have a child-like wonderment and asking tons of questions. What if? Turning "why's" into "Why not"?
  5. Creativity: turning nothing into something truly amazing
  6. Heart to help: people come first, money (maybe) later
  7. Vision: following their dream no matter what. Don't get off course.
These 7 traits are what I have found that contributes to the psychology of a successful Entreprenuer.
I have come to realize that being successful is not how much money you can make as an entrepreneur (although the that's great), it's not about how many raving fans you can obtain, and it's not how well known you can become in your niche or field.
It all boils down to who you are as a human being. What makes you - you? If you can harness what makes you unique, not better, but unique - you will be successful.
Never measure your success by comparing yourself with others. Don't expect that you'll become the next Henry Ford or Steve Jobs. You might be. But if you expect to be like them you will fail.
  • You need to understand who you are
  •  What makes you tick?
  •  What are your dreams?
  • Who do you want to help and why?
This is what successful entrepreneurs figured out. They figured out who they were, weaknesses and all, and they capitalized on it. They don't pretend to be someone there not.
That, my friend, is the secret of being a successful entreprener. This episode is not a how to become an entrepreneur or what you need to do to become an Entreprenuer, but rather what kind of a mindset you need to have to be a successful Entreprenuer.
You are unique and you have a lot to offer others. You may need to work on your mindset:
  • Fear
  • Anxiety
  • Shame
  • Embarrsement
  • Pride
  • Self-doubt
So, it really doesn't matter where you are on the entreprenership spectrum, you and I are human beings, with real emotions. That is what ties us all together.


What do you need to work on with your psychology or mindset as an Entreprenuer. Keep going, learn from others, and don't give up.
Chris Ducker's Entreprenteur Membership
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Connect on Twitter: @JohnPCordray