Entrepreneurs… Is Your Employee Mindset Holding You Back?

I have a question today for anyone that’s an entrepreneur.

Is your employee mindset holding you back?

You might be wondering what started my trek down that rabbit hole. The truth of the matter is that when I started getting serious about my 2020 planning, I had to face the fact that my mindset and some of my habits were indeed holding me back. They were causing me to play small.

What do I mean by that? In spite of outsourcing a lot of things, I am doing too many tasks in my business I shouldn’t be doing. It’s just that simple. I want to go on record and say this is the year that’s going to change, and I mean it. I am in the process of creating a new outsourcing plan for myself. More on that at a later time.

Why Did You Start Your Business?

When you’re just starting out, it’s pretty typical that it’s a one-man show. However, you cannot grow a real business if you stay that way. It certainly impacts the money you make when you’re trading YOUR hours for dollars. So, let’s take a look at some of the differences between the employee mindset and the entrepreneurial mindset. That is the first thing that needs to change.

The Beginning of the Entrepreneurial Journey

I want to be clear that there is absolutely nothing wrong with being an employee. The world needs employees and the particular skills they have. Not everyone has the desire to own their own business. However, it’s a fact that entrepreneurs have to learn to look at things differently which means they need a different mindset. Let’s dive into that.

The Employee Mindset vs the Entrepreneurial Mindset

One important distinction between the mindset of employees and entrepreneurs is the way they look at these two things: security vs freedom. As entrepreneurs, freedom is one of our big “whys”. That’s not to say that we don’t also value security, but we want the freedom being an entrepreneur allows us. On the other hand, most employees place a high value on security. Entrepreneurship is way too risky for them.

Looking at my childhood, I grew up during a time when most people wanted the perceived “security of a job”. It was very common for people to get a job right out of school and stay in the same company until retirement. My dad was an entrepreneur though, so I always understood the benefits of entrepreneurship. I also understood the worry and the stress that went with being the owner of a small business from a very young age. Here’s the thing; people with an entrepreneurial mindset just accept that as part of the package. They accept and are OK with a certain amount of “what if’s” and insecurity.

4 Other Important Distinctions

2. Strategic thinking.
Entrepreneurs have to think strategically to grow their businesses, while employees are generally just thinking about what they have to do today. This is one area where the employee mindset really holds entrepreneurs back.

3. Risk avoidance.
Another big difference is that employees generally avoid taking risks. Remember, they want security. Business owners have to get comfortable with taking calculated risks if they are going to be successful.

4. Results vs effort.
Robert Kiyosaki once said, “When things go wrong, a successful entrepreneur is the first to raise their hand and admit it was their fault. And when it comes to rewarding talent, this is based on results, not effort”. Entrepreneurs value results. If they can figure out a way to get a job done faster and with less effort, they are all in.

Someone with an employee mindset has been trained to believe that their effort should be rewarded; you work an hour and you get paid for that hour. If you think back to the very first job you had, the boss was quick to point out how things were to be done. They told you the rules, and they almost always discouraged any kind of independent thinking or even the suggestion that there might be a better/easier/faster way of doing something. We were taught this mindset right from the beginning. That’s why it’s so easy to fall into the trap of doing everything ourselves as a business owner. We think it’s our effort and our hard work that brings us success.

Getting Rid of the Employee Mindset

However, once it really sinks in that you’ve been doing things all wrong for way too long, you can begin the process of change. After all, we did this to ourselves. We unknowingly created this situation, and we have to be the ones to change it.

First Steps

Take a hard look at that list and put a checkmark beside at least 5 things that could be outsourced right away. Remember, you want to ditch the employee mindset. You can get a VA (virtual assistant) on Upwork for as little as $4.00 or $5.00 an hour. Having someone take even a few of these tasks off your plate for as few as 4 or 5 hours a week can be life-changing. We’re talking baby steps here. You can take those few hours, head out to a coffee shop and work ON your business strategically. It’s important to leave your actual work-space when you do this.

Next Steps

Your Zone of Genius

This will be different for everyone. In my business, I am the face of my blog and my podcast. These are two things I wouldn’t outsource since they are so intricately tied in with my brand.

Once you are clear on the only things you should be doing, make the decision to get rid of the rest of those tasks over time. I want you to think long term. Full disclosure; this won’t happen overnight. I can tell you from experience, it won’t happen at all without a plan. My very first attempt at outsourcing was all laid out on a whiteboard in my office. That’s where I had all the tasks listed. Next, I underlined the ones in blue marker that I identified as the first things I wanted to outsource. Once I had actually outsourced a particular task, I checked it off with a different color marker. (You probably figured out I’m a very visual person).

Something else I had on this whiteboard was things I wanted to create that year like coaching programs, new marketing campaigns and other ideas for growing my business. I still have that whiteboard today, and it always reminds me of the power of doing this exercise. The very act of creating such a visual plan is so powerful. Do yourself a huge favor and get a big sheet of whiteboard at one of the big box stores like Home Depot or Lowes. You can get a sheet of that for about $10.00 or less.

My Challenge to You…

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Originally published at https://louisvillegalsrealestateblog.com on January 2, 2020.

I help real estate investors generate more leads, close more deals, and make more money. Learn more here at the https://LouisvilleGalsRealEstateBlog.com