What Do Entrepreneurs Think About Most?

Some people think that just because they own a business that they are an entrepreneur. That is not true. One can own a business and think nothing like an entrepreneur. A business owner can just as easily be owned and ruled by their business than an employee can be ruled by his employer. The biggest difference is in how they think and later as they grow and develop there will be another big difference - their income.

Most business owners think in terms of percentage increase. That is what binds them to their income status. They buy product for a dollar value and mark it up by percentage to make a profit. Sounds good accept it never gets to be great unless they open multiple locations. Entrepreneurs already think in the terms of multiplication. Right from the beginning of the equation they are looking for more than a percentage of increase. They are looking to multiply the profit, multiply the locations, multiply the employees, and multiply effectiveness.

Ask any successful entrepreneur what they think about most and they will tell you something about the hunt. They are excited about where there business is going. They are planning the next phase of development. They are not “in” their business in their mind even when they are doing the small things that need to get done. They are “on” their business in their mind. They are thinking about the next blog to write, the white paper that explains things, the elements of the business plan that make the project bigger. They are thinking about franchising and licensing and the investors that they will need to get to the next level. And guess what? They get what they are thinking about.

The difference between an entrepreneur and a business owner is entirely in how they think. Two guys can both own a McDonalds. One is an entrepreneur and the other is a business owner.

The Business Owner Thinks About

·         How to get things done
·         Who to hire next
·         Accounting
·         End of the day report
·         Stocking the shelves
·         Meeting the clients
·         Menial tasks
·         Taking the place of the employee who called in sick
·         Percentage increase
·         The how, the how, the how

Business Owners think “Facts matter.”

The Entrepreneur Thinks About

·         Expansion to new regions and opening new outlets
·         Training a group of people at once and multiplying time
·         Hiring a manager to free up “thinking time”
·         Multiplication of money
·         Owning more than one business and investing in others
·         The why, the why, the why

Entrepreneurs believe “When your attitude is right the facts don’t count.”

How do you think? What do you spend your time thinking about the most?

That is what you will get.

Always Loyal2U,

Kerry George

Mentors and Friends...

A few months ago I realized that I needed to have some mentorship in my life. I became suddenly aware that I was not surrounding myself with people who were further ahead of where I was and that I needed that. I wanted to have someone I could bounce ideas off of and get some insight. I wanted to be stimulated and be challenged. I decided that I may even benefit from someone asking some hard questions.

It is good for a business owner to be around other business owners who are moving forward. If you hang around people who are always struggling you start to feel that life should be a struggle. If you spend time with debaters and those who are looking for conflict you will waste time fighting and arguing. If you hang out with people who are in lack, you will always think there is not enough and have a scarcity mentality. But when you are around those that are always looking for solutions you start to become a solution finder, and when you intentionally spend time with creative people you will become more creative. So I set out to find some good role models.

It is an amazing thing that when you make room for something new in your life and start thinking about that it just seems to find you. When the student is ready the teacher appears.

So new mentors are finding their way into my life. A really great couple began investing time into me. Nice, sharp business people whom I respect and admire. And then I realized I had another opportunity in an old friend I had not considered. He is very successful and busy so I did not think to bother him. Yet he seems to really enjoy investing time in me. This man is a real entrepreneur. Hard core. He started with nothing. He worked real hard and took some risks. He made mistakes, he recovered and learned. He got good in his market. He built relationships along the way. He was buying and selling hotels long before it was popular to do so. He has seen people come and go. His wisdom is staggering.

This week I had a tremendous opportunity to just sit at his feet and listen. He shared a few thoughts on what it means to be an entrepreneur. He said, “Kerry there is probably only 5% of the population who are entrepreneurs or even less. Expect to be misunderstood. They are not going to get it. You have taken the hard road, but it is a worthwhile road. You are going to make it.” That conversation made my week, and I had a pretty good week… But that is the stuff that matters.

When you are out doing something different and wondering if you are going about it right, or if you are making the right choices. There is no road map out there for the entrepreneur. Pioneering something is not often profitable at first. Only when you perfect your offering and establish your self-worth do you begin to get paid. Each step seems hard, yet looking back it was so precious. Remembering where you came from to stay humble and yet looking forward to where you are going to stay focused. Good friends who encourage you along the way are really important.

Wherever you are in life, think about where you want to be. Now who do you know that is closer to that place? Go find a new friend and learn some new things. You will be glad that you did.

Always Loyal2U,

Kerry