How to Become an Entrepreneur by Having Entrepreneur Mindset

How to Become an Entrepreneur

How to become an entrepreneur having entrepreneur mindset is a question we always ask. Wish to start a business but have no clue where to begin? Don’t worry. You’re not the only one like this. In fact, increasing number of people are realizing that their dream job doesn’t exist. Some have concluded that they’d instead develop the work they love. Tailor made to suit their personal goals. Regardless of why you want to be your boss, you may start today.

Related: Habits of Millionaires: Rich Habits Which Self-Made Millionaires Practice

What Is an Entrepreneur?

An entrepreneur is someone who begins a new venture.

But, that’s not the only thing you need to do to become an entrepreneur. While each entrepreneur is the owner of a small business, not each owner is an entrepreneur.

We see entrepreneurs as individuals who have a knack for spotting opportunities. People who have turned these opportunities into profitable businesses.

Related: How to Make Money from Home: Methods, Tips and Drawbacks

8 Tips for How to Become an Entrepreneur

Tip 1: Take Your Stand

If you’re not satisfied with the ongoing circumstances, know that only you can fix them. It’s no use blaming the economy, your partner or your boss. The change will happen only when you take a determined step to make it happen.

Tip 2: Find the Right Business for Yourself

Be bold enough to explore. Look at different aspects of your personality and pay heed to your intuition. We usually ignore intuition although deep down we also know the truth. Question yourself. E.g., ask, “what keeps me going even when I’m down?”

How to know if the business is meant for you? Here are three essential approaches to entrepreneurship:

Do what you know: Were you laid off? Or need a change? Reflect on work you did for others in the past. Then think of how can you bundle those skills and present them as your product/service.

Do What Others Do: Study other businesses which fascinate you. On identifying a suitable business, emulate it.

Resolve a common issue: Is there any gap in the marketplace? Would you like to introduce a new service/product to fill this gap? If you opt to do this, ensure that you first turn a student and acquire maximum knowledge. Only then invest your money. Remember that this approach is the riskiest of all three.

Tip 3: Engage in Business Planning. It Increases Your Chances of Success

Most people fail to plan. But planning will allow you to get faster to the market. A business plan will give you clarity, confidence, and focus. Your business plan doesn’t need to be long. One page would suffice. As you write your goals, action steps and strategies, your business turns real.

Question yourself on the below things:

  1. What am I making?
  2. Whose needs will I address?
  3. What promise am I making to myself and my clients?
  4. How do I plan to attain my goals?

Tip 4: Find Out Your Target Audience Before Investing Anything

Before spending even a penny, find if people will buy your service/product or not. This can be the essential thing to do. You can do this by confirming your audience. In simple words, precisely who’ll buy your products/services besides your family and friends? How big is your target market? Who’ll be your consumers? Is your product/service meaningful to their life? Why they need it?

There is unlimited industry data you can access for free. Read Census data and trade articles to know. Naturally, Google the relevant market insight reports and trade associations. But, the most useful way to get this data is directly asking your target audience.

Tip 5: Know Your Finances and Pick the Right Type of Money for Your Business

As an entrepreneur, your business and personal life are linked. You’re likely to the first and perhaps the only investor. Hence, you must have a thorough knowledge of your personal finance and how to track them. This is why we suggest keeping your accounts in money management systems like It will simplify the process for you.

As you’re developing your business plan, you should consider the type of business you want to build. It can be a franchise, a lifestyle business or even a high-tech business. Depending on your type, you’ll need the suitable funds to launch and build your business. And the kind of money you accept does matter.

Tip 6: Develop a Support Network

You have an internal commitment to your business. So, you also need to make a network of advisors, supporters, vendors, partners, and allies. You need to believe in your company for others to believe in it too.

Network nationally, regionally, locally and through social platforms. Join platforms like, the chamber of commerce of your city or any other business group you deem fit. Below are few networking basics:

  1. Ask questions when in a networking event. You should ask others about their profession. Then think how you can be of help to them. The key not to sell yourself, but to listen more.
  2. Regardless of the group you join, help others. Be generous and make free introductions.
  3. When you become a generous leader, yours will be the first name on their mind if someone needs help.

Tip 7: Sell by Value Creation

Although we buy products/services every day, people don’t prefer to be “sold.” So, your focus should be on serving others. The more you help, the more money will go in your pocket. When considering your target audience, ask yourself:

  1. What I’ve to offer them?
  2. How can I help them succeed in their pursuits?

This way you can learn new ways to master your product/service and add more value. Your customers will surely appreciate this.

Tip 8: Spread the Word

Don’t hesitate to say who you’re and what’s your product/service. Say it with conviction and with no apology. Learn and use the most efficient online tools like Facebook, LinkedIn, YouTube, etc. to spread your news. Use these social platforms as “pointer” sites. This means pointing toward anything you feel may interest your followers.

Although social networks are essential, don’t underestimate the value of other methods. You can work wonders with blog posts, PR, newsletters, word-of-mouth marketing, and the age-old but still crucial telephone.

If you smartly use a mix of these tools, you’ll be on your path to becoming a successful entrepreneur. Are you your boss but still think you’re stuck? Then reach out and network with other entrepreneurs. You’d be surprised by the useful contacts you’ve.

Related: How to Save Money Fast: 100 Best Ways to Get You Started Saving Fast

Traits of Successful Entrepreneurs

Do you’ve what it requires to become an entrepreneur? Below are ten traits which make successful entrepreneurs stand out:

Trait 1: Motivation and Passion

Though there’re many characteristics which make a person a successful entrepreneur, motivation and passion are the most important.

  1. Is there anything you can work on repeatedly without being bored?
  2. Does something not let you sleep because you didn’t finish it properly?
  3. Is there anything you’ve created and wish to keep improving upon it?
  4. Does something interest you so much that you want to keep doing all your life?

Success is a fruit of determination and passion. Whether it’s presenting your idea to angel investors or developing a prototype.

Trait 2: Fearless and Risk-Takers

Entrepreneurs like taking risks. They’re ready to take the plunge into a future full of uncertainty. But, remember, not every risk-taker becomes a successful entrepreneur. So, what sets a successful entrepreneur apart from others in terms of risk? Well, successful entrepreneurs are ready to risk their money and time on the unknown. But, they also have a reserve of resources and backup plans to deal with the unknown. When assessing a risk, successful entrepreneurs will question whether the risk is worth their money, time and career. They also think in advance that what they’ll do if the idea doesn’t pay off.

Trait 3: Hard Work, Discipline, Self-Belief and Dedication

Entrepreneurs have faith in themselves and are committed to their venture. Their full confidence in and focus on their idea may be mistaken for stubbornness. But, it’s their readiness to work hard and challenge the norms which makes them successful.

Trait 4: Flexible and Adapting

Being dedicated and passionate is crucial. But, if you’re not flexible to market/client needs, then you’re likely to fail. Note, an entrepreneurial project isn’t only about doing what you think is right. Instead, it’s also about turning it into a profitable business. Successful entrepreneurs embrace all proposals for customization or optimization which may satisfy market/client needs.

Trait 5: Market and Product Knowledge

Entrepreneurs know everything about their product. They even know the market inside-out. Most get success because they offer something which wasn’t there earlier. Some improve upon an existing offering. Being unaware of the market needs, competitive strategies and other forces can make even great products a failure.

Trait 6: Effective Financial Management

No entrepreneurial venture becomes profitable in a fortnight. Till it becomes profitable, capital is limited and should be widely used. Smart entrepreneurs plan for both current and future monetary obligations. Hence, they keep aside a contingency fund. Even when they start getting funds or become fully operational, they maintain a complete account of cash flow. This is because money is the lifeblood of any business.

Trait 7: Effective Planning Skills

Entrepreneurs build a business from scratch while managing scarce resources. This demands planning. But, if you try planning for everything so that there’s a ready solution then you may never take the plunge. Successful entrepreneurs do have a business plan, but they can still deal with unexpected situations.

Trait 8: The Right Networks

Most people find comfort in sympathy. That’s why they complain to their friends/family about unfair competition, economic slowdown etc. But, complaining isn’t going to improve the bottom line. Thus, successful entrepreneurs connect with mentors and other experienced people to get valuable suggestions. If they lack the needed technical skills, they’ll outsource it to someone who can do technical tasks. This way the entrepreneurs can focus on other areas of their business.

Trait 9: Smart Enough to Exit

Every attempt can’t be a success. The rate of failure of entrepreneurial ventures is quite high. At times, the ideal solution is calling it quits and trying something else. It’s no use continuing to put money in a failing project. Most famous entrepreneurs weren’t necessarily successful the first time. But, they were smart enough to know when to quit and move on.

Trait 10: Ability to Question Themselves – Not Too Much Though

You can ask yourself if you’re an entrepreneur. This very question can give birth to doubts about the answer. It doesn’t matter if you don’t possess the skills of Elon Musk or Steve Jobs. But, if you can ask yourself intimidating questions then you’ve what it takes to be an entrepreneur.

Related: Millionaire Mindset: A Must-Have to Make Money and Achieve Financial Freedom

How to Find a Cofounder

Conventional wisdom suggests you must find a co-founder when starting a business. There’re three benefits of having a co-founder.

Funding becomes easier. Several venture capitalists believe that multiple founders add to a company’s value. These investors are hesitant to support solo-founders.

In Fact, Paul Graham (Y Combinator co-founder) believes solo-founder is the main reason for failure. He cites, “have you observed that very few successful startups had a solo-founder? It doesn’t look like a coincidence.”

You get emotional backing. Running a company is no cakewalk. It’s a blend of stressful, unique and exciting experiences. It becomes tough to ride the emotional roller-coaster alone. You’ll have to face the tough times by yourself and even celebrate the good times alone. A co-founder exactly knows what you’re going through because he/she’s going through the same. This’ll make you less alone.

They can add different networks, skills, and knowledge. You might be exceptional at selling, but your co-founder is adept at technical aspect. This way two abilities are merging into one to produce something extraordinary. Selecting a co-founder who complements your resume is likely to increase the chances of success.

But, having a co-founder has its share of drawbacks too.

High chances of conflict. Conflict is inevitable when two people are running a business. A healthy disagreement can be productive. But, if you fail to find the solution fast, you’ll waste both energy and time. Besides, you’ll damage your team’s morale.

You’ll need to divide equity. If you own the business solely, you begin with 100% equity. Over time you hire more people and get funding, you’ll disburse the equity. But the division will be somewhere between .005% to 35%. In contrast, if you have a co-founder, you’ll take a cut of 40-60% directly in a single swoop.

Finally, you need to find a co-founder. It’s quite challenging to get someone who has the same working habits, business ethics and matching the personality. Plus, they ought to have faith in your vision, and contribute the needed skills. Most importantly, they must have the intention to be your co-founder. The list goes on.

However, it’s noteworthy that an assessment of many successful startups revealed that over 50% had solo-founder. Hence, don’t blindly follow traditional advice, and instead, decide as per your situation.

Related: Financial Freedom: How to Make More Money and Achieve Your Goal

Where to Find a Cofounder

If you decide you want a co-founder, the next step is finding one. Look at your network first. Choosing someone you already know, or whom your connections can vouch for, is much less risky than a stranger.

This concept works in reverse as well: You’ve also got a better shot at convincing them to join you if they’re a first or second-degree connection.

Related: How to Get Rich Quick By Investing, Saving and Expense Cutting

How to Get Funding for Your Startup

You should spend money to earn money. Hence, to fund your new business, consider the options given below:

Method 1: Family and Friends

Many entrepreneurs depend on family/friends for the first investment. This is typically called “seed funding.” You may give a stake in your business in exchange for funding. E.g., your cousin gets 5% of the business after lending you $12,000. Or you can even ask for donations and personal loans.

Method 2: Small Business Grants

Local, State and Federal governments run programs to aid small businesses. These programs include grants, low-interest loans, and venture capital. Check out to find programs your business is eligible for.

Many companies do not provide quality. So, it’s possible you may not find anything. But, it’s worth a try.

Method 3: Crowdfunding

Fundable, Indiegogo, Kickstarter, GoFundMe plus many other crowdfunding mediums help you gain funding via an online campaign.

This approach not only generates capital but also helps you obtain early feedback and brand awareness.

Method 4: Angel investors

Angel investors seek early-stage business which can give them a return of 10X or above. Normally they invest $25,000 to $100,000. So, if you do the math, they’re seeking companies worth $2.5-$10mn in the future.

They’re highly involved in ensuring you understand your target market, how you’ll earn and how you’ll grow. So, ensure you’re ready with a robust business plan and quick signs of traction. E.g. “we tripled our profits from Jan to June” etc.

Besides an angel’s money, you’ll gain access to their connections and expertise. In return, they’ll get equity.

Method 5: Venture Capital

Venture capitalists seek private, young firms. Akin to angel investors, VC look for high-return, high-risk investments. They expect returns depending on the level of maturity of your start-up. If they put money just before your firm goes public, a three times return is right.

But, if a VC invests too soon, they might be thinking of a 7 or 10 times return.

To understand more about venture returns, read Fred Wilson’s blog on the same.

Method 6: Credit Cards

It’s usually not a great idea to use a credit card for paying business expenses. Unless you can pay off the balance. At times, there’s no other choice. You need funds and fast. But increasing your credit card debt and sacrificing the credit rating will damage your company in the long run. Your financial health will also get hurt.

Method 7: Loans

It’s difficult to apply for a loan during the first year of your company. This is because lenders don’t want to make such type of high-risk investment. But, there’s the micro-loan program of Small Business Administration. Under this, a small business can get around $50,000. An average SBA loan amounts to $13,000.

Non-profit lenders and micro-lenders are another choices. Such lenders seek disadvantaged or minority entrepreneurs. Their terms and conditions are also very fair.

NerdWallet’s guide to the leading American non-profit lenders is a useful resource.

Method 8: Bootstrapping

You shouldn’t take money from others if you don’t wish to. Some firms don’t raise any funding. Their founders bear the initial costs, and when the business turns profitable, the revenue covers all expenses.

Through this option, you can keep a more significant share of your business. But, your growth will be less quick due to lack of substantial cash infusions. If you choose to bootstrap, keep the budget as lean as possible. This will extend the life of your company.

Being an entrepreneur is a ride full of ups and downs. There would be moments of joys just like there would be times of disappointment. But, at times, a good advice from someone can help you swim through the rough waters

Related: How to Make Money Without a Job? Yes, It Is Possible to Earn Money

Entrepreneur Mindset 

All entrepreneurs are the same. They have a distinct entrepreneur mindset which adds to their success. This entrepreneur mindset may have a link to their personality. It might also have to do with their chosen field of work.

When you’re determining your approach to the hurdles of entrepreneurship, consider learning from others’ experiences.

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What Is Entrepreneurial Mindset?

The entrepreneurial mindset is the specific state of mind that angles human behavior toward entrepreneurial activities. People having entrepreneurial mindset are more inclined toward innovation, opportunities, and value-creation.

Traits include the knack of taking calculated risks plus the ability to embrace the realities of change.

Related: How to Get Rich and Become a Millionaire: Pursuit of Happiness

12 Signs You Have an Entrepreneurial Mindset

If you’re asked to describe a typical entrepreneur, how would you describe him? Optimistic? Dedicated? Passionate? Yes, these qualities do apply. But troublemaker and insecure are more apt, as per ‘treps. The ‘treps know a success when they witness one. Do the following characteristics, quirks and traits describe you? You may well be an entrepreneur.

Sign 1: You Believe in Taking Action

Barbara Corcoran is the founder of The Corcoran Group and also co-stars TV’s Shark Tank. She claims, “people who have an idea but not essentially an elaborate strategy, are likely to have entrepreneurial je-ne-sais-quoi. I dislike entrepreneurs with detailed business plans.”

So what does Corcoran suggests? “Invent on the go. Don’t waste time to write a beautiful plan.” In fact, she feels that those who examine business tend to overanalyze situations. They fail to take timely actions.

Sign 2: You Have Your Fears

Corcoran says, “Many entrepreneurs whom people think of as ambitious are very insecure within.” When assessing potential investments, she says, “I want a person who’s scared to death.” People who’re nervous to fail may become hyper-focused. They’re then ready to do anything it takes to succeed. So, if you’re insecure, use that feeling to anchor you to attain your business goals.

Sign 3: You Are Resourceful

Tony Hsieh is the CEO of Las Vegas-based company Zappos. He says, “When I was growing up, I just loved watching MacGyver. Because he never had the resources, but somehow he’d find a way to make everything work. Eventually, I think this is what being an entrepreneur means.” It does not have sufficient resources, rather being resourceful with what we have.”

Sign 4: You’re Concerned About Cash Flow

Brainshark is a Mass.-based sales productivity software provider. Its founder is Joe Gustafson. Before founding Brainshark, Joe bootstrapped a project called Relational Courseware. Joe admits, “All I ever cared about was liquidity and cash-flow. There were seven instances in the history of the company when didn’t have enough cash to make payroll.”

What was his response? “In the earlier times, you could put expenses on your card. But one good only go that far. You ought to have cash.”

Sign 5: You Don’t Seek Permission

Stephane Bourque is the CEO and founder of Incognito Software. As per him, real entrepreneurs are more likely to seek forgiveness than permission. They forge ahead to deal with the issues or opportunities they spot.

“Entrepreneurs don’t ever get satisfaction with status quo,” claims Bourque. He discovered very early on that he wasn’t meant for the corporate world. Bourque’s boss saw his better and new ways of doing things as unwanted criticism. This was when he understood where his destiny was. Now, he asserts, “I want my employees to get into more trouble. This shows that they’re searching new opportunities to improve company operations.”

Sign 6: You Are Bold

Robert Irvine is a chef and hosts the Food Network’s Restaurant: Impossible. He says, “Where most see risk, entrepreneurs realize potential.” Real ‘treps aren’t afraid of leveraging their houses and extinguish their card balances to get funds. He says, in some ways, entrepreneurs are ultimate optimists. Because they think that their investment of money and time will pay-off.

Sign 7: You Embrace Change

“If you’re flexible about the outcomes, you’re less likely to make it,” says Rosemary Camposano. Rosemary is the CEO and President of Halo Blow Dry Bars, a Silicon Valley chain. According to her, one should be ready to listen. Because your clients can tell you which of your services/produces offer maximum value.

Her initial vision for her company was part gift store, and part blow-dry bar. She explains, “this was to help busy ladies multi-task.” But she learned quickly that there was too much confusion because of the gift-shop. People didn’t understand the nature of the business. So, she removed the gift shop. And she added an extra blow-dry chair. Things then took off. Wise entrepreneurs constantly evolve, tuning their business in response to customer feedback.

Sign 8: You Love Challenges

When faced with problems, many employees try to shift the baton. In contrast, entrepreneurs rise to the occasion. “Challenges push them to perform better,” claims Jeff Platt. Jeff is the CEO of Sky Zone Indoor Trampoline Park franchise. He further adds, “an entrepreneur doesn’t see anything as impossible. He looks danger in the eye and continues moving.”

Sprinkles Cupcakes founder Candace Nelson agrees. Despite many people questioning her idea of a bakery during the carb-fearing early 2000s, she didn’t budge. And now she is the owner of many locations in 8 states. In fact, she was also among the initial entrepreneurs whose business became a craze. It sparked several copycats.

Sign 9: You See Yourself as an Outsider

Entrepreneurs don’t always get accepts, says Vincent Petryk. Vincent is the founder of J.P. Licks, a chain of ice-cream shops. They’re considered to be demanding, opinionated and quirky. But this isn’t a bad thing. Vincent adds, “they’re often unaccepted as they’re different in some way. This makes them work even harder.” Case in point: Instead of copying the other ice-creams shops, Vincent created his path for his company. While others were buying from the favorite suppliers, J.P. Licks, made desserts from scratch in bold flavors.

Sign 10: You Recover Fast

It’s a common thought that successful entrepreneurs fail often and fast. As per Corcoran, the trick lies in the pace of recovery. When you fail, don’t feel sorry for yourself. Avoid swallowing. Instead, immediately move on to the next thing.

Sign 11: You Listen

Actress Jessica Alba is the president and co-founder of Santa Monica based “The Honest Company. This company sells a home, baby and personal care items. Alba says, “it’s vital to have those people around you who’re smarter than you. You should listen to ideas which are not yours. I’m very open to ideas of other people who know what I don’t. I believe success takes collaboration, communication, and at times, failure.”

Sign 12: You Focus on Important Things

“Entrepreneurs fall and get up until they are at it,” claims Micha Kaufman. Micha is the CEO and co-founder of Fiverr, a fast-growing online freelance marketplace. During the launch of Fiverr, there were many potential challenges. But, Kaufman and his team were focusing on the single biggest challenge all marketplace have: creating liquidity. If there is no liquidity, then there’s no marketplace.”

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9 Mindsets You Need to Move From Being an Employee to an Entrepreneur

Mindset is a significant factor contributing to success in every stage of life. In simple terms, how you think throughout your life, dictate the results you get.

But, not all situations need the same mindset. Mindsets should change depending on the circumstances. People who want to quit their jobs to become an entrepreneur must always remember this thing. But sadly, not every potential entrepreneur understands the need for dramatic mindset changes. And in the absence of this, business success is unlikely.

So how should you think differently to be a successful entrepreneur?

Mindset 1: You’re Accountable for Every Decision – Both Good and Bad

Entrepreneurs have an excellent opportunity to build something from absolutely nothing. But this also means taking huge decisions about how, when and what to do. You can’t waste time waiting for things to happen. Or for someone to instruct you what needs to be done. Instead, you should make things happen. Successful entrepreneurs also know that opportunities can be temporary. Hence, they create a sense of urgency to help them attain their goals.

Mindset 2: You Need to Have Both Long and Short-Term Visions Simultaneously

When working with others, your primary task is to ensure that the delegated work is done. But, as an entrepreneur, you need to look beyond the current. You must develop forward thinking to know the potential opportunities and pitfalls. Then make decisions around all the uncertainty. This needs you to understand that what you do/don’t do today, will impact your business later.

Mindset 3: the Feeling of Being Uncomfortable Is the New ‘, Comfort Zone’

As an employee, you mainly think inside-the-box, instead of outside it. But, in the life of an entrepreneur, there isn’t any box. Your strength lies in seeing what others can’t. You test new ideas, take risks, grab new opportunities. This demands boldness, thick skin and being able to continue despite rejection.

Mindset 4: Learning Is a Constant Journey

When working for others, you have a set job-description, needing specific skills. But, as an entrepreneur, you need to keep learning. Only when you have the funds to outsource areas you lag behind, can you stop learning a specific thing. Else, you just can’t afford to learn. Because what needs to be done, should be done. There’s no space for excuses.

Mindset 5: Numbers Don’t Lie

Where numbers come into play, as an employee it’s enough to know the inflow and outflow. But, as an entrepreneur, you need to learn to love numbers quickly. Because it’s your cash flow that’ll either keep you in or out of business. Eventually, it’s the cost, sales, profit, and loss which either give a desirable lifestyle or sleepless nights. But, without numbers, your business will be heading nowhere.

Mindset 6: Love Your Business, but Be Practical

As an employee, you may do something you don’t like just for salary. But, as an entrepreneur, you’ve to love your business. This is because it demands long hours and significant efforts. But you should never think and act like an employee in your own business. Hence, don’t work ‘in,’ and instead, work ‘on’ the business. Only then will you become the person to steer your business forward.

Mindset 7: Enjoy Breaking Rules

If you break the rules as an employee, it may mean dismissal. In contrast, entrepreneurs don’t care about status-quo. They always seek new ways of doing things. This means developing a global mindset, always looking beyond the horizon to find the next big something.

Mindset 8: Time Is Not Linear

As an employee, you follow a timetable. But, as an entrepreneur, though you may not be glued to your desk 24/7, you’ll always think about the business. E.g., what needs improvement, what’s going well and so on. You’ll have no respite. In fact, you’ll be living and breathing your business.

Mindset 9: Begin Now

Most people don’t understand how much time it takes to become an entrepreneur. Hence, it’s only wise to start changing your mindset while you’re still in the job. Maybe, set-up a business to run simultaneously. This can provide you the chance to build skills and experience while still making your salary.

So, what do you prefer now? Entrepreneur or employee? Is it the right time to switch? Well, it’s entirely your choice.

Related: Shopping Tips for Saving Money: Read Before You Go Shopping

Best Read for Today’s Entrepreneurs

One of my best reads is a business book which isn’t overtly about entrepreneurship. It’s “How to Win Friends & Influence People” by Dale Carnegie. Most of the successful people I know and even the famous, successful people like Warren Buffett attribute most of their success to this book. We understand why.

The lessons of this book are timeless. Plus, it’s an easy read. In fact, you can finish it in few small sessions of reading every day. Every time I re-read it, I get embarrassed. Because it covers the mistakes, we tend to make over and over. As human beings, we move back to the “I” orientation. But this book pushes us to rethink, “How may I serve you?”

Here’s an overview of some of the leading principles.

Principle 1: Put Yourself in the Shoes of Other People

Since grade school, we’re taught to be empathetic. But, hardly any of us put it to work in the business world. It needs the discipline to see ourselves as someone else in a situation and think things from his perspective. This approach helps whether we’re trying to handle a situation from a client or an employee’s perspective.

Principle 2: You Can’t Always Be Right. but Never Try to Prove Others Wrong

I’d never thought about this principle until I read the book. It’s said that a person convinced against his will, still holds the same opinion. Hence, there’s no gain if you forcefully try to impose your view on someone. In fact, you lose when you want to make the other person wrong.

Still, most people do this. Let’s think of our common interactions with others. How many times do we aim to be correct? Think of a disagreement on how to improve a product. We should ask ourselves, do we want to improve the product or win the discussion? One should always be open to feedback.

Principle 3: Try to Get Along with People You Work With

People know if we like them or not. Who’s the most famous person around? The family dog, who smiles at everyone as he walks in the door flapping his tail. We must learn something from the family dog. It won’t hurt us. Animals can teach us a lot.

Principle 4: Don’t Get into Arguments

Find common ground – always. It’s often there. Although points like these may seem childish, they’re just as valid today as they were when Carnegie wrote them. The main difference? Most people who’re strong live such stuff.

Principle 5: Use First Names When Addressing Someone, and Don’t Forget Them

People are fond of their names. Such orientation toward others is often mentioned in the book. Even in samples on how to write a letter by focusing on the concerned person. E.g., don’t start a letter with “We were considering a solution for your problem.” Instead, pay attention to the other person. Write, “you’re going through a difficult time.” This is the part of seeing everything through “How may I serve you?” lens.

Many entrepreneurs suggest reading this book. It is a must-read. Carnegie writes in stories and parables. He demonstrates precepts in a manner easy to remember. Mix the lessons of this book with our knowledge in our sectors. By doing so, we’ll have the necessary tools to begin any business correctly.

Related: How to Start a Business: Best Tips and Guidelines for New Business


Entrepreneurship is a journey which begins with oneself. So, if you wish to be your boss, don’t think about having a big idea. Instead, start with a small idea because we tend to have them every day.


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