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Thoughts on entrepreneurship, technology, innovation, startups, small business, manufacturing, engineering, & 3D Printing 

An Entrepreneur’s Approach to Life

Bassanio Peters

Entrepreneurs-Approach-To-life.jpg

The majority of the population subscribes to a very common formula for approaching life. That formula is this: do well in school, so you can go to college/university, so you can get a good job. While that approach may have been wise in an early time, in the 21st century it is not the wisest approach, at least from a financial perspective.

The statistics reveal the flaws in this approach. The average adult changes careers 5-7 times, often due to forces beyond their control (layoffs, outsourcing, etc.). The average employee will not be able to afford a dignified retirement at age 65.

The average college/university graduate enters the workforce with tens of thousands of dollars in student loan debt, and their starting salary is almost always below what they expected. Evidently, trying to achieve financial success using this approach is an uphill battle.

I wish that I had been taught a different approach to life from the public school system. Fortunately, I was wise enough to seek out a different approach on my own. The one I discovered belonged to the entrepreneurs of the world.

They approach the game of life in a completely different manner. They avoid the other approach at all costs, and are often ridiculed by the masses because of it. But when they succeed, they are the envy of those same people who once ridiculed them. Their approach is this:

- What kind of lifestyle do I want to be living in the future? (Vision)

- What kind of business will provide me that lifestyle? (Mission)

- What steps must I take to make it happen? (Goals)

VISION:

“The best way to predict the future is to create it.” – Peter Drucker

Your vision for your life must be holistic; it must include all the areas of your life – not just your business. How healthy will you be? How much time for family will you enjoy? Will you have an active social life? What kind of career/business will you be devoted to? What will your annual income be?

How often will you travel? Will you work on weekends? Will you work from home? What kind of car will you drive? In what city will you live? These are just some of the questions you should be asking yourself. Collectively, the answers to these questions will formulate the vision for your life.

MISSION:

“Don’t set business goals and then try to fit your life around those goals. Set lifestyle goals and create a business that supports that lifestyle.” – Unknown

Once you’ve identified a vision, the next step is to determine what approach has the highest probability of resulting in the materialization of that vision. While there are some exceptions, in most cases a job will prevent your life’s ultimate vision from materializing. But quitting your job just for the sake of quitting is not a good strategy either.

A good starting point is to identify several individuals who are living the lifestyle that you want, and then determine how they got there. Did they start a business? Did they invest in real estate? Did they publish a best-selling book? What did they do to get there, and could you do the same? Would you enjoy doing the same? If so, it is time to get started.

GOALS:

“Setting goals is the first step in turning the invisible into the visible.” – Tony Robbins

Once you’ve identified a vehicle that will enable you to materialize your vision, the next step is to break the process down into actionable steps (goals). Beginning with the end in mind, identify the process required to achieve that end.

Trace that process back to its first steps, and get started now. By taking consistent steps in the right direction, day after day, eventually your goals will be accomplished. The materialization of your life’s vision is your reward for accomplishing your goals.

Final thought:

It may be easy to visualize that perfect lifestyle that you want to enjoy in the future. What won’t be easy is making it happen. There will be obstacles, setbacks, disappointments and sacrifices along the way. Your persistence must be relentless, but your approach must be flexible.

Sometimes the strategy you start with will open the door to another strategy later on. Sometimes the strategy you start with won’t work at all, in which case you will be forced to find a new one. The point is, never compromise your vision. Change your mission and your goals if you have to, but never sacrifice your vision

Original link : http://www.jeetbanerjee.com/an-entrepreneurs-approach-to-life/

Written by Tyler Basu