When it comes to building an online business, mindset trumps everything else.
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At times, building an online business can feel a little daunting.
With so many new concepts, skills, and knowledge to acquire, it’s easy for us to get overwhelmed in the process.
That’s why developing a success-oriented mindset is critical for your success in the long term.
Here are four key traits that successful entrepreneurs have that you can adopt today.
1) Be positive in the face of negativity.
Staying optimistic in the face of negativity is crucial.
Being optimistic allows you to stay positive, keep focused, and deal with any negativity that may come your way.
The truth is, building an online business can make your friends and family uncomfortable.
You might hear them make comments like:
- “Why bother? Your chances are slim!”
- “Why put your energy into something that doesn’t guarantee your success?”
- “This is a scam. Why don’t you just stick to your day job instead?”
This isn’t to say your friends and family don’t want you to achieve. Most of them do.
But an online business goes against what most of us have been taught. Which is to go college, graduate, and work a job until you retire.
The best way to react to negative comments is to simply remain positive.
Don’t entertain negative energy, and understand that people’s opinions about your goals have nothing to do with you.
What truly matters is how you think about your own goals. So, focus on this.
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2) Embrace the learning curve.
A lot of new entrepreneurs expect their online business to be an overnight success.
They see it as this ‘money vending machine’ where if you put a dollar in, then you’ll get $200 back.
But this simply isn’t how business works! In fact, the average time it takes to turn a profit is 6 months to several years.
Why? Because when it comes to running a business, you need to learn new things. You need to learn how to:
- Find or create a great product
- Put that product in front of the right people
- Give them a great reason to buy
Any type of business can be broken down into these three things. But to achieve this, you need to learn new skills. Skills like marketing, building a website, and working with suppliers.
These skills take time to develop. And can’t be mastered through simply reading a book or taking a course.
These skills are earned through taking action and learning from mistakes.In fact, this is the fastest way to success.
The more you fail, the more you learn from your mistakes, which brings you closer towards your goal…
…and speeds up the learning curve.
With this mind, each time you encounter a roadblock, don’t throw in the towel.
Take a step back. Analyze where you went wrong. Learn from your mistakes. And embrace the learning curve.
The truth is everyone has a different learning curve. Some may experience success early in their journey. For others, it may take up to a year.
This isn’t to burst your optimistic bubble. It’s to give you a reality check—and demystify the picture the internet paints about how easy it is to earn an income online.
This shouldn’t startle you, but rather empower you to embrace the process and whatever challenge comes your way.
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3) Take action, stop over-educating.
Sure, knowledge is great. But it’s no replacement for taking action.
Take the example of becoming a fine dine MasterChef.
If someone said to you “Hey, I have these 5 books written by top master chefs. If you read all of them, you’ll become a master chef too!” You’d probably think they’re being outrageous, right?
Sure, a cookbook may help. But at some point, you’ll need to get in the kitchen and start cooking. You still have to cook, make mistakes, and gain experience.
Until, eventually, through perseverance and learning from mistakes, you learn how to cook the perfect dish.
So, if you don’t believe that you could become a MasterChef from learning books…
…Why on earth would you buy into the idea that you can earn millions online, just through following an online course?
Real progress starts from leaving the dojo, and entering the ring. So, no matter what, never stop moving forward.
Source products to sell. Build a website. Reach out to suppliers. Market your products on Facebook.
The reality is this… If you want to guarantee your business as a failure, then declare it as failure and give up.
If you want to be a success, then tell yourself “I am not going to give up, until I reach success.”
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4) Use grit to push through tough times.
No matter what goal you’d like to achieve, grit plays an integral part.
What is grit? Grit is the ability to pursue long-term goals, even in the face of failure.
You see, throughout the entrepreneurial journey, your mental strength will be tested.
But what separates successful entrepreneurs from those who fail is their ability to use grit.
There’s even research to support this. 11,000 new cadets were surveyed to which trait was the most important to their success. The traits were:
- Physical strength
- Intelligence
- Grit
The study found grit to be the most common trait among the young cadets. This just goes to show how crucial it is to have grit.
Grit is when you have hope and optimism, even if you fail.
Grit is not when you blame others. Nor is it when you think people who are successful are simply “lucky.”
Grit is the belief that, if you get up and try again, you’ll be one step closer to success.
And that is what separates the 1% from the 99%.
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The Bottom Line
Your mindset is everything—especially when it comes to building an online business.
Not only can these four key traits help you succeed as an entrepreneur, but also give you that competitive advantage early in your journey.
Adopt these four traits, and it’s inevitable that you’ll achieve success.