The Financial Times Lexicon defines an entrepreneurial mindset as “a specific state
of mind which orientates human conduct towards entrepreneurial activities and outcomes”. It continues: “individuals with entrepreneurial mindsets are often drawn to opportunities, innovation and new value creation.”

From my experience working with and studying entrepreneurs I can agree with this wholeheartedly. Entrepreneurs by their very nature think creatively, are opportunity focused and are constantly on the look-out for new ideas and projects. These are wonderful characteristics when starting out in business.

So what are the challenges for entrepreneurs?

Ideas flow, ways to improve and innovate are plentiful, creation of routes to market is easy. Where entrepreneurs often struggle is when staying power and long-term strategy for growth are required.

How will they focus on the detail needed to ensure sustainability of the business, through the recruitment of strong team members or plans for sales & marketing, ensuring customer expectations are met?

If investment is required, how will he or she persuade investors they can stay on board as long as is needed and not be distracted by other ideas and projects or simply lose interest?

This is where I would recommend bringing in a coach to work with the entrepreneur or business creator so that clear goals can be agreed upon and a strategy can be put in place to ensure the entrepreneur has the mindset and techniques he needs to maintain focus.

How can coaching help entrepreneurs?

Often entrepreneurs believe they are not “a details person”. With careful questioning and exploration, often this belief can be challenged, and the entrepreneur will find that they can identify ways of analysing details, particularly if they are clear on the benefit to them and their business.

By taking the time to work with a coach, creative and innovative thoughts and ideas can be harnessed and channelled in a way that is positive for the business. Ways of working effectively can be adopted to ensure projects are delivered successfully and on time.

Entrepreneurs are not always team players, and can have a tendency to resist taking on board suggestions from, for example, financial advisors or accountants. A coach can work alongside the entrepreneur to look at ways of making these relationships work so that the business can benefit and grow.

In short, coaching allows the entrepreneur to stop for a moment and gather their thoughts, focus on what they want, how they’re going to do it, and whom they need alongside them to deliver. Coaching enables them to adopt good communication styles and a healthy work life balance, so that they can enjoy what they do and continue doing it successfully.

Are you an entrepreneur who has achieved business success? How do you manage to maintain focus and create the right work environment? We’d love to hear about what works for you.