Ever wondered, why out of many only a few people become successful businessmen?How a small, vague idea is turned into a big, successful business?How a new product suddenly overtakes the business of the previous one?Certainly, it’s not luck! The science behind it is the business mind-set of the people.
Business Mind-set is a thinking process that sees every problem as an opportunity and turns those opportunities into a successful business.
If we observe, everything around us is developed from an idea which was picked and developed by a person who turned it into a great business project through his mind-set of developing a business. {Online shopping, E–commerce, YouTube are few examples of ideas that were grabbed as opportunities and then turned into successful business} A business could be big or small but a successful business empire can only be established through a set ofrules and principles which further assist in developing the mind-set of a businessman.
Are you a good strategist? – A Key element for Business Mind-Set
Being a business person, one needs to take vital decisions at every stage. Decisions taken, affect our today, tomorrow and future. A person with a business mind-set will always strategize and analyse all the situations positively. He will grab the opportunity and react on time. In fact, the business strategist has an important role in transforming a good business into a great business. We can say ‘A good strategist has a business mind-set’.
Role of a Role Model –Rules and Principles for Business Mind-set
Every successful person has his own success story, ruled by a set of principles, which he follows religiously. To be a successful businessman one should keep him equipped and upgraded by learning thetactics and strategies of the Role Model, whose ideology and success journey is an inspiration for him. Role models influence our actions, motivate us and uncover our potentials. Principles followed by them act as a guiding force and help in overcoming setbacks.
Numerous quality books are available to read about the journey, events, experiences and the principles followed by the big names of the business world. One book that is highly recommended is ‘Rich Dad Poor Dad’by Robert Kiyosaki and Sharon Lechter. This book breaks the common myth that one needs to earn high income to be rich and explains the difference between working for money and having your money work for you.
Four Quadrants of Business – The Mind-set of each Quadrant
To understand the mind-set of a businessman, one should first learn about the four quadrants of business. These quadrants are named ‘E, S, B, I.’
E – Employees
S- Self employed
B- Business owner
I – Investor
| E – Employee (Have a job) | B – Business Owner (Owns a system and people work for him) |
| S – Self Employed (Owns a job) | I – Investor (Money works for him) |
E – Stands for Employees who have a secured job. They work for others and get paid for the job on monthly basis. But it has its own limitations in terms of restricted growth, fear of losing job, and uncertainty towards future.
S – Standsfor Self-employed who are professionals like Doctors, Lawyers, CA etc. They work for themselves and get paid for their services. They earn and grow till the time they work.
B – Stands for Business.Business owners own a system where people work for them and help in flourishing the business.
I – Stands for Investors. An investor is an individual that puts money into a business for a financialreturn. There are many types of investors – some invest in start-ups, some invest in stock market, and some put their money into a business in exchange for part ownership in the company.
Going through these quadrants, one can easily understand the role, growth aspects, and limitations of people falling in each section. It gives us a clear understanding of business quadrant and the mind-set that is required for the same which indicates it to be a system driven business.
System Driven Business – Real Business
Can any organisation/business flourish based on one man army?
It’s always been a matter of debate, but looking into a deeper as well as a broader sense, one can evaluate that a real business certainly needs a system. A system driven business is where people are trained effectively, they know their exact roles,and they follow a process and continuously improve the programs and operations, eventually resulting in flourishingthe business.
Then, what is the Role of the Business Owner in his Business?
A prime aspect of business is to understand the role of the owner in his business. In system driven business, where work is accomplished by the trained people who are delegated the tasks, one might think then what does the owner do? In general, business owners are responsible for the growth, stability and direction of the business. Business owners do not get engaged in the day to day activities of managing the services; rather they play a strategic role and plan for the bigger picture. Business owners use their knowledge and authority in setting goals for the future of the business and in taking strategic decisions to reach the targets.
In conclusion, we can say that by making wise strategic decisions, based on evaluating, analysing and prioritizing tasks according to short and long-range planning one can develop a business. That can further be made a successful one by developing the system and delegating the tasks to the skilled team members. Anda person with such a business mindset can be a successful businessman!
