Before diving into entrepreneurship, there’s one crucial question you need to ask yourself: Are you really built for this? Are you an entrepreneur, or are you a “wantrepreneur” – someone who loves the idea of it but can’t handle the grit that comes with the game?

Here are my 5 Rules of Entrepreneurship, the mindset you need to succeed. Feel free to scroll to the end and watch Power Athlete Radio Episode 776 to see me present  my 5 Rules to Ben Crookston.

1. Embrace Creativity

At its core, entrepreneurship is about solving problems. And guess what? That takes creativity. Entrepreneurs don’t just follow the crowd; they look at challenges from a different angle and carve out solutions that others can’t see. Don’t wait for a “lightbulb moment” though, creativity is a muscle you build, not something you’re born with. Flex it by constantly experimenting, brainstorming, and surrounding yourself with people who challenge you to think bigger and better. Push your limits. And don’t fear failure, it’s your greatest mentor.

So, ask yourself: What problem am I trying to solve? Because that’s where creativity starts.

2. Build Scar Tissue

Here’s the hard truth: entrepreneurship is brutal, and setbacks are inevitable. It’s not a matter of if you’ll hit roadblocks; it’s when. What separates the winners from the rest? They don’t wallow, they bounce back faster, tougher. You need to develop mental toughness and resilience, or as I like to call it, “scar tissue.” Every failure is feedback, and every setback is a stepping stone. Get fit, mentally and physically, and get used to doing hard things. Look in the mirror every day and ask yourself: Am I ready for the fight?

Business isn’t for the faint of heart. The ones who survive are the ones who take the punches and keep moving forward.

3. Don’t Fear Risk

Being an entrepreneur means risk is always on the table. But let’s get this straight: not fearing risk doesn’t mean being reckless. Risk is part of the deal, and the moment you stop feeling a little scared is the moment you stop growing. Here’s the kicker though, you’ve got to embrace the fear and move forward anyway. That’s courage. Courage isn’t the absence of fear; it’s pushing through, taking risks, and trusting that your vision is worth it. The key is to take calculated risks, think things through, make smart decisions, and adjust when needed. Mistakes will happen, but the faster you learn, the quicker you can adapt and keep charging ahead.

4. Adapt or Die

In the world of business, the one constant is change. Markets shift, customer needs evolve, and if you’re not adapting, you’re getting left behind. Being flexible isn’t about flakiness, it’s about survival. Whether it’s adjusting your product, your strategy, or even your skillset, adaptability is what keeps you in the game. Keep your ears open to feedback, and don’t let your ego keep you stuck in a bad direction. Pivot when you need to, and do it without hesitation.

5. Have Clear Vision

Vision is your North Star. Without it, you’re wandering aimlessly. You need to know where you’re going, set those big, long-term goals, and then break them down into smaller, actionable steps. How do you eat an elephant? One bite at a time. But here’s the kicker: vision alone isn’t enough. You’ve got to stay flexible enough to pivot when things don’t go according to plan. Vision keeps you focused, but adaptability ensures you don’t fall off track when the road gets bumpy. The real power lies in execution. Bring others on board with that vision, and make them a part of your journey.

These five rules are your blueprint for cultivating the entrepreneurial mindset. It’s not about fads or shortcuts; it’s about grit, creativity, and the ability to adapt. Entrepreneurship isn’t for everyone, but if you’re up for the challenge, these principles will help you navigate the chaos and seize the opportunities that lead to success.

Now, ask yourself again: Are you cut out for this?

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