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Looking at the Real Picture
March 5, 2012
The Back of the Envelope Plan
June 18, 2016

The Three Mantras of Entrepreneurship – Part 1

Upon analyzing what the successful entrepreneurs say and do, I have observed a few common philosophies they operate with. These philosophies come out very early in the way entrepreneurs behave and the way they go about their daily lives. I have distilled these philosophies into 3 mantras.

 1.    A Winning Spirit
2.    Aim High, But be Prepared for the Worst
3.    There is No Shortcut to Success 

Mr Inderjit Singh – The Art and Science of Entrepreneurship

We will be looking deeper into each Mantra during the series.

Mantra No 1: A Winning Spirit

The spirit of winning is the most important spirit all entrepreneurs and business people should possess, and this is also something I have always strongly believed in, whether when I worked for a multinational company or when I started and operated my own companies, or for that matter when I used to lead my hockey team in school. Mr Inderjit Singh – The Art and Science of Entrepreneurship

1.1 Every Problem Can Be Solved

A “never say die” attitude means you keep trying until you feel you have solved the problem or have achieved the desired outcome, which is the outcome you are satisfied with.

All problems can be solved; the only difference is how the problem is solved. The solution may not be something that everyone expects but it would be far better than having an unsolved problem.

When faced with a problem, your ability to believe that it can be solved can make a lot of difference. If you walk in defeated or in doubt, you will never be able to find a solution. Whereas, if you are confident that you can solve the problems, it will help you overcome any problem you face. In other words, get your mindset right.

We read the war stories of entrepreneurs in awe of how they overcome such adversities to become great successes. Truth is they are like every human being, just that their mindsets are different. They have realized that no problem is unsolvable, just that its solutions may be unexpected. They are passionate about their objectives and want to see their ideas work, such that they will work day and night to clear any obstacles along the way.

We have to realize that no problem is unsolvable. Below are some tips to solve problems better.

  1. Know as much as possible about the subject matter.
    – The more knowledgeable you are on the business domain, the more solutions you will be able to come up with.
  2. Break problems down into smaller parts
    -One big problem may seem overwhelming. Break the issues down into smaller parts. It is easier to work on a few smaller issues, than to face a big one at one go.
  3. Talk to others
    -Look for other subject matter experts and bounce issues off them. They may have some experience and knowledge that may help you solve the problem better.
  4. Be positive
    -The solution may not be at the first door and it may take 10 doors to open. Do not allow yourself to give up so quickly, keep pushing further until you find the solution.

By allowing negative thoughts to creep in, you are already losing the battle before it begins. Instead you should look at problems with a positive mindset, thinking that it can be solved. This will help your mind generate better solutions.

Next week:
Art0007: Mantra No. 1 Part 2 – Decisiveness and Problem Solving

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