Kurt Heiar, Associate Professor and Director of the University of Iowa Statewide Venture School Program, shares his insights from helping hundreds of entrepreneurs develop their dreams.
The Mindset an Entrepreneur Needs
1. How you view risk
Entrepreneurs evaluate, validate, embrace risk, and live on the edge of survival for part of their startup life.
2. How you view failure
Entrepreneurs think in terms of failing fast so they can learn from it and try again. For entrepreneurs, failing is a badge of courage.
3. Creating structure
Companies provide a structure for you (ex. values, how to interact, structuring your day, etc.). But as a company of one, you have to invent your own structures or your own values.
4. Solving problems
Entrepreneurs focus more on solving problems. They look at outcomes and create opportunities. They develop solutions better than what we have today.
5. Utilizing resources
Entrepreneurs don't think in terms of constraints. They assume that resources can be generated to fund great ideas – they just have to make that leap of faith.
6. Promoting Ideas
Entrepreneurs are self-promoting. They self promote themselves, their ideas, their work, and they invite other people in, they want other people to join the team.
How to Sustain Yourself as an Entrepreneur
Have a few advisors and industry experts around in whatever industry you’re in.
Identify the critical resources you've got to have.
Eliminate the biggest obstacles in front of you so you only have to focus on creating an opportunity with your idea.
Connect with peer groups to share the pain along the journey and bounce ideas off.