How Can You Develop A Business-Capable Mindset?

What is the “business mindset?” Are people born with it? Well, it’s true that some may be more naturally entrepreneurial than others, but that doesn’t always mean they’re going to be an international success. In fact, some of the most naturally gifted business individuals aren’t running Fortune 500 companies, they might be selling cars or running their own jam company or simply focused on their other love, like the arts.

The truth is that business thinking is a skill you can learn like anything else, because there’s a set approach to good common sense which naturally helps you develop more organic thinking beyond those boundaries. 

If you have a special business opportunity that you’re excited about, but you’ve never really been so focused on developing these skills, you may wonder how naturally predisposed you are to use them. We’d suggest you don’t worry about that, and instead focus on the basic utilities that will help push you forward. In this post, we hope to help with that in mind:

Learn The Basic Parlance

You’re going to hear terms thrown around in meetings, contracts, and conversations that might seem like another language at first, especially if you hire a specialist or outsource. You might hear terms like “scalability,” “market positioning,” or “onboarding” – all of which are quite simple.

Thankfully, AI tools and online resources are there and you don’t have to apologise for getting up to speed. You can start by learning the basics that apply directly to your situation, so if you’re dealing with suppliers, understand terms like “net 30” or “bulk pricing” before you go in to net a better discount.

Understand Where Your Value Lies & Protect It

Ultimately, if you don’t have unique value, you don’t really have a business. That’s why the best thing a businessperson can do is question themselves. Ask yourself then – what problem are you solving? Why would someone choose you over the competition?

Good business planning is often focused on protecting those good ideas, which often means trademarking your name, curating methods for keeping your customers happy so they stick around and tell others about you, or hiring people who believe in the business and have skills to offer. They say the best defence is a good offense, and in business, that means being so clear-headed about your goals you move forward with confidence.

Consider The Administrative Tasks

Admin work isn’t the most exciting element of anyone’s day of course, but it keeps everything ticking over and you could do worse than having a healthy interest in every element, even if you outsource or used software to help you. For instance, you laways have invoices to track, taxes to file, and legal requirements to stay on top of. You need to know how to use a VAT number UK, how to write a contract for anyone you outsource remotely, and find a good accountant or financial manager to keep on top of your outgoings.

So, set aside time each week to handle these responsibilities properly, and get a system going for your paperwork that works for your workflow. It will help you nestle into your own routine which is the most important of all.