Mindset You Need to Have to Succeed as an Entrepreneur

About this video

Filmed while visiting his hometown in Wakayama Prefecture, Japan, Sean reflects on the simple, frugal life there and says he chases money not for material things but for freedom and options for himself and his parents. He then lays out the mindset he says entrepreneurs need. First, be frugal personally but not cheap in business: relying only on free YouTube information slows progress, while investing in a course or mentor shortcuts the learning curve and helps avoid costly mistakes. Second, be patient and give any business at least a year of consistent effort before judging it, rather than quitting after weeks or months due to shiny object syndrome — he uses Kindle publishing as an example, where one or two books not selling does not mean the model fails. Third, get a mastermind: a course Facebook group gave him fast answers compared to waiting days for YouTube comment replies, and a small mastermind he formed with peers at his level helped all of them grow, according to his account. Finally, he stresses consistent daily action over sporadic massive action, doing at least one thing each day to move the business forward.

Key takeaways

• Be frugal in personal spending but willing to invest in courses, mentors, and business education
• Give a business at least a year of consistent action before deciding it does not work; avoid shiny object syndrome
• Trying to learn everything free and alone slows progress and risks costly mistakes that a mentor or course can prevent
• Join a mastermind or course community for fast answers, and form a peer group at a similar level to exchange ideas daily
• Prioritize consistent daily action — at least one forward-moving task per day — over irregular bursts of massive action

Episode details: published October 25, 2018 · 11:33 long. Summary written by Self Growth Videos from the episode itself. Business results and any income figures mentioned are Sean Dollwet’s own claims, shared for education — they are not typical or guaranteed.

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