Entrepreneurial Mindset (Part 2 of 3)

Entrepreneurial activities require both sacrifice and risk-taking. Foremost in the mind of the business person will be the question of how much he is willing to sacrifice and the amount of risk-taking both now and in the future? Another relevant consideration is subject of time. Every business requires tons of it to be applied into each part and phase of the venture.

Counting the Cost 
Sitting down to count the cost in all that we do is important. There must be a plan, benchmarks and budget for resources needed. These will act as a spearhead for one's efforts to succeed and will certainly also reveal the hard truth if the venture has come short.

'For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, saying, 'This fellow began to build and was not able to finish.' (Luke 14:29,30)

Counting the cost is a sign of confidence in one’s ability and in making the right choice of investment. In succeeding, we get wiser and not wilder. On the other hand, it is in no way a marker for lack of faith. It acts as a safeguard against falling into a bottomless pit. When the hard truth surfaces and the business position becomes irredeemable it allows for a wise and conscious decision to cut losses.

The country singer, Kenny Rogers, in his song “The Gambler” summed it up well in this part of the song, “You got to know when to hold ‘em, know when to fold ‘em, Know when to walk away and know when to run.”

Contending with Contentment
What if the business take-off? And there is great potential for it to be scaled up either digitally or physically. How much/many is enough?

Contentment will be the rear-guard that will protect the businessman from losing his balance and succumb to stress and ill-health in the business’ jungle. The ‘contentment is great gain’ principle can be put to work in light of the many priorities the businessman has to handle. This will counter greed which is a bane to all who for the sake of profits forget what is more important to him.

'But godliness with contentment is great gain.' (1 Tim 6:6)

A growing business is a hard taskmaster. It gobbles more money for expansion. The danger of over-gearing creeps in. It guzzles more of your time. Family is relegated to the background and health matters take a backseat. He must keep his perspective and watch if the business has taken a life of its own and the master has become the slave. Putting these together, contentment is inversely proportional to the cost in time resources to the business person. Contentment will be the businessman’s conscience. Don’t start a business without it!

Part 1 
Part 3