How Critical Thinking Helped Me To Grow Millions?
The best job in the world isn’t in becoming a financial advisor, lawyer or even a medical doctor. The best job is in being your own boss.
And the good thing about being an entrepreneur is that you are not constrained by the degree you obtained in school, your age, influence, etc.
But too many people are unaware of that fact.
The thing I enjoy the most about being an entrepreneur is the sense of freedom and creativity it gives me. I get to create things out of nothing and watch them develop into something big.
I wouldn’t trade it for anything else.
That being said, starting your own business and turning it into a profitable venture isn’t easy by any stretch; even an internet-based business.
It took me very many sleepless nights, unflinching dedication, hard work and a couple of disappointing moments.
All these while, one thing that has contributed to my success the most is critical thinking.
I developed an optimistic mindset
You need to equip yourself with a core set of abilities, but developing an optimistic mindset is perhaps the key to unlocking your path as a successful entrepreneur.
According to a 2016 study by the University of Oklahoma, during tumultuous economic times, entrepreneurs relied more on optimism than market data, and it concluded that “collective entrepreneurial optimism is more important in predicting startups and growth”.
What this means is that intuition can be just as effective a strategy in business, even up to 90% of the time.
One of my most favorite books of all-time is Think and Grow Rich by Napoleon Hills. The first chapter of the book basically taught me the importance of self-belief as a nitty-gritty to having a successful business.
Of course, experience does play a role in helping businesses grow, but as a new entrepreneur, you learn to teach yourself the basic skills and believe that your ‘gut feeling’ can be the right decision.
The Harvard Business School report on entrepreneurs’ behavior versus non-entrepreneurs better buttresses my point. Now, the analysts compared an equally motivated team of business founders and non-founders and measured them on a scale of 11 skill sets.
The result showed that the major differences between entrepreneurs and non-entrepreneurs lied not in their skills, but in attitudes.
And it makes a ton of sense.
As an entrepreneur, I have had to create my own vision and learned to come to terms with uncertainty.
As I take all the risks, funded my own new ideas, and all I focus my energy on keeping myself motivated.
I devised a method to solve problems
Nothing good comes easy is an understatement, and you’d find that out if you decide to become an entrepreneur.
If you are just starting out, chances are, you will have to handle most or all of the work yourself. From admin to inbound marketing, you learn to wear many hats.
In fact, the first couple of steps you take as a new entrepreneur will likely bother around solving problems and believe me, there is no shortage of it.
The truth is that problems come in different forms, so there is no ‘almighty formula’ to make them go away.
In fact, scientists say that you need to experience problems to boost your entrepreneurial thinking, and they tell us how to scale through. Or try learning it from Jack Canfield on how to keep churning it even during the most difficult times.
1. Define your purpose
You have probably asked yourself this question many times, whether consciously or unconsciously.
This is where you ask yourself what your end goal is.
In my case, I believed that growing my business would equate more money, and so my big question was about how to scale my business.
Remember, I earlier said that you will be on your own when you are just starting a business, and so you have to learn to do things yourself?
Well, it begins here.
Unless you are extremely lucky, no one is going to come to you with tips on how to better your business, but thankfully, everything you need is out there.
All you have to do is find them.
I joined a network of like-minded entrepreneurs to grow my network. Luckily, i met persons who had crossed the obstacle i was battling with.
3. Form a hypothesis
You need a working theory that will help tackle your business problem.
The thing with hypothesis, though, is that you are not always certain that it’s going to be the silver bullet you’ve been looking for, which is where the next step comes in.
Since you are not so sure about your theory, try it out, but with more than one variable.
In marketing, it is called splitting test or A/B test.
All you have to do is show your prospects different variants of what you are trying to sell, and see which ones drive more conversions.
I use this method when I want to try out web fonts and landing pages.
5. Analyze your results and decide
After your experiment, all that is left is to look at the figures to see which method to adopt.
It’s a no brainer.
I learned to allow myself time to think
I used to beat myself any time I was falling short of creative ideas, until i found this study by MIT.
According to them, entrepreneurs do think differently from other people, and while this might take more time, it also makes them come up with more creative and logical ideas.
Think about it:
It can’t be a coincidence that both Microsoft and Facebook were founded in January, a time when students had a lot of free time on their hands, and it corresponds to Harvard’s conviction that free time births innovations.
In my experience, most of my illustrious ideas came only after I disconnected from everything else, and zoned off in thoughts.
Critical thinking means analyzing your agenda and thought-process, and of others as well.
It has been directly or indirectly responsible for my success as an entrepreneur so far.
If you were to take away all of the tools that I have in business, sales, and marketing, but leave me with just one thing, without hesitation I will choose the ability to think.
The art of creating wealth is an intellectual sport, so at the end of the day, it doesn’t necessarily matter how smart you are or the tools at your disposal, but the ability to think critically.
Roberto Garvin –
I am Roberto, co-founder of Mofluid. It is absolutely amazing to see how technology continues to evolve, from email to browsers, search engines, mobile, AI and now blockchain. I am fortunate to witness it all. Really excited to see what’s next.
Twitter – @mofluid
Facebook – @mofluid