Why All Employees Need an Entrepreneurial Mindset (May 2020)

If you've kept your job during the shutdown, you're one of the lucky ones. Competition will be tougher for finding a job and keeping one. So what do you do now to embrace change and be an asset to your company?

Our next guest says you gotta think like an entrepreneur now more than ever. Beth Ridley is a leadership expert and workplace culture consultant. She brings out the best in people. We love her. Good morning to you, Beth.

Hi, Beth.

Hi. Good morning, ladies.

Thanks for joining us today. Let's talk about this. An entrepreneurial mindset is something that's going to be very important as the workplace picks back up and businesses get back to usual or a new normal. So what does it mean to have an entrepreneurial mindset?

Yeah. So I think entrepreneurs have a lot of skills that they use, but there are two that I think are particularly helpful for employees in workplaces to keep in mind at work to be more impactful, like you said. So the first one is to basically act like an owner. So entrepreneurs are owners. And so really that means that you're fully invested in the outcomes of the company. You really show up at work with a I get to attitude versus I have to attitude. And, you know, you're interested in the bigger picture, not just doing your specific job or task at hand really well. And then I think the second thing that makes an entrepreneurial mindset is that you have courage to be able to try new things, take risks, learn from mistakes, and be able to move forward quickly.

I think that is such a great point, especially the part about taking risks. And I think that is so difficult for people, especially if you've always been an employee and punched a clock and been working for somebody rather than running your own business.

Yeah, totally. And in these really ambiguous times of change and uncertainty, the truth is senior leaders, they don't have all the answers. And so they're looking for people who can be part of the solution and not just sit around and wait to be told what to do do. So being able to take some risks and put yourself out there is going to help you do that?

I think it's so important.

Yeah.

Let's talk about the skills. Why you think they're more valued in the workplace today and in the future? Maybe more so than ever before. Mm.

Well, I think, you know, before pandemic, you know, workplaces were experiencing a lot of rapid change anyway. Right. So there was always, like, new technology to be able to embrace. Probably as an employee, you've had multiple job changes over your career, so you really have to sort of like, learn on the fly. So all of those things are even more compounded in this environment as companies are looking ahead. Quite frankly, we just don't really know what the future holds. But sometimes in this change and ambiguity, there's also opportunity to discover new things, maybe new products or services or new ways to drive revenue. But, you know, if you have that entrepreneurial mindset again, you're not sitting back and waiting to be told what to do. You're sort of leaning in and using this uncertainty as an opportunity to help to problem solve and find solutions that maybe ultimately could be better for the company.

It's so true. It's been exciting, I think, to see the creativity that's gone into what businesses are doing right now. As a consumer, it's been sort of fun to witness that change. But what about managers? How can they help foster this entrepreneurial spirit or thinking in their employees?

Yeah. So I like to tell managers, if you want your employees to act like an owner, you have to treat them like an owner. And sometimes that means being very open, honest and transparent about what's going on with the business. And don't hide the truth in reality or maybe even how bad things are from employees. So if you really want them to be part of the solution, you have to give them full and complete information. I think the other thing that managers can do to help employees act like owner is to not micromanage them. Right. We've all been sort of micromanaged, and that can be really demoralizing and you don't want to try. So, you know, one thing managers can do is be very clear up front, sort of what the expectations are, and then let employees run. They may surprise you in terms of ways that they go about doing something or solutions that they come up with. That doesn't mean not support them along the way, Certainly give them feedback and support along the way, but not micromanaging. And then one other thing that I would suggest is really important is for leaders to model making mistakes, getting back up, dusting off your shoulder, and moving forward for employees. So if employees see their leaders and their bosses and their managers do that, that sort of sets the tone for the rest of the organization that mistakes are okay. We just need to learn from them and go forward.

I like that. I love that perspective. So what can employees do to demonstrate this entrepreneurial mindset when they're at work?

Yeah, So a couple of things. One, again, that act like an owner mindset. It really comes from your own intrinsic motivation and really feeling like your job is connected to a higher sense of purpose and meaning. So to help demonstrate that, really tap into your why. Just remind yourself why your job matters to you. What about your job or the people at your work really inspire you. What gets you up in the morning? How are you learning and growing? That is going to be your own intrinsic motivation to kind of lean into the challenges and the hard times and develop some confidence, I think, moving forward. And then the second thing is around building that courage to try new things, make mistakes. And that really all comes down to not viewing mistakes as failures, but as learning opportunities. And I have, like, I call it a fail forward checklist to help people reframe how they think about making mistakes so that they can move forward with a little bit more courage with trying new things.

That is fantastic. This is such a good topic right now. Beth, thank you so much.

Thanks, Beth.

Thank you, ladies.

All right, to learn more about Beth Ridley the Brinful Life, and to find a link to that free entrepreneurial mindset kit that she mentioned, all you have to do is Visit our website, TheMorningBlend.com.