Rising Above the Limitations of the Salaried Worker Mindset
Not all business people possess the perspective, philosophy, and ambition required to work less while earning the same – or even more – money. An entrepreneurial spirit is essential, and this manifests differently in each individual.
The neophyte in the entrepreneurial hierarchy is essentially an entrepreneur still trapped in the body and mindset of an hourly wage employee. Conversely, the most advanced embodiment of entrepreneurship is that of an imaginative investor and creative explorer of all of life’s grand possibilities. Between these two extremes lies the bulging “middle class” of business owners.
The good news is that anyone can rise above mediocrity to achieve their full potential. In just four easy steps, anyone can be empowered to set higher goals and gain the ability to earn more money in less time.
Let us first examine the five basic levels of entrepreneurship:
- The Entrepreneurial Employee
These individuals prefer to work within a framework of familiarity and security. They are primarily interested in financial subsistence, as opposed to more profitable moneymaking ventures that might require experiences beyond their established comfort zone. While they make excellent and outstanding employees for a time, they eventually become bored and restless. Although they find the idea of striking out on their own attractive, they often fail. This is because they are risk-averse, conforming, and inclined to please others rather than acting for themselves or taking on dynamic leadership roles. - The Self-employed Entrepreneur
These are the do-it-yourself entrepreneurs who are glad to be freed from the authority of a boss. However, in many cases, they have so much drive for autonomy and self-reliance that they lack the skills for managerial team building, executive leadership, and administrative delegation. These shortcomings often lead them to work long hours alone, take complete responsibility for every detail of the business, and avoid learning new methods or accepting valuable help from others. - The Managerial Entrepreneur
These entrepreneurs focus on growing their organisations systematically, regardless of whether the growth makes good business sense. They often expand unnecessarily, ignoring bottom-line profits. As a result, they can mismanage small, flexible companies, turning them into cumbersome and encumbered entities by expanding bureaucracy and overheads excessively. - The Entrepreneurial Owner/Investor
These entrepreneurs are focused not just on creating businesses but also on marketing and selling them as owners and investors. They concentrate not on the sales of products and services, but on the sales of entire companies, often succeeding by franchising their businesses. They understand that business ownership is only one short phase of their strategy. Selling companies for profit is their primary focus, and they view their businesses as investment vehicles meant to be bought and sold, not held for life. - The Visionary Entrepreneur
The entrepreneur who ascends to the level of enjoying multiple passive-income profit centres can dedicate as much time as they wish to personal pursuits. Those in this tier typically view their work as a mission to turn dreams into reality. They devote themselves to bringing great ideas to life. With practically unlimited resources at their disposal, they are able to do things that others can barely imagine.
Each of us can identify where we fall within these five categories of entrepreneurship. We are also in an ideal position to advance higher up the ladder of entrepreneurial evolution. Achieving this requires just four simple steps. By following these steps, it is possible to work at least 10 fewer hours per week without sacrificing productivity or profits.
