Book review: The Entrepreneur Mind by Kevin D Johnson

Sakera Patel S

Like your 9-5 job? The Entrepreneur Mind by Kevin d Johnson is coming your way to save you and convince you to become a successful entrepreneur. If you are already an entrepreneur, then you know success doesn’t come easy. It takes hard work, sacrifice, and perseverance to get to the top of your field, and that’s just the beginning.

The Entrepreneur Mind by Kevin D. Johnson is a compendium of research, studies, and anecdotes on what it takes to be successful as an entrepreneur and in business as a whole. It’s filled with important lessons you can use to make your next business venture or career move more successful than your last.

The book is divided into 7 chapters and has 100 guidelines on what defines an elite entrepreneur. Let’s take it to chapter wise and let me tell you the lessons from the book that I personally liked.

Chapter 1: Strategy

1. To maximize your potential, you must THINK BIG. It is known that entrepreneurs can’t think big, because their environment limits them or they lack expertise or motivation.

2. Want no competition? Create a whole new market. Those operating without competition earns loads of profit.

3. If you want to get time for growth, then work ON your business instead of working in it. The best way to do that is by hiring people in your business.

4 What’s a business without risks? No business! But calculated risks and informed choices decrease those risks.

5. If you seem to lack a sense of stressful urgency, you need to ask yourself why? In the end, if u sense no enthusiasm, then that’s not a good sign.

6. Your path to achieve your goal will be easy if you are less dependent on people. You can do this by, optimizing your systems. Always remember- asking for help doesn’t make you look weak. Failure shows up when you start to believe in the myth, ‘self-made people

8. You cannot escape failure in business, but how you deal with that failure determines if you are a top dog or not.

9. PRIOTORIZE the important tasks by increasing your motivation and focus.

10. Hire a good lawyer because they will help you pick out a legal entity, protect your intellectual property, and makes sure that your interests are secured.

11. Think about it: Business plans are overrated. Study your competition, interact with the customers and form a prototype.

12. You know what’s a toxic business culture? It’s where everyone has to agree with you. It can’t always be like that. The people who criticize your ideas must be on your team.

13. Dismiss your worst customers as they can drain you and your resources.

14. Sure, Times have changed. But most people, who toil day-in and day-out, day after day -still resent those who make money from doing nothing. And the best part is that now there are so many clever ways of making money while doing nothing!

15. Outsource the non-core functions at the best price and quality.

16. If an idea isn’t working, it’s a bad idea. It is advisable to move on quickly from a bad business idea, rather than hoping it works. 

17. Don’t let a bad economy hold you back. Let it motivate you to accomplish your goals.

Education:

What you learn in school doesn’t come in handy if you want to become an entrepreneur. It’s all trial and error and observation and practicing are what will help you in becoming an entrepreneur.

People:

1. Spending time with smart people can help you learn a lot. So, don’t let your fear, ego insecurity get in the way.

2. Think about it: It’s not the office space that is going to bring in the profits, but it’s a good team.

3. Be humble and smart, you don’t necessarily have to know everything.

4. Be odd and the path of success will be clear. It won’t matter when you are successful because people will no longer pay attention to how odd you are. Everyone will be busy trying to be friends with you.

5. Draining relationships can wreck your business, which is why it is important to choose your spouse wisely. Marry someone who is an asset to you.

Finance:

  1. Done get thrilled if u receive a check. When receiving cash in hand or when the funds are verified, then and only then does it means something. 
  2. Borrow money from a bank before you need it because you never know when a storm is going to hit.
  3. Hiring a professional accountant is worth every penny because, at the end of the day, they will save a lot of time and money.
  4. If you don’t have a decent business model and plan, your investors are only throwing money into the gutter. 
  5. To maintain a good cash flow, it is necessary for your customer to trust you and prepay you for your products and services.
  6. If you are waiting for money to come in to start a business, you will keep waiting for your entire life. You have got something, so start your business with that.

Marketing and Sales:

  1. Being an entrepreneur means that you are in sales; whether you like it or not. Want to be a winner? Focus on customer needs and sales.
  2. Repeat after me: Customer is your boss! If you think that you are the boss and you can’t get fired, then you have got it all wrong.
  3. Before meeting with the investors, it is a must to study them beforehand. Based on that, put forward the right person for representing the business.
  4. When doing a business, you have to spread the word about your business. 
  5. Generally, CEOs are shown as patronizing. But remember, do not follow that image. Apart from doing the business, your job is also to treat your customers and other people respectfully. 
  6. Don’t hold grudges especially when some investors or customers turn you down. Who knows, in the future, they might be of precious value to you?

Leadership:

  1. A secret to a rising entrepreneur is that they act in spite of what they feel. Don’t let your emotions miss a potential opportunity. 
  2. Don’t suppress the rebellious side of you. Let it do the things others wouldn’t dare to.
  3. Let your goals drive you even in moments of uncertainty.
  4. Prepare yourself for the worst: Be prepared to lose it all
  5. You have to have an unimaginable amount of endurance because that’s what it takes to be successful.

Motivation:

  1. The goal is to provide value to the customers. That should be the meaning of success to you. 
  2. An entrepreneur who feels depressed at the thought of Mondays is not a serious entrepreneur.
  3. On the other hand, an entrepreneur who dreads when Fridays are near is a serial entrepreneur.
  4. Remind yourself every day: A 9-5 Job is the worst thing that can happen to you. 
  5. Your parents may beg you to get a real job, but be patient with them. 
  6. It’s okay to cry now and then when things don’t go your way. I mean..Steve Jobs did, and so it’s ok!

Why you should also read this book?

This book is for anyone and everyone who aspires to become a successful entrepreneur. It is a guide that is divided into 7 chapters and again subdivided into smaller chunks that make salient points worthy of consideration. This is by far the most interesting book I’ve read so far. In the book, I liked how Kevin has shared his knowledge in a very relaxed tone, which is very easy to grasp.

The Entrepreneur Mind is the type of book that can be read in any way that a reader prefers, for example by going through it front to back, starting in one particular area of interest, or going in random order. It is this notion, at least in part, that makes the book as helpful as it is intriguing: Every little fragment is a nugget of insight with a clear lesson about entrepreneurship as a whole. The author of this book organized it in a way that mimics the mind of an entrepreneur. This book should be enjoyable to those wanting to start their own business as well as those who are already in the middle of running a business.

Convinced to read the book?

Buy ‘The Entrepreneur Mind’ from https://theentrepreneurmind.com/.

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