There has been a rapid rise globally in the number of people who have stepped away from employment and set out on their entrepreneurial journey. Roger James Hamilton explores the entrepreneurial mindset.
In the US the number of new business applications has doubled over the past decade. In the UK new businesses increased by 14%, even in an economic downturn.
There’s an argument that says the pandemic has pushed more people into starting their own business as they were forced to work from home or made redundant. However, becoming an entrepreneur is more than just a little side-hustle – even if that has been the starting point for many people.
It’s not a secret that there’s a high failure rate for new businesses. The figures report that around 60% of new businesses don’t make it past year three. And that’s down to how a new business owner thinks and, subsequently, the strategy they follow.
Think like an entrepreneur
The first step to an entrepreneur’s mindset is to identify and understand your strengths, your passions, personal barriers, and what you really want to do to achieve long-term contentment and financial freedom. To be a successful entrepreneur, the first step is to discover your inner genius, that spark, that will ignite the passion for success. Profiling tools will help you with this. They will give you invaluable information to start work on your business plan.
Entrepreneurial thinking combines the practical with the creative. While it’s essential to think about finance, marketing and individual responsibilities, true entrepreneurial thinking includes a vision of what the future looks like and how that can be achieved.
Entrepreneurs have flexible thinking and are open to collaboration and innovation. They have a vision, but they are ready to adapt and adjust to the circumstances in which they find themselves. The businesses that diversified and thrived through the pandemic are a testament to that. Social entrepreneurship has evolved to promote social change, alongside financial achievement.
Life-long learning elevates the outcomes
One of the defining factors of an entrepreneur is a thirst for knowledge. An entrepreneur is always learning. There is a saying ‘Stop learning; stop earning’ and for an entrepreneur that goes double.
In Society 5.0 technology plays a huge part in delivering learning, and with the emerging metaverse, EdTech has generated virtually unlimited opportunities to access knowledge.
E-learning has enabled entrepreneurs to join global communities and access people, ideas, best practices and learning worldwide. This has united people with that entrepreneurial gene and allowed them to realise their true potential.
However, technology isn’t the only source of learning, entrepreneurs also learn from the people around them, their competitors, their customers and expert coaches and mentors. Even here, technology has provided easier access to people who can guide and advise that would previously have been incredibly difficult.
An entrepreneur has an open mind and is eager to fill it with the knowledge that will have a positive impact on their route to success. The global community has created the massive potential to change our world through the creative thinking, knowledge bank, and shared learning of entrepreneurs.
About the Author
Roger James Hamilton is a New York Times bestselling author and Founder and CEO of Genius Group (NYSEAM: GNS), a multi-million dollar group of companies, headquartered in Singapore, which currently includes companies such as GeniusU, Entrepreneurs Institute, Entrepreneur Resorts, Education Angels, E-Squared Education, Property Investors Network and the University of Antelope Valley., Genius Group has an acquisition plan to add in further acquisitions in 2022 to the Group. GeniusU is an Edtech company and platform providing over 4 million students and users with personalised learning paths and a platform used by partners to share their learning through customized learning journeys. GeniusU attracts 7,500 new students to join GeniusU each week, starting with the entrepreneur quiz to identify their path to wealth and find their next step to take right now. Genius Education Angels and E-Squared Education provide education courses for young people from 0 to 25 years old. Entrepreneurs Institute, Property Investors Network and the University of Antelope Valley provide adult training courses for 25 to 100 years old, and Entrepreneur Resorts is a market-leading group of entrepreneur-focused luxury resorts and lodges, beach clubs and city co-working hubs, offering business leaders professional educational retreats in exotic destinations around the world. Entrepreneur Resorts holds destinations in Singapore, Bali and South Africa and soon the U.S., and has license holders launching properties in the UK, U.S. and Greece. Entrepreneur Resorts will be expanding this year by adding on further properties and license holders. Roger is also the creator of Wealth Dynamics, Talent Dynamics and Impact Dynamics profiling tools, used by millions of entrepreneurs to find and follow their flow.
About Genius Group
Genius Group is a world leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has over 2.9 million students in 200 countries, ranging from ages 0 to 100. The group includes four pre-IPO companies (the “Pre-IPO Group”), and four companies that were acquired at the time of or shortly after the IPO (the “IPO Acquisitions”).
The entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally mainly via the Pre-IPO Group’s AI-powered, personalized GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills.
The Pre-IPO Group includes Genius Group, GeniusU, Entrepreneurs Institute and Entrepreneur Resorts. This group of entrepreneur education companies has grown through organic growth and acquisitions, with a focus on adding value to each company through GeniusU, which is being developed to provide AI-driven personal recommendations and guidance for each student. The Pre-IPO Group is now expanding its education system to age groups beyond its current adult audience, to children and young adults. The four IPO Acquisitions are the first step towards this. They include: Education Angels, which provides early learning in New Zealand for children from 0-5 years old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides vocational certifications and university degrees in California, USA; and Property Investors Network, which provides property investment courses and events in England, UK, and Revealed Films Inc., which launches docu-series covering topics such as wealth building, health and nutrition, medical issues, religion, and political matters in Utah, USA.
Genius Group’s plan is to combine the education programs of the IPO Acquisitions with its current education programs and Edtech platform as part of one lifelong learning system, and it has selected these acquisitions because they already share aspects of the Genius curriculum and its focus on entrepreneur education.
