Tips on Being a Successful Entrepreneur

As an entrepreneur and business enthusiast, I'm always fascinated by stories of innovation and unconventional thinking. The journey of Linda Weinman, who founded Linda.com (now LinkedIn Learning), is a perfect example of how embracing unconventional mindsets can lead to extraordinary success in the business world.

Linda's story begins in 1995 when she, a graphic design teacher and aspiring entrepreneur, acquired the domain linda.com. Initially intended as a sandbox for exploring new digital graphic design tools and showcasing student work, the website evolved into something much more significant. By 2002, Linda recognized the potential for online education and transformed her business model accordingly. This pivot ultimately led to the company's acquisition by LinkedIn for a staggering $1.5 billion.

What makes Linda's story so compelling is how it exemplifies the six counter-conventional mindsets of successful entrepreneurs, as outlined by John Mullins. These mindsets challenge traditional business practices taught in many business schools and implemented by large corporations. Let's explore these mindsets:

1. "Yes We Can": This mindset encourages entrepreneurs to embrace new opportunities, even if they lie outside their core competencies. It's about being adaptable and willing to learn new skills to meet customer needs.

2. Problem First, Not Product First: Successful entrepreneurs focus on solving problems rather than pushing products. This approach leads to more meaningful innovations that address real customer pain points.

3. Think Narrow, Not Broad: Contrary to the big company wisdom of targeting large markets, many successful entrepreneurs start by focusing on narrow, specific target markets. This allows for better problem-solving and product development.

4. Asking for the Cash and Riding the Float: Entrepreneurs understand that cash is the lifeblood of their ventures. They often find creative ways to secure funding and manage cash flow, such as pre-selling products or services.

5. Beg, Borrow, but Don't Steal: This mindset encourages entrepreneurs to be resourceful and find creative ways to acquire necessary assets without heavy upfront investments.

6. Get on With It: Successful entrepreneurs often act first and ask for permission later, especially when regulations are ambiguous or haven't caught up with technological advancements.

These mindsets challenge conventional business wisdom and provide a framework for innovative thinking and problem-solving. They encourage entrepreneurs to be adaptable, customer-focused, and resourceful in their approach to building and growing businesses.

As we reflect on these mindsets, it's worth considering how we can apply them to our own professional lives and business ventures. Which of these mindsets do we already embody? Which can we learn and develop? How can we use them to overcome challenges and drive innovation in our own spheres of influence?

By embracing these counter-conventional mindsets, we open ourselves up to new possibilities and ways of thinking that can lead to breakthrough success, just as they did for Linda Weinman and countless other entrepreneurs who have changed the world through their innovative approaches to business.