• New Wave Accountants

3 Ways to Control Your Mindset as an Entrepreneur

When you’re in charge of a small business, it’s easy to get overwhelmed by the sheer amount of details you’ll need to take care of in just about every process. It’s exhilarating to get the ball rolling on your novel idea, but it’s discouraging when things don’t turn out as you expect. While you can offload frustrating tasks like crunching numbers to a business accountant, controlling your mindset will make these problems less challenging since you’ll focus on the actions you can do, like hiring a professional to take care of tedious responsibilities.

Changing your mindset is an invaluable tool that you can use to improve your well-being and outlook. Your perspective shapes your actions, relationships, and your beliefs. Your thoughts dictate your actions, which means you can create the reality you want simply by aligning your beliefs to it. Since many entrepreneurs work alone, carving new paths, how you approach things will determine your business’s success. Here are three tips to help you govern your mindset as an entrepreneur:

1. Celebrate Mistakes

It’s hard to find the value in success without knowing what it’s like to fail. Making mistakes is part of running a business, especially if it’s your first time. Instead of crucifying yourself for making a mistake, telling yourself you should have known better, honour yourself by celebrating your mistakes and imperfections. It’s a great way to solidify your self-worth without relying on external sources and connect with others, making your business look more relatable.

While many people view vulnerability as a weakness, it is a strength, especially when you know how to use it. You’ll become more curious, open, sympathetic, and innovative, which will help you stoke the fire of your business, find joy in what you do and look for long-term solutions to support your success.

2. Find Your Purpose

When you’re frustrated by how things are going with your business, it’s a slippery slope to feeling hopeless and discouraged. However, finding your purpose and using that as your guiding light will help you stay on the right track, as you’ll always go back to the reason you started your business.

Identifying your purpose will require you to determine your goals, motivations, values, and needs. There’s much more to a small business than making money, as they’re typically built on unparalleled passion and hope. When you combine this with hope, you’ll have the motivation and courage you need to keep going, even when the waters are rough. You’ll grow along the way, which is crucial for providing healthier, more concrete answers to the problems that you’ll face.

3. Accept What You Can’t Control

Lastly, and arguably the most challenging tip to practice, is to accept what is outside of your control. Most sources of stress stem from circumstances that you cannot change no matter how hard you try. Instead of allowing these to affect you, opt for a performance mindset, which encourages you to focus on what you can control, such as your reaction and action.

Doing this helps you remember that you’re a human being and that people, your employees, support your business to benefit others. When you tap into this connection, you’ll demonstrate an empathy that will establish deep human relationships with your target audience, making them more likely to purchase from you. You’ll also get the perspective and strength needed to weather the many storms that businesses typically face.


Your mind is powerful, and you can unlock its potential when you learn to master your thoughts, which govern your actions and emotions. By following these three tips, the challenges you’ll encounter will be more solvable.

New Wave Accounting is a Gold Coast accounting firm providing end-to-end accounting and bookkeeping services that help scale and grow businesses. Book a free strategy session today with one of our advisors!

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