You have to be extra tough mentally to be an entrepreneur. While thinking about it, I realized that it’s really not that different from the toughness required and trained into America’s elite military force of Navy SEALs, who are known to be cool under fire, able to sense danger before it’s too late, and never give up on achieving their objective.
I just finished a new book “The Way of the SEAL,” co-authored by Mark Divine, who spent many years with the SEALs, and has since started and built six multimillion-dollar business ventures. He now teaches the key principles to business leaders through his Unbeatable Mind Academy, focusing on the following lessons and strategies, which I recommend for every entrepreneur:
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Lead from the front, so that others will want to work for you. To be an entrepreneur or a Navy SEAL, you must first have vision, focus, and the courage to step up to lead. That means visibly walking the talk and willing to clear a path for others. People want to follow leaders they can learn from, who demonstrate excellence and commitment in all they do.
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Focus on one thing until victory is achieved. SEALs call this front-sight focus, or the ability to envision your goal to the point that you see it, believe it, and make it happen. Every entrepreneur needs this kind of focus to build a minimum viable product, target the right customer segment, differentiate from competitors, and drive business growth.
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Think offense, all the time, to eradicate fear and indecisiveness. Indecision leads to doubt, then the two blend and become fear, which signals defense, resulting in being overrun in the business world, as well as the military world. Offense, for entrepreneurs, means leading with a new business model, new marketing, and new technology.
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Never be thrown off-guard by chaotic conditions. Smash the box and think outside the box. In the world of the entrepreneur and the SEAL, chaos is the norm, not the exception. Plan for it mentally and physically, and you will see opportunities rather than problems in the chaos. Winning is finding opportunities, rather than fighting problems.
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Access your intuition so you can make “hard right” decisions. Your intuition is really your knowledge and awareness of your business environment, which must be honed with practice and focus. This knowledge is required for you to turn quickly or pivot based on new input from the market, without loss of competitive position.
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Achieve twenty times more than you think you can. Set your targets high. Nobody knows what they are truly capable of, with the right discipline, drive, and determination (three Ds). SEALs challenge themselves to find their 20x factor, and entrepreneurs should accept no less of a challenge. Leverage the resources of mentors, investors, and peers.
By teaching and practicing the principles behind these six lessons, Mark Divine was able to improve the pass rate of Navy SEAL candidates from less than 30% to over 80%. I see the same potential for improving the success rate of new entrepreneurs from the current 10-year survival rate below 30%, to a new high target of 80% in this new era.
He suggests that you start with a self-assessment against the “five mountains” to be climbed on the path to self-mastery and success, with my adaptation for entrepreneurs:
- Physical: business as well as technical skills required for the domain you want to enter.
- Mental: ability to persevere, make decisions, focus, and visualize success.
- Emotional: resilience, open to relationships, keep negative emotions under control.
- Intuitional: level of awareness, listen more than speak, strong self-esteem, insightful.
- Spiritual: strong values, at peace, willing to make sacrifices, see the big picture.
I agree with Divine that if you desire serious change in your life, you can’t get there by focusing on what you don’t want. Becoming an entrepreneur is a great lifestyle, but it is a serious change from other career alternatives. If you decide to be an entrepreneur because you don’t want a boss, on don’t like regular business hours, you may be setting yourself up for failure.
