Author: Colton Helms
There are key differences between the business owner mentality and the employee mentality. Some people are unhappy in their current jobs, and would like to start a business. So my advice to them is that if they are unhappy, and feel that they have the mentality to start a business, then give it a try. People often fail on their first few attempts to start a business, so they will be able to discover if they are truly fit to run a business. Part of being a successful business owner is running with an idea when you think it is good. Do not sit around and wait for success to materialize, but instead make things happen. The most successful people are confident that they will succeed regardless of all obstacles.
When it comes to the working world, there are two very different types of mentalities: that of the business owner, and that of the employee. People tend to fall into one of these two categories, and complete their work accordingly. Both attitudes have their pros and cons. One with the employee mentality, for example, often puts himself before his work. What this means is that he will leave as soon as his shift ends because he is no longer obligated to be there. In contrast, one with the business owner mentality may stay after work for 30 minutes to clean up and prepare for the next day. The business owner often takes a lot of pride and satisfaction in the work he completes, so he will put the work above all if it is important enough. This difference makes a huge difference when it comes to business interactions and motivation.
Naturally, there are many reasons to take on one of the two mentalities. The employee has benefits such as set, regular hours, a steady wage, and security. However, he has little room for growth and may remain at the same income level for many years. The business owner has benefits such as large salary potential, the ability to make his own hours, and extra job satisfaction. On the contrary, he has to deal with the risk factor of running a business. About half of all new businesses fail within their first five years. Therefore, starting a business is a huge investment of not only money, but time as well. In addition, to get a small business off of the ground, one may have to work 50 hours or more every week. We can see that even though running a business has many benefits, it is only for those who have a true business mentality and will do anything to see their company succeed.
Many employers want their employees to taker great pride in the work they do, so they offer incentives and recognition to keep employees motivated. @CLOmedia posted on Twitter, saying "Does employee recognition pay off? Better believe it." and posted an article displaying statistics and ideas regarding employee recognition. In the article from clomedia.com, it states that companies that excel at employee recognition are 12 times more likely to generate strong business results. In addition, the article gives ideas for how to motivate employees, such as strong leadership, clear goals and recognition criteria, and rewarding employees' values and good work. Another article posted by @SmartBrief talks about good reasons to fire an employee. It includes personal reasons such as not performing well, not being motivated, not growing with the company, and not being honest or kind to others. In addition, it states a very common, although not personal, reason to fire employees: when businesses are losing money. This is an unfortunate yet all too common reason for people to be fired.
Author: Colton Helms, Georgetown University, Washington D.C.