Though entrepreneurs share similar aspirations, mainly starting a business, not everyone pursues entrepreneurship the same way. Some entrepreneurs may wish to stay small and start a micro business. Others may wish to start a scalable startup for rapid growth and expansion. However, today we will discuss one form of entrepreneurship: hustler entrepreneurship.
In this article, we will define hustler entrepreneurship, as well as examine its various characteristics.
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What is hustler entrepreneurship?
Hustler entrepreneurship is a type of entrepreneurship that involves a determined entrepreneur who is driven by ambition and is willing to put in extended time and effort to achieve their aspirations. Typically, hustler entrepreneurs start small and work toward growing a bigger business, usually with as little investment as possible. They essentially do whatever it takes (legally) for their business to be successful.
Example of hustler entrepreneurship
Examples of hustler entrepreneurship can be found in various industries and within successful entrepreneurs who embody a strong work ethic and lasting determination. Salespeople best embody this trait as they are willing to make countless cold calls, as well as go door-to-door among other methods to bring awareness to their product and ultimately close sales.
A real-world example of hustler entrepreneurship is Gary Vaynerchuk, also known as GaryVee. Vaynerchuk is a Belarusian-American entrepreneur and motivational speaker who has become an internet personality and has stressed the importance of hustle. Despite owning multiple successful businesses, Vaynerchuk still pursues numerous side hustles, emphasizing the importance of hard work and dedication in achieving success.
Hustler mindset
The term “hustler” used in this context displays a persisting sense of drive and ambition that motivates the entrepreneur to stop at almost nothing for success. The hustler mindset involves a set of beliefs and attitudes that relentlessly pursue one’s goals, no matter the setbacks and roadblocks that may get in their way.
Think of successful athletes who constantly sacrifice their bodies and endure countless workouts to optimize their performance. They embody hustle by persevering through endless training and maintaining a strong work ethic so that they are prepared for games and events. Hustle is a key component of the entrepreneurial mindset.
Why is hustler entrepreneurship important?
Hustler entrepreneurship is important because it can motivate aspiring entrepreneurs to push past their limits, set goals, and put in the necessary time and effort to achieve them. It rejects laziness and comfort and instead inspires ambition and an eagerness to succeed. Hustler entrepreneurship means making every moment count and seizing every opportunity.
Characteristics of a hustler entrepreneur
Ambition
Ambition is defined as the strong desire to do or achieve something, which will typically require hard work and determination. It empowers an entrepreneur with the ability to set and realize their goals. By setting goals, entrepreneurs can keep track of their success and convert their dreams into reality. The act of starting a business is one of the most ambitious undertakings one can perform.
Ambitious hustler entrepreneurs are typically visionaries who go beyond what is perceived as ordinary and strive for something greater. They are committed to continuous learning not only to improve their business but also themselves. Successful entrepreneurs don’t wait for opportunities to come to them. Instead, they go out and make things happen themselves.
Perseverance
In the relentless pursuit of one’s goals, perseverance is almost a necessity. Perseverance is the persistence in doing something despite challenges or difficulties that may occur. This is exemplified by serial entrepreneur Steve Jobs, who after being fired from Apple following a dispute among the board of directors was able to persevere. He was able to start numerous successful business ventures, such as Pixar, and was eventually able to return to Apple, where he soon rolled out the iPhone and other innovations.
Resourcefulness
Hustler entrepreneurs can use the cards that are dealt to them. Essentially, they can utilize what resources they are given and maximize their ability. As we mentioned before, hustler entrepreneurs wish to grow a business with as little investment as possible. Thus, they find alternative methods of growing their business, such as low-cost marketing strategies and SEO.
Entrepreneurs must be resourceful in finding solutions to problems. They need to make the most of their available resources and create unique and innovative solutions to succeed. Additionally, resourcefulness is necessary in times of hardship to adapt and pivot.
Strong work ethic
Hustle is characterized by a strong work ethic. This means putting in long hours, going the extra mile, and staying consistent in the pursuit of one’s goals. A strong work ethic should be the core of an entrepreneur’s attitude and can be cultivated through good habits. An entrepreneur with a strong work ethic can consistently produce high-quality performance that furthers the growth of the business venture.
With a strong work ethic must also come discipline. Discipline is one of the most important qualities for any form of growth. It helps us train our mind and body to prioritize only what is important as well as regulate our emotions. In turn, we can focus on our goals and avoid distractions that would prevent us from reaching them.
Determination
Approximately half of small businesses are on their way out within 5 years. This can be attributed to numerous factors, such as poor management or planning. However, a problem will persist among these failed business ventures: a lack of determination. Entrepreneurs who led these businesses often lacked the determination to strive for the business’s success and failed to stay strong in times of turmoil. They may have had the motivation to keep them going at first, but after setbacks hit them, they quickly gave up.
Determination is key to long-term success. It consists of an unwavering drive to see a project to completion, despite what the journey may entail. Determination means learning from mistakes and moving on, reminding yourself of your goals, and persisting despite what others say.
Preparedness
Being prepared is a continuous learning process that begins at the business’s inception and only ends once a business ceases. Preparedness comes from extensive research, a commitment to continuous learning, and proper planning. Entrepreneurs must be prepared for market changes, new laws, scaling, and more to succeed.
Related: Checklist for Entrepreneurs: Starting a Business the Right Way
Remember to listen to your mind and body, and not overwork yourself as to avoid burnout. Entrepreneurs sometimes get so caught up in their business that they forget to take care of themselves. It is important to find a suitable work-life balance that will allow you to pursue your goals while also maintaining your well-being.
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