What it means to be an entrepreneur (Plus, finding your passion and building an abundance mindset) [FS131]

What, exactly, does it mean to be an entrepreneur? And is this whole passion thing all it’s cracked up to be? Is it possible to shift from a mindset of scarcity to one of abundance? We tackle all of these questions and a few more on today’s episode of the show.

Today’s episode is fueled by real questions from real entrepreneurs struggling with what it means to build an independent business in today’s world.

We recently rebuilt the Fizzle community forums from the ground up. Topic tagging, popular topics, @ mentions, and a community calendar were all key additions in the new version (you can see for yourself with a free 5-week trial).

But the feature we’re most excited about is the new Question & Answer forum, where entrepreneurs can ask their pressing questions and then vote on the best answers, just like on Quora.

Since launching the Q&A forum, it’s been the hottest aspect of the community. More importantly, we get direct insight into the most important challenges independent business builders are dealing with.

We pulled five questions from the forums and answered them in depth on today’s show:

1. How do you shift your mindset away from the scarcity mindset?
2. Where does “passion” come from and why does it matter?
3. What do I do if I have NO lasting interests?
4. What does it mean to be an entrepreneur?
5. What advice do you have to stop obsessing over negative feedback?

If you’re up for an hour of existential fun and entrepreneurial contemplation, this is the perfect episode for you. Tune in…

(You know you should subscribe and listen to it on your podcast app on the go, right?) Enjoy!

The questions

1. How do you shift your mindset away from the scarcity mindset?

There’s a bit about snow globes in the 2nd half of episode 129. A Fizzler sells custom snow globes for like $999.

I nearly crashed my lawn tractor when I heard that.

“People pay a grand for a snow globe!?! What the fizzle! Who is that crazy? Who is crazy enough to charge that much?” (I didn’t say fizzle at the time.)

It took about 10 minutes for me to remember that not everyone lives in “my world”. Expensive means different things to different people. Things that are impossibly expensive for 1 person are pocket change for someone else.

…

Anyone have any tips for shifting your mindset away from the scarcity mindset? – Fizzler Josh R.

2. Where does “passion” come from and why does it matter?

I don’t get working for the passion of it, truly I don’t. Or the audience versus target market. I mean it all makes sense on the surface but it doesn’t match the patterns I have seen in business. I see business as having a social purpose of providing profits and salaries through the creation of value, and if what they sell isn’t valuable then woe betide them.

…

The new idea of being passionate about what you do and serving people is just not sinking in: I have always found companies (not people) that need services I do and done them well, so I could pay the bills and take care of the home fires. I live for weekends and spend them with my family. If I really cared about my work it would interfere with that.

Am I just way out in left field? Is the new model really all that works? Is there any hope for me? – Fizzle Steve F.

3. What do I do if I have NO lasting interests?

This is the end of week 2 of my “Try 5.” I’ve been in “Choosing a Topic” the whole time, but there seems to be a fatal flaw in the course:

It assumes there are at least a few things capable of holding my interest.

Sure, I can get wildly interested in topics. It happens a lot. But I can count on one hand with leftover fingers the number of times an idea has held my interest longer than three weeks, and not a single one of those has happened since I was 12 (and I have no lingering interest in the Ninja Turtles, the Power Rangers, or the minute details of the Colorado Avalanche roster). I get totally into something, learn as much as I care to learn by devouring an outrageous amount of information, and then, curiosity satisfied, have no more interest in it whatsoever.

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So what on earth do I do if I can’t generate a list of ideas from which to choose a topic? What if I really have no lasting interests? – Fizzler Lindsay W.

4. What does it mean to be an entrepreneur?

What does it mean to be an Entrepreneur?

There is a lot of talk about “how” to be an entrepreneur but not a lot on what exactly it means to be an entrepreneur. I would love to hear your thoughts and insights. – Fizzle Jonny K.

5. What advice do you have to stop obsessing over negative feedback?

Over the past year, I’ve received hundreds of positive emails and comments from my audience, thanking me for my content and newsletters. It’s really boosted my confidence and made my tiny online project a real source of satisfaction for me.

But a few days ago, one person unsubscribed from my list with the following complaint: “UNSUBSCRIBED: I sent an email with concrete questions a long time ago which was never answered. What’s the point of having a site about this topic without actually informing?”

…

Now I’m feeling all deflated and can’t stop thinking about this person for some reason. Logically, I know it’s impossible to please everyone all the time, but so far this is my first negative experience with a member of my audience, so the feelings are new to me. I don’t know whether to blame myself for letting her down, dismiss her criticism, or a bit of both.

I don’t want to let one drop poison the well, and it’s ridiculous I know given how trivial this is, but it feels like one negative experience outshadows 50 positive ones.

Why is that? Is this a common thing that most entrepreneurs encounter and learn to deal with? How can I focus on the overwhelmingly positive feedback? – Fizzler David L.

Show Notes

• Lifestyle Business Weekly in iTunes – this is Corbett’s new video show, which you can now also download as an audio podcast. Check it out, subscribe, and leave a review!
• How to Create a Vision for Your Life – this is the annual process Corbett follows to make sure he’s making decisions based on his values and building a life he’ll be proud of.
• 8 Pricing Strategies to Use on Your Product, Service, or Workshop – on episode 124 of The Fizzle Show, we chatted about a bunch of different pricing strategies you can use in your business, including value-based pricing
• Getting Started with Value-Based Pricing – A great primer from Sean McCabe and company over on SeanWes.com about value-based pricing.
• VideoFruit.com – Bryan Harris is an up-and-comer in the online business space who has quickly grown a following by putting in the work to build expertise up front.
• Queen of Snow Globes – Leah Andrews is the entrepreneur who sparked Josh’s near crash of his lawn mower when he realized how much she charges for her custom snow globers.