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  • Writer's pictureL3 Global Ventures

Three Challenges for Entrepreneurial Thinking

Build a solid entrepreneurial mindset with these unconventional but helpful challenges.

Challenges are a different kind of social media treasure trove. The attractive social concept of starting a new habit, sharing your progress, and complete repetition until the habit sticks could leave an impact on drive and inspiration. And while experts warn against the possibility of elaborate expectations and pushing oneself towards the edge, it creates a largely favorable verdict regarding the mental side.

But can the same concept be applied not just for building positive habits or core strengths but for more substantial change? Do challenges help develop a certain mindset and skills to succeed as an entrepreneur?

Entrepreneur Noah Kagan thinks so. The startup veteran and founder of AppSumo recently argued in his blog that straightforward but enjoyable challenges could help prepare future entrepreneurs for what it takes to run a successful business.

The Coffee Challenge

This type of challenge entails asking for a small discount on your cup of coffee and seeing what happens. You can attempt to commit to this challenge every day for a week, but remember to be considerate towards already-harried employees when communicating with them.

According to Kagan, asking for 10% off the coffee can help you learn something surprising about yourself. Asking for a discount can be both difficult and empowering, surprisingly.

The benefit behind this challenge is proving to yourself that despite social anxiety and fear of rejection, you'll still be alright at the end of the day.

The Ask Challenge

No one starts a business by themselves. Everyone has someone to lean onto throughout the process, whether that person is an outside expert or a trusted advisor. According to Kagan, it's best to get comfortable asking for help right from the beginning. Hence, the "Ask Challenge."

Kagan writes: "If you have a Twitter, Instagram, TikTok, or Facebook account, post something right now that you need help with. Ideally, you haven't posted about it before, and you may be uncomfortable posting about it. That's where the good stuff lives."

Kagan also notes how many entrepreneurs are scared to ask for help.

He claims that people are always willing to help you but don't know how to unless you ask.

The Feedback Challenge

While overcoming fear of rejection and learning to ask for help are keys to entrepreneurial success, so is personal growth. If you want your business to succeed in the long run, you need to become a better version of yourself in developing it. And the best way to do that is to ask for feedback.

Kagan suggests finding someone you interact with daily to provide some challenging feedback and encourage you to improve.

The input may not always be good, but "it's always a gift." If you find the experience helpful, you can even try asking three or five people for feedback.

According to research, as time goes by, shifting one's personality is possible. The ultimate secret to that is action. Simply wishing you were a person who possessed the qualities and skills required to start a business won't make it happen. Instead, place yourself in situations that demand those qualities. As you stock up on relevant experiences, the more your personality changes for the better. Therefore, Kagan's suggested challenges are an excellent approach to preparing for an entrepreneur career.

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