The 4 M's of Successful Entrepreneurs

What does it take for a creative entrepreneur to succeed?

What separates the artists and musicians who never get their ideas off the ground from the self-made icons who create global brands, perennial best-sellers, and have a lasting impact on their market - and society as a whole?

This is a question that the team here at Parsons Entrepreneur Academy have studied obsessively…

And the insight that has emerged… is that there are some key “factors” that nearly ALL successful entrepreneurs have in common.

Let’s call them… 

The 4 M’s of Entrepreneurial Success:

1 - Mindset

2 - Mentorship

3 - Methodology

4 - The Mastermind Effect

Now, to be clear, these 4 factors are the things that allow a talented, creative genius like yourself to make it in BUSINESS.

You wouldn’t be here, reading this, if you didn’t already have something incredible to add to the world… You’re already a talented and innovative artist, photographer, videographer, fashion designer, musician, or writer.

Our job here at Parsons Entrepreneur Academy is to help you leverage the creativity and leadership skills you already have - and create a “machine” that helps you to share your work with people who will love and appreciate it…

...and create a reliable, self-sustaining income as a result.

So these 4 keys are the icing we want to spread over the cake you’ve been baking all your life up until this point, to set you on a path to long-term success.

#1 - MINDSET 

Now, this might seem cheesy, or cliche… but it’s the truth.

Your Mindset is the foundation of EVERYTHING.

The Scarcity Mindset 

If you’re operating within a scarcity mindset, you make limiting decisions. You come from a place of FEAR, putting all your focus on the potential downsides instead of possibilities.

So you cut corners and look for ways to minimize expenses, which leads to compromising quality and under-delivering to your customers rather than maximizing the VALUE that you can create for others.

The Abundance Mindset 

Developing an abundant, growth-oriented, value-driven mindset goes hand in hand with creating a business and a brand that people trust implicitly and come back to again and again.

This is why we’re putting a huge emphasis on helping you develop your entrepreneurial mindset within the Parsons Entrepreneur Academy Network with our “Weekly Mantras.”

These are confidence-building, mind-expanding, success concepts that we post in the member’s area weekly - where you can discuss them in-depth with your fellow creative entrepreneurs.

Each one is an opportunity to check in and get real with yourself about how you might be sabotaging your own progress with limiting beliefs, and an opportunity to help others overcome their own limiting beliefs, so that we can all grow, learn, and experience results together.

#2 - MENTORSHIP

When you look at the entrepreneurs who’ve been able to build successful businesses, the common thread for 99% of them is that they had a mentor when they started out.

Guidance and the outside experience of others allows you to skip the trial, error, doubt, and confusion, and implement strategies and tactics in your business that are likely to succeed. 

That’s why one of the primary features of The Parsons Entrepreneur Academy Network is regular “office hours” with our instructors and guest speakers.  

In these office hours, you get to submit specific questions about your current challenges or ideas for your business, and get detailed, thoughtful answers from people who’ve been where you are, and made it to the other side.

#3 - METHODOLOGY 

Just because the tools and knowledge are available, it doesn't mean it's easy to "connect the dots." 

You see, the biggest mistake people make when they're trying to get their business off the ground is expecting their strategy to WORK the first time around.

They take their setbacks personally, as reflections of their abilities, or the quality of their product or ideas…

And they give up.

But what you have to realize, is that instead of letting setbacks or disappointing results discourage you… You need to view your entrepreneurial journey objectively - as a scientist would.

Learn from Your Successes and Failures 

Success or failure in a particular campaign or promotion are just data points you take into account in your future strategies to help you formulate a new hypothesis.

You make a new plan, you test it, you gather more data, and you IMPROVE your method... Rinse and repeat.

This is how you build a successful business in any market.

Each month, we’re bringing in guest speakers to the Parsons Entrepreneur Academy Network to talk about their business success and the methodology that allowed them to achieve it.

These interviews are guaranteed to be jam-packed with gems of business building wisdom, and any one of them could hold the key to unlocking your personal path to success.

And they’re 100% free to access for members of The Parsons Entrepreneur Academy Network.

Now, we’ve covered mindset, mentorship, and methodology… all crucial principles for setting yourself on a path to entrepreneurial rockstardom…

...but the 4th M is perhaps the most powerful of them all:

#4 - THE MASTERMIND EFFECT

Simply put, a “mastermind” group is a collective of two or more like-minded people who are working toward goals that are parallel to your own. When the group pools their collective knowledge, expertise, and resources, each member of the group can overcome their obstacles and achieve success in their personal ventures.

The mastermind effect is the real-life application of the principle, “the whole is greater than the sum of its parts,” and it’s one of the “secret weapons” that have allowed the world’s most successful entrepreneurs to create legacies that span generations.

Plus, just by the very nature of connecting with others, talking about your goals, and coming up with a way to achieve them, you’re more likely to hold yourself accountable to the people who are investing their time and energy in your success and actually take ACTION to move the needle in your business.

All in all, the mastermind effect is a “time machine” that can shave YEARS of trial and error off of your entrepreneurial journey…

Seriously - if you’re serious about building a thriving business around your passion, having a network of minds to collaborate and problem-solve with is one of the most powerful ways to make it happen.

>>> Go here to join The Parsons Entrepreneur Academy Network 100% Free

We hope to see you on the inside!

Before you go! Don't forget to download your free copy of The 4 M's of Successful Entrepreneurs: 

Download your free copy of The 4 M's of Successful Entrepreneurs

Meet the author:

Addison Rice is songwriter, producer, digital marketing strategist, direct-response copywriter, and entrepreneur. He lives nomadically in a converted school bus with his wife/bandmate, Jahnavi - travelling the country and making music while he helps musicians and creative entrepreneurs build businesses around their art. 

You can find out more about Addison and his various projects at AddisonRice.com and listen to his band, The Love Sprockets, and check out their bus life at TheLoveSprockets.com.  Or, simply, follow him on instagram @hurricane.addison. 

The Parsons Entrepreneur Academy--Powered by the Parsons School of Design--is an online platform dedicated to helping creative professionals learn and master the business side of their professions. We provide community, mentoring and courses created for and by people in the creative fields.  Sign-up for our emails and learn how to turn your art into a business.

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