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The Importance of Mindset When it Comes to Doing Business.

This article is written by Nardine B. M’barek, a Contributor Author at Startup Istanbul.

Mrs. Aurore Belfarge is a tech entrepreneur who has worked with many startups and companies throughout her career, in which she acquired an important amount of experience and knowledge when it comes to doing business, and being an active member in the field of entrepreneurship. She joined us during Startup Istanbul 2015 and shared with us important aspects and events that she went through and experienced during her career as an entrepreneur.

Among these companies that she worked with; she mentioned and talked about ‘Wrapp’ as an example. ‘Wrapp’ is an application of which she became the co-founder in 2011. The idea and concept of this app were developed in 2010 by the whole app team, but exclusively by the gentleman who is now the CEO of the company. 

Mrs. Belfarge also shared with us how exactly this company and product were developed. She mentioned that they were once, a bunch of geeks who worked on this product, gathered with some coffee and junk food; they started to think about doing something that no one else has done before. The main concept of this application is that it gives you cashback rewards when you spend money in thousands of stores. No vouchers, no coupons, but rather real money that you can spend on whatever you like.

You just need to connect your payment card to Wrapp, which would allow, the app to learn how you spend your money. The more it learns the more relevant it can become. This way you will get rewards from brands you are actually going to be interested in. The question is how were they able to come up with an idea like this one?

This is where mindset becomes very important, and the most significant idea about mindset is that they labeled themselves as entrepreneurs, as people who have the ability to be creative and build businesses. It was mostly a mental decision that freed up their minds, as well as their ability to be creative, and gave them the mental capability of not only thinking of a new business idea that would be as successful as those already out there in the market, but also to actually make a business out of this idea, and make it work.  

That is a very important thing when you want to become an entrepreneur, you need to convince yourself that you can do it, that you have the sufficient amount of creativity and innovation in your mind that would definitely allow you to become as successful as you wish to be. If you fail, you ought to know that failure was never the opposite of success, but rather a very crucial part of it.

If you fail, then you learn, and when you learn, you become more successful and gain more self-confidence, and that is what really matters when being an entrepreneur, you need to take risks, and learn from it if you fail, which would allow you to become greater, and differentiate you from other entrepreneurs around the world. 

─ June 10, 2020