Every serial entrepreneur has a formula for success in business. If you’re on your first venture, you might not have one yet. But since we are all about efficiency here, I’ll share the formula I discovered through my own experiences as well as those of the founders I’ve worked with so that you can start your new venture with the right mindset.

Why mindset? You might have been taught that strategy is the only thing that matters when it comes to entrepreneurship. However, my formula for success is 80% psychology and only 20% strategy. Most leaders focus on developing and implementing the right strategies, which is important.…