What are the five critical mindsets that every entrepreneur should master? originally appeared on Quora, the place to gain and share knowledge, empowering people to learn from others and better understand the world.

Being successful as an entrepreneur is all about establishing the right mindset. I’ve said it before and I’ll say it again, mindset matters! There are five critical mindsets that every entrepreneur must master in order to thrive. They are:

A Resilience-Centered Mindset. It is going to be challenging when you launch your own business, and you’ll be making a lot of decisions by yourself. Some will work and others won’t. You must be able to bounce back quickly when they don’t and keep moving forward despite the setbacks.

A Patience-Based Mindset. It will take a lot longer than you think to make your company successful and to become profitable. Be prepared to put in a lot of hard work for a long time before you see any sort of payoff. You’ll get there eventually.

A Productivy-Focused Mindset. It’s all about time management when it comes to entrepreneurship. You have to take control of your schedule and focus on the most critical tasks for the long-term success of your business. As such, you must be smart with your time and limit distractions.

A Balanced-Based Mindset. Entrepreneurs can easily become overwhelmed and burn out. That’s why it is vital to ensure that you have balance in your life and are taking care of yourself physically, mentally, and emotionally.

An Innovation-Centered Mindset. As a business owner, you will continue to adapt to rapidly changing conditions. Therefore, you will constantly need to come up with creative new ways to pivot and adjust in order to solidify the longevity of your startup.

This question originally appeared on Quora.

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