7 Key Ideas
about the Entrepreneurial
These 7 Key Ideas will quickly help you to appreciate that anyone can gain benefits from thinking and acting like an entrepreneur. Whoever you are, and wherever you live, the mindset will help you to to keep motivated, to cope with all the challenges of the modern world and to achieve your life goals.
1 There is a common sense definition of the mindset
Many people use the phrase “entrepreneurial mindset” but it is often used in a vague or ill-defined way. The Entrepreneurial Mindset Network has created an easy to understand, common sense and practical definition of the entrepreneurial mindset based on 7 essential entrepreneurial behaviours. This definition is relevant to individuals, organisations and society, to every culture and country.
2 The mindset is not only for entrepreneurs
You don't have to be running your own business to gain the benefits of the entrepreneurial mindset. You can learn to think and act like an entrepreneur if you are an employee in the private, public or not-for-profit sectors. You can use the mindset to create cultural, economic, environmental and social value. You can use the entrepreneurial mindset to make your unique contribution to the world.
3 Anyone can learn to develop the mindset
Entrepreneurs enjoy success in life because of their behaviours ie the way they think and act. It is not the case that only some people are born with the right mindset. Anyone can learn to mimic these entrepreneurial behaviours and use them to achieve their own career & life goals. The mindset is inclusive and celebrates diversity as a catalyst for innovation.
4 The mindset brings real benefits
People from all over the world tell us that there are many benefits to having an entrepreneurial mindset including: a clearer sense of purpose, more creative ideas, an ability to speak up & challenge the status quo, a greater appetite for calculated risk taking, stronger networking & collaboration, higher levels of job satisfaction and an improved work/life balance.
5 The mindset is a 'must have' not 'a nice to have'
An entrepreneurial mindset is essential nowadays if you want to be able to cope with a world that is increasingly complex and uncertain. The right mindset will enable you to stay confident, to see opportunities and to overcome challenges. With the mindset you ask yourself “how can I make this happen?” Without the mindset, life can feel overwhelming and it is easy to lose your sense of control.
6 We need to be aware of the hype and be realistic
There are many stories of successful entrepreneurs in the media. That success does not come easily. The truth is that entrepreneurs face many difficult financial challenges and mental health pressures. Therefore, the entrepreneurial mindset isn’t just wishful thinking. It means being prepared to put the hard work in and being resilient during the difficult times in your entrepreneurial journey.
7 The mindset can help you change the world
Entrepreneurs choose to take personal responsibility for making change happen. Like an entrepreneur, you say to yourself "I think this change is important - how am I going to make it happen?" Each of us can make our contribution. An entrepreneurial mindset empowers you to take action about the things you really care about. The right mindset can help you change the world.
The Network has created an easy to understand, common sense and practical definition of the entrepreneurial mindset, made up of 7 essential entrepreneurial behaviours. As an aid to memory and learning, one essential entrepreneurial behaviour is allocated to each of the letters in the word MINDSET.
Meet real needs
Entrepreneurs are successful because they provide a product or service that people really want or need. You can learn from their success, and copy this entrepreneurial behaviour, by asking yourself "Do I meet a real need?"
Entrepreneurs innovate. They use creativity to find new solutions to problems. They seek out different perspectives and a wide range of views. Innovation is a process that can be learned. Like an entrepreneur you need to innovate.
Never act unethically
In some cultures, entrepreneurs are seen as successful innovators. In others, they are viewed negatively as people who exploit others for their own gain. Our definition of the mindset rejects unethical behaviour.
Dare to take risks
What could be more characteristic of entrepreneurs than risk taking? You need to know how to take calculated risks because this will put new opportunities within your reach. And if things go wrong, you will learn from failure.
Entrepreneurs convince us to buy products and services. They also persuade us that change is necessary. You too can pitch ideas and convince people to collaborate. Working together we can scale up and make a bigger impact.
Exercise for productivity
How do you get everything done within the time available? Greater productivity doesn't just happen; you have to work at it, like going to the gym to get fit. You need to strive for a good work/life balance.
Take the initiative
The entrepreneurial mindset is not just a way thinking. Above all it is about taking action, turning ideas into reality.You don't wait, you take the initiative, and you act first. You are determined to live your best life
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