Entrepreneurial Mindset & Opportunity Characteristics of an Entrepreneurial Mindset

Mindset its Characteristics and Essentials 1. Curiosity - Being curious is really shared among successful entrepreneurs. Curiosity
leads to questions, and questions lead to answers. This trait strengthens the ability,
A mindset is a belief that qualities like intelligence and talent are fixed or changeable traits. being humble and open-minded lead to greater knowledge, and greater knowledge
The word mindset was coined by Carol Dweck in her book "Mindset". She found out that allows more detailed reflection.
successful people have different mindsets which are a fixed versus growth mindset. In 2. Commitment - This is continuing to keep going and persist amidst problem. The
reality, there are numerous mindsets, but fixed and growth mindsets are her important focus should be on achievements, because it would motivate the entrepreneur to
discoveries for people living in today's fast changing and very complex world. persevere as he moves forward and continues to harvest good outcomes.
3. Optimism - Tough attitude towards challenges makes up successful entrepreneurs.
Difference between Fixed and Growth
Every time a situation happens, the entrepreneur should be hopeful in exploring its
People with a fixed mindset perceive that their talents and abilities are set. They Consider many learning opportunities.
their brains and talents are sufficient to become successful and endure life on becoming 4. Flexibility - Entrepreneurship is a challenging field with its unpredicted demands
smart. They personally take positive criticisms of their capabilities. They always want to and continuous problems. It helps to be supple to deal with a series of difficult
avoid challenge, and failure tell themselves they do not have expertise. People with a fixed situations, solve problems easily and make progress from obstacles.
mindset believe that these qualities are inborn, fixed, and unchangeable. 5. Ownership - Successful entrepreneurs always trust that their success comes from
their own ability. It has always been their attitude to be responsible for the things
People with a growth mindset trusts that traits can be changed, developed and that they do.
strengthened by working on them. These people are certain that their abilities could be 6. Leadership - A successful entrepreneur always guides, motivates and empowers his
developed by commitment, determination and obviously hard work. For them, brains and team. It is usual for him to share his vision with his team to inspire these people. He
talent are simply the starting point of the lifelong success of everyone. People with growth is able to create his own vision by constantly being the model of his team.
mindset see failure as an opportunity to enhance their performance and take mistakes as 7. Connection - In entrepreneurship creating a network is very important.
lessons. Entrepreneurs must choose those people that would form his collective links So that
he could breed his idea. There should be both emotional and financial bonds.
8. . Self-respect - In business, it is also vital to take care of both the body, mind and
spirit. Taking care of oneself daily through rest, exercise and diet is essential.

Essentials of the Entrepreneurial Mindset

Passion first - Real entrepreneurs look for what really are important to them, what they
truly wanted to, and then bring together their business around those things. The best way to
ha involved and continue doing business during difficult times is to have a sense of meaning
and purpose.

Everything is possible - This mindset is about believing that entrepreneurs are capable of
accomplishing unexpected results. They trust that an idea could be possible to turn into
reality.
100% accountable - Entrepreneurs always believe that they have the power to choose their
responses to any circumstance because they have this 100% Accountable mindset.

We are connected - Entrepreneurs believe they can achieve their dreams not by being alone
though they love to be independent. They wanted to lead by helping other people to do
their tasks and fulfill their dreams without seeking anything in return.

Live life to give - Most people now especially businesspeople wanted to offer their time and
resources for a valuable cause. As people in business profit more, they tend to give more.
Attitude of gratefulness - This mindset provides the recognition of all positives in every
experience and thankful for these. Even in problematic situations entrepreneur recognized
as opportunities to learn and grow, they are

The time is now - This mindset for entrepreneurs refers to recognizing that their powers
exist in the moment. Entrepreneurs believe that they cannot change history and the future
is uncertain. Entrepreneurs take give their best effort and make their adjustments of their
action as still gratefulness about these situations.

ENTREPRENEURSHIP AS A HABIT
ALERTNESS, PRIOR KNOWLEDGE AND PATTERN RECOGNITION
Alertness refers to the ability to easily pinpoint opportunities in the environment.

Prior Knowlegde the information gathered from the combined life and work experience

Pattern Recognition refers to identifying relationships between seemingly isolated things or

occasions. This recognition happens when people make connections of dots to pinpoint and
create opportunities.

FROM IDEA GENERATION TO OPPORTUNITY RECOGNITION

In order for an idea to be feasible, it must be fresh or inimitable or at least a twist from an
existing concept that will be acceptable and adaptable in the market. The concept should be
something of value to consumers, because it is a need, a desire, useful and has the capacity
to earn profit.

FROM IDEA GENERATION TO OPPORTUNITY RECOGNITION

IDEATE Method is an ideation process empirically proven to help building entrepreneurs
recognize problems, cultivate innovative solutions, and choose the best creative
entrepreneurial idea.