Activating An Entrepreneurial Mindset PDF

Activating an
Entrepreneurial
Mindset
Lecturer: Ms. Kate Andrea L. Cawaling
What motivated
you to start a
business?
What is Mindset?
the established set of attitudes held by someone
What Kind of Mindset Do You Have?
In a fixed mindset, people perceive their talents and abilities as set
traits. They believe that brains and talent alone are enough for
success, and they go through life with the goal of looking smart all
the time.
Fixed mindset: the assumptions held by people who perceive their

talents and abilities as set traits.
In a growth mindset, people believe that their abilities can be
developed through dedication, effort, and hard work. They think
brains and talent are not the key to lifelong success, but merely
the starting point.
Growth mindset: the assumptions held by people who believe

that their abilities can be developed through dedication, effort, and
hard work.
John Mark
FIXED MINDSET: “Why do you want to start up a business? You need
accounting skills. You were always terrible at math at school. Are you
sure you can do it?”
GROWTH MINDSET: “I might not be any good at accounting at first, but
I think I can learn to be good at it if I commit to it and put in the time
and effort.”
FIXED MINDSET: “If you fail, people will laugh at you.”

GROWTH MINDSET: “Give me the name of one successful person who
never experienced failure at one time or another.”
Entrepreneurial Mindset
is the ability to quickly sense opportunities, take action, and get
organized under uncertain conditions.
This also includes the ability to persevere, accept and learn from
failure, and get comfortable with a high level of discomfort!
Cognitive strategies are the techniques people use to solve
problems, such as reasoning, analyzing, experimenting, and so forth.
The entrepreneurial mindset employs various cognitive strategies:

- to identify opportunities
- consider alternatives
- take action.
Metacognition
our ability to understand and be aware of how we think and the
processes we use to think.
For example, say you are reading through a complex legal

document; you might notice that you don’t understand some of it.
You might go back and re-read it, pause to think it through, note
the elements that don’t make sense to you, and then either come
back to it later or find a way to clarify the parts you don’t
understand.
Passion and
Entrepreneurship
Passion
an intense positive emotion, which is usually related to
entrepreneurs who are engaged in meaningful ventures, or tasks and
activities, and which has the effect of motivating and stimulating
entrepreneurs to overcome obstacles and remain focused on their
goals.
Entrepreneurship as a Habit
A habit is a sometimes unconscious pattern of behavior that is
carried out often and regularly.
Good habits can be learned through a “habit loop”—a process by

which our brain decides whether or not a certain behavior should
be stored and repeated. If we feel rewarded for our behavior, then
we are more likely to continue doing it.
Self-Leadership Habit
a process whereby people can influence and control their own
behavior, actions, and thinking to achieve the self-direction and
self-motivation necessary to build their entrepreneurial business
ventures.
It consists of three main strategies:
1. behavior- focused strategies
2. natural reward strategies
3. constructive thought pattern strategies.
Behavior-Focused Strategies
- methods to increase self-awareness and manage behaviors,
particularly when dealing with necessary but unpleasant tasks.
These strategies include self-observation, self–goal setting,
self-reward, self-punishment, and self-cueing.
Elements of Self-Leadership
A. Self-observation: a process that raises our awareness of how,
when, and why we behave the way we do in certain circumstances.
B. Self–goal setting: the process of setting individual goals for
ourselves.
C. Self-reward: a process that involves compensating ourselves when
we achieve our goals. These rewards can be tangible or intangible.
D. Self-punishment (or self-correcting feedback): a process that
allows us to examine our mistakes before making a conscious effort
not to repeat them.
E. Self-cueing: the process of prompting that acts as a reminder of
desired goals and keeps your attention on what you are trying to
achieve.
Natural Reward Strategies
types of compensation designed to make aspects of a task or
activity more enjoyable by building in certain features or by
reshaping perceptions to focus on the most positive aspects of the
task and the value it holds.
Constructive Thought Patterns
models to help us to form positive and productive ways of
thinking that can benefit our performance.
Creativity Habit
the capacity to produce new ideas, insights, inventions, products, or
artistic objects that are considered to be unique, useful, and of value to
others.
Left-Versus Right-Brain Orientation
Improvisation Habit
the art of spontaneously creating something without preparation.
Entrepreneurs may begin with a certain idea or direction, but obstacles
such as limited resources, unforeseen market conditions, or even
conflicts with team members can prevent them from executing their
initial plans.
This means they need to find a way to quickly adapt to their
circumstances, think on their feet, and create new plans to realize their
vision.
Improvisation Guidelines
● Improvisation is not just for actors or musicians.

● There’s no such thing as being wrong.
● Nothing suggested is questioned or rejected (no matter how crazy it
might sound!).
● Ideas are taken on board, expanded, and passed on for further input.
● Everything is important.
● It is a group activity—you will have the support of the group.
● You can trust that the group will solve a certain problem.
● It’s about listening closely and accepting what you’re given.
● It’s about being spontaneous, imaginative, and dealing with the
unexpected.
The Mindset as the Pathway to Action
The mindset is the pathway to action. There is no entrepreneurship
without action, and the mindset is antecedent to action.
Entrepreneurial Self-Efficacy
(ESE)
the belief that entrepreneurs have in their own ability to begin new
ventures.
is an essential part of the entrepreneurial mindset, and it is thought

to be a good indicator of entrepreneurial intentions as well as a
strong precursor to action.
The General Self-Efficacy Scale (GSES) was designed by
researchers to assess the degree to which we believe our actions are
responsible for successful results.
It measures the belief we have in our ability to carry out difficult tasks,
cope with adversity, persist in reaching our goals, and recover from
setbacks.
The General Self-Efficacy Scale (GSES)
“ As our mindset grows and expands
through practicing self-leadership,
creating, and improvising, we are more
inclined to recognize and create
opportunities.
end

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Activating an

Fixed mindset: the assumptions held by people who perceive their

Growth mindset: the assumptions held by people who believe

FIXED MINDSET: “If you fail, people will laugh at you.”

The entrepreneurial mindset employs various cognitive strategies:

For example, say you are reading through a complex legal

Good habits can be learned through a “habit loop”—a process by

● Improvisation is not just for actors or musicians.

is an essential part of the entrepreneurial mindset, and it is thought

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