Being Entrepreneurial - Entrepreneurial Mindsets

 How do entrepreneurs think? What ideas and beliefs influence the way that they identify and then pursue entrepreneurial activity?

 Those are key questions that we consider in the Being Entrepreneurial qualification through a series of structured learning activities and resources.

 Each resource approaches mindsets in a slightly different way and students are encouraged to consider other mindsets that might be important and examples of how and why they play a part.

 Set out below is a brief summary of some of the key entrepreneurial mindsets - can you think of some others that might be included? Add your suggestions to the Disqus box further below!

Self-belief

An entrepreneur’s belief in their own ability to achieve things.

Taking initiative

An entrepreneur’s ability to act before others do and take advantage of opportunities as they arise.

Risk-taking

The willingness of an entrepreneur to engage and try new things which others may be reluctant to do.

Determination

Entrepreneurs pursue a goal until it is reached and never give up .

Resilience/ attitude to failure

Entrepreneurs are strong and relatively unaffected by difficult situations and hurdles placed in the way. They are unafraid of failure and learn from their mistakes.

Persistence

Similar to determination in that entrepreneurs never give up in the pursuit of their goal.

Creativity/ innovation

Entrepreneurs often find new solutions to problems or other ways of meeting people’s needs. They actively seek to innovate and look for good ideas from other markets and industries which can be applied elsewhere.

Ethical

Entrepreneurs often make decisions that are based on what they believe to be morally correct.

Vision

Entrepreneurs can see opportunities and solutions where others cannot, enabling them to pursue entrepreneurial activity.

Passion/energy/spirit

Entrepreneurs are driven to achieve what they believe in. They draw on deep reserves of energy and are prepared to work hard to achieve their goals.

Willingness to seek advice and help

Entrepreneurs aren't afraid to seek advice and help when it is needed, often from fellow entrepreneurs!

Optimism

Optimism is undoubtedly a useful mindset for an entrepreneur. It helps you get through the tough times.

Confidence

Confidence is an important mindset to have. Entrepreneurs need to have confidence in their ideas, in themselves and in others.

Courage

This links with self-confidence, but it goes deeper than that. Having courage helps make tough decisions and convince others to believe in you and give you a chance! Courage does not mean being fearless and stupid. When you have courage, however, you recognize the risks, but take action regardless.

Hunger to achieve

Many entrepreneurs live to accomplish things. to make things happen and say "I did that".