Lesson 2

• NFTE Entrepreneurial Mindset includes a blend of characteristics, attitudes, and skills that describe how successful entrepreneurs think and act
• NFTE Entrepreneurial Mindset can be useful for everyone to develop for their own lives and careers
• Personal characteristics include:

  • Openness to experience
  • Conscientiousness
  • Extroversion
  • Agreeableness
  • Neuroticism
• evaluating your strengths and weaknesses

  self-assessment
• way of viewing or thinking about something that affects how you feel about it

  Attitude
• describes a quality or behavior of a person; can include determination, honesty, and patience

  characteristic
• ability that’s learned through training and practice

  Skill
• person who provides free guidance, tutoring, and suggestions for achieving your goals

  Mentor
• a blend of characteristics, attitudes, and skills that describe how successful entrepreneurs think and act; it can be useful for everyone to develop an entrepreneurial mindset for their own lives and careers

  NFTE Entrepreneurial Mindset
• a willingness to take risks in spite of possible losses

  courage
• inventing new ways of doing things; thinking “outside the box”

  Creativity
• the desire to learn and ask questions

  Curiosity
• refusing to quit in spite of obstacles

  Determination
• the ability to stay focused and follow a schedule in order to meet deadlines

  Discipline
• being sensitive to the thoughts of others

  Empathy
• being passionate about something; the ability to see problems as opportunities

  Enthusiasm
• the ability to adapt to new situations; a willingness to change

  Flexibility
• a commitment to being truthful and sincere with others

  Honesty
• recognizing that most goals are not reached overnight

  Patience
• is the ability to show respect to everyone around you while you perform your responsibilities as best as you can

  Professionalism
• being accountable for your decisions and actions; not “passing the buck”

  Responsibility
• SKILLS ENTREPRENEURS NEED:

  • Business skills
  • Communication skills
  • Computer skills
  • Decision-making and Problem-solving skills
  • Mathematical skills
  • Organizational skills
  • People skills
• understanding how to create and manage a business

  Business skills
• the ability to listen well, write well, and speak well

  Communication skills
• the ability to use technological tools effectively

  Computer skills
• knowing how to apply logic, information, and past experiences to new decisions and problems

  Decision-making and Problem-solving skills
• using maths to create budgets, keep accurate records, and analyze financial statements

  Mathematical skills
• the knack of keeping tasks and information in order; the ability to plan well and manage your time

  Organizational skills
• the ability to persuade and motivate people; knowing both how to be a leader and work in a team

  People skills
• NFTE Entrepreneurial Mindset Characteristics:

  • Initiative and Self-Reliance
  • Flexibility and Adaptability
  • Communication and Collaboration
  • Critical Thinking and Problem Solving
  • Future Orientstion
  • Opportunity Recognition
  • Comfort with risk
  • Creativity and Innovation
• Initiative and Self-Reliance

  Set goals and establish action plans to accomplish them

  Manage time effectively

  Face challenges with an optimistic attitude

  • Adjust plans to move forward and meet goals
• Flexibility and Adaptability

  • adapt to different roles

  Understand how to incorporate feedback effectively

  Learn from and how to act with setbacks

  • Reflect critically on learning experiences and processes
• Communication and Collaboration

  articulate the thoughts and ideas effectively to individuals and groups

  Work effectively in groups

  • Respect team members and alternate points of view
• Critical thinking and Problem solving

  • analyze and evaluate different points of view

  Synthesize information and arguments from a variety of sources

  • Interpret information and draw conclusions
• Future orientation

  prioritize long-term success in the face of short-term sacrifice/work

  • See beyond and plan for a time horizon greater than one year
• Opportunity recognition

  identify problems as opportunities

  Understand when there is a “window of opportunity”

  • Assess business ideas to identify opportunities
• Comfort with risk

  understand the difference between risk and reward

  Learn how to calculate risk

  • Differentiate between short-term and long-term risks
• Creativity and innovation

  brainstorm and use other creative-thinking exercises

  Find creatuve solutions, evaluate and refine ideas

  • View failure as an opportunity to learn