module 2.1 Entrepreneurial Mindset, Journey, Ego, Motivation

• Entrepreneurial

  Mindset, Journey,

  Ego, & Motivation
• • Mindset is a series of self-perceptions or beliefspeople hold about themselves.
• Entrepreneurial Mindset

  The Entrepreneurial Mindset “Blueprint for thinking and acting in

  environments”
• ENTREPRENEURIAL PERSONALITY:

  SELF-CONFIDENCE

  RISK-TAKING ABILITY

  DECISION-MAKING ABILITY

  COMPETITIVE

  VISUALIZATION

  PATIENCE

  EMOTIONAL TOLERANCE
• ENTREPRENEURIAL PERSONALITY

  LEADERSHIP QUALITY

  TECHNICAL SKILL

  MANAGERIAL SKILL

  CONFLICT RESOLUTION SKILL

  ORGANIZING SKILL

  HIGH MOTIVATION

  CREATIVE

  REALITY-ORIENTED
• Four Characteristics of an Entrepreneurial Mindset

  Ability to confront self-doubt : Teaching yourself how to think means acting like your own coach or even cheerleader.

  Accountability : Having an entrepreneurial spirit includes recognizing your responsibility for the outcomes and actions of your business

  Resilience : Mistakes are inevitable when attempting to launch new ventures.

  Willingness to experiment : Entrepreneurs are always willing to experiment when it comes to new products, business plans, or problem-solving techniques.
• Developing an Entrepreneurial Mindset :

  Set clear goals.

  Practice being decisive.

  Redefine failure.

  Face your fears.

  Remain curious.
• Entrepreneurs, innovators, and new business owners


  • Develop the ability to analyze a situation, absorb the relevant data, and make a confident decision
  • Avoid indecision, which can ruin small businesses and start-ups
• Failure


  • Failing indicates that you've tried something, which can be a scary thing to do
  • True failure is not trying at all
• Entrepreneurs


  • Face fears such as public speaking, failure, and embarrassment
  • Expose themselves to their fears to chisel away at them
• Entrepreneurs


  • Maintain curiosity to constantly learn and maintain a competitive edge
  • Seek out new people and new experiences
  • Never lose the curiosity to see around corners
• ENTREPRENEURIAL JOURNEY

  Nobody is born an entrepreneur.
• Guide to entrepreneurship: to achieve your goal is by avoiding mistakes.

  1. Have the right mindset.
  2. Be honest with yourself.
  3. Start thinking.
  4. Find a mentor.
  5. Commit.
• Stress and Entrepreneur

  Stress is a close companion in the life of an entrepreneur, which can also sometimes lead to periods of

  depression. So it is timely to be putting the spotlight on some of what it means to speak out about one

  of the more silent and unspoken aspects of being an entrepreneur (or sometimes it's called being a

  solopreneur ).
• Dealing with entrepreneur isolation

  Entrepreneurs are often stereotyped as gregarious wheelers and dealers who network their way to fame and

  fortune.
• Strategies of business leaders in overcoming isolation

  1. Collaborate & Co-work
  2. Cry it out
  3. Get Help
  4. Opening up
• Strategies of business leaders in overcoming depression

  1. Look beyond self-help.
  2. Find a safe space.
  3. Close the gap.
• Entrepreneurial ego and motivation

  Entrepreneurial Ego

  Natural leadership qualities and a desire to lead are driven by ego.

  Ego is important. Without a healthy ego entrepreneurs don‟t have the necessary internal reserves to

  survive the daily rigors of startup life.
• How the Ego Works in business- The ego moves the project forward and the business starts to gain momentum.
• The Entrepreneurial Motivations

  The factors that motivate people to take all the risk and start a new enterprise can be

  identified.
• The 6Cs that motivate entrepreneurs to establish their own business are as follows:

  ❖Change

  ❖Challenge

  ❖Creativity

  ❖Control

  ❖Curiosity

  ❖Cash
• Results of Motivation:

  Successful entrepreneurship needs determination, freedom, discipline, connectivity and an

  abundance of skills in planning.
• Outcomes of proper motivation :

  1. Heavy industrialization:
  2. Self-employment:
  3. Economic growth:
  4. Creating new jobs:
  5. Proper social benefit:
• Heavy industrialization


  • Tremendous growth can be seen in industrialization
• Self-employment


  A common man gets a chance to make a difference, set a new standard of industrial growth
• Growth in an individual's economy


  Growth in the company's economy
• Growth in the company's economy


  Growth of that particular area and country
• Creating new jobs


  • More entrepreneurship leads to more job openings
• Proper social benefit


  • When a country's economy grows or increases we see that more advanced and proper social benefits are provided to the general public like construction of roads, school, hospital, colleges, etc.