INTRODUCTION

TO ENTREPRENEURIAL
MINDSET
 ARE YOU AN ENTREPRENEUR OR NOT?
IN THIS SECTION, YOUR HONESTY IN ANSWERING THE FOLLOWING QUESTIONS IS
VERY IMPORTANT. FOR EACH QUESTION, SIMPLY ANSWER “YES” OR “NO.” DO NOT
WORRY, THIS PART IS NOT GRADED. GOOD LUCK!
• _____ 1. DO YOU THINK YOU ARE AN ENTREPRENEUR?
• _____ 2. DO YOU LIKE TO CREATE THINGS?
• _____ 3. DO YOU LIKE HELPING PEOPLE SOLVE THEIR PROBLEMS?
• _____ 4. DO YOU LIKE SOLVING YOUR PROBLEMS ‘CREATIVELY?’
• _____ 5. DO YOU PUSH THROUGH EVEN WHEN PEOPLE TELL YOU YOUR IDEA IS BAD?
• _____ 6. DO YOU CREATE THINGS FROM “RAW MATERIAL?”
• _____ 7. DO YOU WORK VERY LATE, WHEN EVERYONE ELSE IS ASLEEP?
• _____ 8. DO YOU GOOGLE YOURSELF OUT OF SITUATIONS?
• _____ 9. DO YOU PREFER WORKING FOR YOURSELF, INSTEAD OF OTHER PEOPLE?
• _____ 10. DO NEW IDEAS ABOUT WAYS TO IMPROVE THINGS KEEP YOU UP AT NIGHT?
 WHAT IS A MINDSET? WHAT IS THE ENTREPRENEURIAL
MINDSET?
• To arrive at a definition, we must first dig into the
meaning of the words “entrepreneurial” and “mindset”
separately. We start by examining the definition of mindset,
which serves as our foundation, and then move on to what it
means to be entrepreneurial. A mindset is defined by
Merriam-Webster as a “mental attitude or inclination.” As
further elaborated upon by Thum (2012): your mindset is
the sum of your knowledge, including beliefs and
thoughts about the world and yourself in it. It is your
filter for information you get in and put out. So it determines
how you receive and react to information.
 WHAT IS A MINDSET? WHAT IS THE ENTREPRENEURIAL
MINDSET?
• In her book entitled Mindset, Carol Dweck (2006)
acknowledges that a mindset can be fixed or growth-
oriented. While a fixed mindset assumes your talents
and abilities are set, the growth mindset believes your
talents and abilities can be developed. Yet, Dweck is
quick to point out that a mindset can change. Much of
this occurs through developing a greater awareness of
your current mindset and taking steps to purposely
start thinking and reacting in new ways.
 WHAT IS A MINDSET? WHAT IS THE ENTREPRENEURIAL
MINDSET?
A “mindset” refers to the specific behaviors, attitudes, and thought
processes that prompt our decisions. It encompasses how we view
situations, obstacles, and our mental faculties.
Our thought processes can be positive, negative, or anywhere in between. A
negative mindset can blind you, clouding your judgment with doubt and
uncertainty, while a positive mindset opens your mind to the possibilities of a
situation. This gives you a more well-rounded view of a situation, helping you
adapt and approach things creatively.
• An entrepreneurial mindset is a set of skills that relies very heavily
on positive and resilient thinking. People with this mind frame see new
opportunities where others only view risk. They’re constantly generating ideas
to solve everyday problems and are unafraid of advocating for their views or
pursuing their ideas on their own Wooll (2022)
 WHAT IS A MINDSET? WHAT IS THE ENTREPRENEURIAL
MINDSET?

What does it mean to be entrepreneurial?

• The word “entrepreneur” originates from the
French word entrependre, which means “undertaker”
in the sense of someone undertaking a major
project. The French economist most well-known for
coining this term around 1800 is Jean Baptiste,
who emphasized that “the entrepreneur shifts
resources out of an area of lower and into an area of
high productivity and greater yield”.
 THE IMPORTANCE OF HAVING AN ENTREPRENEURIAL MINDSET

• An entrepreneurship mindset isn’t exclusive to high-level business execs. This characteristic can benefit
anyone, whether you’re working in an entry-level role, are in mid-career at a large corporation, or
striking out on your own.
• This perspective is all about professional development, embracing your mistakes, and turning them into
motivation and hustle to reach higher heights. Here are some of the benefits of embracing this kind of
thinking:
• You’ll learn to overcome challenges. Being entrepreneurial means identifying challenges and overcoming
them. It also means learning new skills, so you have a bigger toolbox with which to fix problems. Not
only does Forbes say resilience is a top skill valued by employers, but it will also help you in your life and
career.
• You’ll think outside the box. Sometimes the best way to overcome a challenge is to ditch conventional
wisdom. If you develop your creativity, you can solve problems in ways you haven’t thought of before.
• You can influence and inspire people. You don’t have to change the world to make an impact. As an
entrepreneurial person, your skills can make a difference for your team and community.
• You’ll have a stronger sense of self. When you have an entrepreneurial spirit, you take ownership of your
ideas, goals, and dreams. You know your purpose, skills, and weaknesses and have a strong sense of
identity. With this kind of self-awareness, you’ll boost your self-esteem and elevate your team.
 HOW TO DEVELOP AN ENTREPRENEURIAL MINDSET
Anyone can cultivate the right mindset. Seeking out like-minded individuals, new
ventures, and experiences and continuing to grow your knowledge of this particular
realm is a great place to begin.
Here is a list of tips to help you develop an entrepreneurial mindset:
1. Set clear goals
• Manifesting your dreams on paper or out loud can be the spark you need to start.
Outlining where you plan to go can act as a visual reminder of your goals. It can
also encourage you to reflect on your accomplishments and direction.
• These goals could apply to your business, career, or personal life. Entrepreneurial
success usually applies to business owners, but your entrepreneurial skills will help
any of your ambitions.
2. Practice being decisive
• Entrepreneurs, students, parents, and everyone in-between must make decisions
daily. It's an all but mandatory life skill. If you can’t make up your mind, you won’t
make progress.
 HOW TO DEVELOP AN ENTREPRENEURIAL MINDSET
3. Redefine failure
• You can’t avoid failure, and life is full of them. All you can do is face challenges head-on
and turn them into learning experiences.
• While it does take time, exhibiting a conscious effort to alter your mindset will
dramatically benefit you in the long run. Mental wellness will improve your
performance and lead to self-love, and you’ll forget what failure ever meant.
4. Face your fears
• Fear is inevitable in your professional and personal life. Engaging with situations
outside of your comfort zone helps you grow. Addressing and analyzing what worries
you will get you one step closer to achieving your goals. Remember: vulnerability is
healthy.
5. Remain curious
• Let your inner child run free and wonderous. Always be curious about your competition,
current trends and events, new technologies, new people, and new business ideas.
Sign up for webinars and listen to podcasts about your industry. Before you know it,
 THE BENEFITS OF AN ENTREPRENEURIAL MINDSET IN THE WORKPLACE

Encouraging an entrepreneurial mindset can do wonders to your

workplace. A work culture based on entrepreneurism is:
• More resilient. Everyone is willing to try new things and learn from
their mistakes. This means your team is ready to adapt to rapidly-
changing work environments.
• Collaborative. Entrepreneurial people are curious, ask a lot of
questions, and know how to ask things of others. Stack your team with
people like this, and they’ll work together like a fine-tuned machine.
• Solutions-oriented. No problem is insurmountable. An
entrepreneurial work culture thrives on a good challenge.
• High-performing. These people are on the cutting edge. With an
entrepreneurial mindset, your team will constantly expand their skills
so they can rise to new heights.
Examples of an entrepreneurial mindset and thinking
in the real world
What does entrepreneurship look like in the real world? Here are some examples to
inspire you.
1. Thomas Edison
• A historical example of entrepreneurial behavior is Thomas Edison. He modeled creativity and
adaptability when he invented the lightbulb. He saw a need for a small enough lighting solution for
the home that used very little electricity. This product didn’t exist yet — so he made it happen.
• It took him over a year to make his product work, despite his plan to have it done in three to four
months.
• A lot of people would give up after month six. But, to quote the man himself, “I have not failed. I’ve
just found 10,000 ways that won’t work.” Talk about positivity.
2. Steve Jobs
• Another example of the entrepreneur mindset in action is Steve Jobs.
• After being fired from Apple — the company he started — he could have given up. But he instead
became the co-founder of Pixar animation studios, changing the face of animated film-making.
• Then, upon his return to Apple, he spearheaded the creation of the iPod and the iPhone — products
that brought the company back from the brink and made it the juggernaut we know today.
• Jobs’ story adds weight to one of his favorite quotes of his: “It’s impossible to fail if you learn from
your mistakes. Don’t give up.”
Examples of an entrepreneurial mindset and thinking in the
real world
What does entrepreneurship look like in the real world?
Here are some examples to inspire you.
3. Nelson Mandela
• It takes an entrepreneurial spirit to enter politics — even more so if it means
opposing a system bent on curtailing human rights.
• Such was the case for Nelson Mandela. Early in his adult life, he became a leader
of a youth equal rights group, opposing the apartheid policies of the south African
government. He would go on to become president of South Africa, where he
implemented policies that would help heal and unite his country.
• This is entrepreneurship in a different sense. Mandela saw the potential for a
better future and set about building it — something we can all do in our everyday
lives.
• As Mandela put it, “One of the most difficult things to do is not to change the
Examples of an entrepreneurial mindset and thinking in the real
world
What does entrepreneurship look like in the real world?
Here are some examples to inspire you.
4. J. K. Rowling
• If entrepreneurship requires creativity, creative fiction is very much an entrepreneurial
endeavor. J.K. Rowling embodied this sentiment when she created the popular harry
potter book series, inspiring a generation of kids with her writing.
• But sometimes a good idea isn’t good enough. Her first book in the series was rejected
by 12 different publishing houses before someone accepted it. Had she given up after
the first letter, the world would have never experienced the magic of Hogwarts.
• Speaking vicariously through Ginny, a character in her book, Rowling reminds us,
“anything's possible if you've got enough nerve."
5. The people you don’t hear about
• Rowling, Mandela, Jobs, and Edison embody the entrepreneurial mindset and exemplify
how it can change the world.
Examples of an entrepreneurial mindset and thinking in
the real world
What does entrepreneurship look like in the real
world? Here are some examples to inspire you.
• These people aren’t waiting for something to happen.
They’re doing the work to address a need while
achieving their own goals, dreams, and aspirations.
• Anyone can embrace the entrepreneurial mindset
• You don’t have to run a business to be an entrepreneur.
The entrepreneurial mindset is about taking ownership
of your work and using your abilities to tackle
challenges and make an impact.
ACTIVITY: STATEMENT COMPLETION
• DIRECTIONS: USING YOUR OWN WORDS AND IDEAS, COMPLETE THE FOLLOWING STATEMENTS BELOW. A MINIMUM
OF TWO SENTENCES PER STATEMENT IS ALLOWED.
• 1. I learned that entrepreneurial mindset is
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• 2. Having an entrepreneurial mind is important because
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• 3. To develop my entrepreneurial mindset, these are the things that I have to remember
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• 4. The most essential trait of an entrepreneur for me is
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