THE
ENTREPRENEUR
IAL MIND
PATRIZSA DANA GARCIA
INSTRUCTOR
THE
ENTREPRENE
URIAL
MINDSET
Why this subject?
◦Some of you wanted to be an
accountant, a teacher, doctor, nurse, etc.
◦few will say “I want to become an
entrepreneur.”
Why this subject?
Why this subject?
Why this subject?
Why this subject?
Why this subject?
◦ Chess grandmasters can
burn thousands of
calories as they sit there,
motionless, or
occasionally lifting one
hand to move a small
piece weighing only a few
grams.
◦ Because, with their
minds, they are
expending huge
amounts of energy.
Bottomline…
Bottomline…
◦ “If you tell people they are thinking, they will love you. But if you actually make them think,
they will hate you.”
Who wants to earn money?
Who wants to become rich?
Who wants to have a house and lot?
But, who wants to willing to work hard
for that?
But entrepreneurs don’t work hard, they
work intelligently.
Who is this?
Steve Jobs
Think Different!
WHAT IS
CONCEPTUALLY
UNIQUE ABOUT
ENTREPRENEURSHIP
FIELD?
1. Existence of Profit opportunities.
◦According to Economics, opportunities to make
profits arise because different people assign
different value to the same resources.
1. Existence of Profit opportunities.
If you don’t think as a
entrepreneur, you will not
that the crushed orange
and rinds could be use
fertilizer and can be sold
farmers.
clever
think
pulps
as a
to the
2. Supporting entrepreneurship is the
differences between people in their ability to
spot market opportunities.
- Some might say that “I’d imagined
knew it!”
that before!”
- If you think like an entrepreneur, these regrets could not
happen.
or “I
Entrepreneur is…
◦Is the person who organizes and operates
a business or businesses,
taking on
greater than normal financial risks in order
to do so.
We are now getting close to defining our
mindset that we need to develop.
◦Entrepreneurs need to have:
A clear and achievable vision
A vision where all the resources may
not be in their control
Self-awareness
We are now getting close to defining our
mindset that we need to develop.
◦Entrepreneurs need to have:
Self-motivation
A willingness to take calculated risks
A willingness to listen to others
A lack of fear of failure
A willingness to work hard
MYTHS ABOUT
ENTREPRENEURSHIP
Myth #1: Entrepreneurs don’t have a personal life
-it’s true that entrepreneurshipcan take grueling hours and
commitment,
it’s not true that you can’t have a personal life.
- Part of being your own boss means that you can schedule your own
hours –
to some extent.
-One of the keys to being a successful entrepreneur is mastering your
time
management skills.
-Stick to your schedules.
MYTHS ABOUT
ENTREPRENEURSHIP
◦ Myth #1:Entrepreneurs don’t have a personal
life
◦Lots of people think that entrepreneurs work 24
hours a day, 365 days a year.
◦ Working nonstop means that you won’t have
time for your family, friends, and leisure activities.
◦-it’s true that entrepreneurship can take
grueling hours and commitment, it’s not true
that you can’t have a personal life.
◦ - Part of being your own boss means that you
can schedule your own hours – to some extent.
◦-One of the keys to being a successful
entrepreneur is mastering your time
management skills.
MYTHS ABOUT
ENTREPRENEURSHIP
Myth #2: Entrepreneurs take lots of risks
Entrepreneurs
take risks
but know
how to take calculated risks.
It’s all about balancing the risk and reward.
Entrepreneurs aren’t gamblers. Gambling
implies
there’s luck involved.
- you can’t rely on luck to run your business.
MYTHS ABOUT
ENTREPRENEURSHIP
◦Myth #3:Entrepreneurs are only
motivated by money
◦-Being financially stable means that
you’re comfortable and able to make
ends meet.
◦-Money is definitely a motivator, but it’s
not as important to entrepreneurs as
people assume.
◦ -the amount of money you have
can affect how happy you are.
MYTHS ABOUT
ENTREPRENEURSHIP
Myth #5: Entrepreneurs have great ideas
-Some people may not attempt to start their own business because they
don’t
have a unique idea.
-You don’t need to reinvent the wheel to be an entrepreneur.
-There’s nothing wrong with taking an existing idea and making your
own
business out of it.
-As long as you’re not infringing on anyone else’s trademarks, patents,
or
intellectual property, it’s fine.
-Let’s say you have a unique product, service, or invention.
MYTHS ABOUT
ENTREPRENEURSHIP
Myth #6:All people are Entrepreneur
-There are over 7 billion people in the
world.
-What do all of these people do?
Most people are not entrepreneurs.
MYTHS ABOUT
ENTREPRENEURSHIP
Myth #7: Entrepreneurs have formal training and education
-You don’t need to study business or entrepreneurship to have a
successful
startup company.
MYTHS ABOUT
ENTREPRENEURSHIP
Myth #8: Entrepreneurs are young
-Age has no limitations when it comes to entrepreneurship.
-People may have reservations about starting their own business
because of
their age.
That’s no excuse!
If you’re unhappy with your current job and you have the mentality,
funds, and
resources to be an entrepreneur, go for it!
MYTHS ABOUT
ENTREPRENEURSHIP
Myth #10: Entrepreneurship is genetic
You are not born an entrepreneur.
It’s not a trait that you can inherit from your parents.
Even if your entire family runs their own business, it doesn’t mean
that’s your
destiny as well.
On the flip side, this means you can be an entrepreneur even if your
family
doesn’t own a business.
Conclusi
on
 Entrepreneurship is not easy.
 There are many misconceptions about what it’s like
to
be an entrepreneur.
 Just because you run your own business, it doesn’t
mean that you won’t have time for your family.
 Entrepreneurs can have a social and personal life.
 It’s all about balancing their time management skills.
Conclusi
on
 There is risk associated with a startup company.
 However, these risks don’t translate to the notion
that all
entrepreneurs are gamblers or high risk-takers.
 Most entrepreneurs do not have a college education.
 You don’t need a brand new idea to be a
successful entrepreneur.