THE ENTREPRENEURIAL MINDSET
CHAPTER 2: Entrepreneurial Mindset and Opportunity
I stand upon my desk to remind myself that we must constantly look at things in a different
way.
- John Keating (Lead Character in the 1989 Film "Dead Poets Society")
Are entrepreneurs self-made or do they possess unique gifts?
MINDSET - a belief that qualities like intelligence & talent are fixed or changeable traits
Carol Dweck - Coined the mindset word from her book "Mindset" based on her research
about personalities of successful people.
Two Types of Mindset
People with Fixed Mindset:
 People perceive that their talents and abilities are set.
 They consider their brains and talents are sufficient to become successful and
endure life by becoming smart.
 Sees the world in an "either/or" perspective.
 Success is based on luck or possibly from some sort of prejudicial advantage.
 Avoid challenges, failures, and tell themselves they do not have expertise.
 Believe that these qualities are inborn, fixed, and unchangeable.
People with Growth Mindset:
 Trusts that traits can be changed, developed, and strengthened by working on them.
 Certain that their abilities could be developed by commitment, determination, and
obviously hard work.
 Brains and talent are simply the starting point of the lifelong success of everyone.
 See failure as an opportunity to enhance their performance and take mistakes as
lessons.
 Instead of giving up, they proceed to what they wanted to do despite failures.
Characteristics of an Entrepreneurial Mindset
Curiosity
 Strengthens the ability to understand things with a new standpoint.
 Being humble and open-minded lead to greater knowledge, and greater knowledge
allows more detailed reflection.
Commitment
 Rejection and disappointments are essential elements of an entrepreneur's life which
needs to be endured.
 The focus should be on achievements, because it would motivate the entrepreneur to
persevere
Optimism
 The entrepreneur should be hopeful in exploring its many learning opportunities.
 For a successful entrepreneur, there is always a solution to every problem.
Flexibility
 It helps to be supple to deal with a series of difficult situations, solve problems easily
and make progress from obstacles.
Ownership
 Successful entrepreneurs always trust that their success comes from their own
ability.
 Simply they have high internal locus of control. It has always been their attitude to be
responsible for the things that they do.
 Accountable for success, accountable for failures
Leadership
 A successful entrepreneur always guides, motivates, and empowers his team.
 It is usual for him to share his vision with his team to inspire these people.
Connection
 Entrepreneurs must choose those people that would form his collective links so that
he could breed his idea.
 There should be both emotional and financial bonds.
 Investment is in terms of relationship so that later this bond could be used for support
when needed
Self-respect
 Taking care of oneself daily through rest, exercise, and diet is essential.
 Always have ample rest and sleep for renewing one's energy.
 Take time to exercise and do whatever one enjoys. Eating healthy choices and a few
treats to nourish the body is basic too.
Essentials of the Entrepreneurial Mindset
1.
2.
3.
Passion First
Everything is Possible
100% Accountable
4.
5.
6.
7.
We are Connected
Live Life to Give
Attitude of Gratefulness
The Time is Now
 Passion First
 Real entrepreneurs look for what really are important to them, what they truly
wanted to, and then bring together their business around those things. Have a
sense of meaning and purpose.
 Everything is possible
They trust an idea could be possible to turn into reality. Usually, entrepreneurs
examine first their goals and set things bigger. Nothing could serve as a hindrance
for an entrepreneur to realize his potentials
 100% accountable
Entrepreneurs always believe that they have the power to choose their responses to
any circumstance because they have this mindset.
 We are connected
Entrepreneurs believe they can achieve their dreams not by being alone though they
love to be independent. They wanted to lead by helping other people to do their tasks
and fulfill their dreams without seeking anything in return. Entrepreneurs take honor
in competition because they believe that working with, for, and through others pushes
their potentials.
 Live life to give
As people in business profit more, they tend to give more. This is known today as
corporate social responsibility. Entrepreneurs believe that life is a cycle, hence
those people with so much need to give people with less.
 Attitude of gratefulness
Provides recognition of all positives in every experience and be thankful for these.
 The time is now
Refers to recognizing that all their powers exist in the moment. The important thing is
to take action now.