EntrepMinds Flashcards
a way of thinking that enables you to overcome challenges, be
decisive, and accept responsibility for your outcomes.
Entrepreneurial mindset
a mode of thinking that equips you with the ability to overcome
obstacles, make quick decisions, and take ownership of your
results.
Entrepreneurial mindset
entrepreneurs must be willing to
take risks in order to succeed.
Take calculated risks:
Entrepreneurs must be creative
and think outside the box in order to come up with innovative solutions to problems.
Think outside the box
set realistic goals and strive to achieve them. Set attainable objectives and work toward achieving them
Set goals
essential for entrepreneurs and
industry professional
Network
biggest killer of the entrepreneurial mindset is not what
you would expect.
failure, doubts
biggest killer of entrepreneurial
mindset.
Fear of Failure
can lead to procrastination, lack of
confidence in one’s own abilities. It can also lead to a lack
of creativity and risk-taking, which are essential for
successful entrepreneurship
Fear of Failure
the act of delaying or postponing something
usually a task or chore, that needs to be done.
Procrastination
Is generally defined as an individual who
organizes or operates a business or businesses.
Entrepeneur
individual who sets up business,
identifies and solve problems, creative, innovative,
opportunists, risk-taker, self-starter, and open-minded with
the hope of making a profit from the enterprise.
Entrepeneur
the process of discovering new
ways of combining resources to create value and generate
wealth.
Entrepreneurship
Is an individual who creates and runs a new business,
usually with considerable initiative and risk. They are
responsible for the success or failure of their business
venture.
Entrepeneur
Microsoft
Bill Gates
Mark Zuckerberg
Elon Musk
Space X
Michael Bloomberg
Bloomberg
Bear any risk in starting up and sustaining his/her business(es).
Assumes every responsibility that
might come up in the course of his business which might be
caused by either change in time or quality.
Risk Taker
An Entrepreneur must be a good salesman.
Responsible for marketing and advertising his products or services.
Sales Person
Entrepreneurs do not only set goals but also thrive so much to achieve their goals.
Goal Setter
- One challenge of being an entrepreneur is that you have to be in charge.
- You must be at the forefront of your business at least during startup.
- You should note that one cannot
make it alone as an entrepreneur.
A leader
Entrepreneurs determine the objectives of their business, and they should know what is suitable per time.
maintains the potential investors or financiers of the enterprise and also manages the funds available.
make sure that his business venture is in good relationship with public authorities and society.
Decision Maker
quick to identify any problem facing
his/her business and immediately seeks a solution.
Identifies and Solve the problem
defined as the combination of entrepreneurial concepts and principles, entrepreneurial character traits and
entrepreneurial skills that provide and become the ultimate source of competitive advantage of the entrepreneur.
Entrepreneurial Core Competency
refer to the unique skills, knowledge, and abilities that an
entrepreneur has that give them a competitive advantage in
the marketplace.
Entrepreneurial Core Competency
refers to the strategic position and
condition of the entrepreneurial venture
Competitive Advantage
refer to the unique skills,
knowledge, and abilities that an entrepreneur has that give
them a competitive advantage in the marketplace.
Competitive Advantage
are characteristics that describe how a
person typically thinks, feels, and behaves.
Personality Traits
To succeed as an entrepreneur, you must gain the ability to look at a problem or situation
Decisiveness
It is essential that you get used to the uncomfortable feeling
of knowing that you don’t know what you’re doing.
Confidence
comes from taking
responsibility for your actions and outcomes.
Accountability
you will need to learn to deal with making
mistakes and failing. They are inevitable and a part of your
growth.
Resilience
freedom from pride or arrogance, and it ties all of the characteristics of entrepreneurship.
Humility
