Unlike the traditional path you might take at an organization or in your career, there is no blueprint for entrepreneurs to follow. That’s because entrepreneurship is a lifestyle choice, not a career. Entrepreneurs aren’t pounding the pavement looking for work. Instead entrepreneurs keep busy trying to create opportunities for themselves, and they’re unafraid of what can happen if their big idea doesn’t take off right away, or at all.
This so-called entrepreneurial spirit is what experts refer to as the “entrepreneurial mindset.” In this blog, we discusses the characteristics that make up that mindset.
What Is the Entrepreneurial Mindset?
Successful entrepreneurs possess the following nine qualities:
1. Determination
The refusal to fear failure keeps entrepreneurs going. As setbacks happen, entrepreneurs seek solutions instead of focusing on the negative.
2. Focus
Entrepreneurs rarely allow distractions to take their minds off matters at hand. It’s a quality that many UAGC students develop in college. As busy students, most are required to balance school with the responsibilities of work and family.
3. Drive
Entrepreneurs are driven to make their ideas work, so much so that they develop daily habits in order to remain on track.
4. Decisiveness
When you’re the head of an entrepreneurial venture, everything falls on you. Time is money, so the ability to make rational decisions quickly can help an entrepreneur avoid wasteful thoughts and actions.
5. Independence
Though networking plays a big part in sharing ideas and gaining perspective, entrepreneurs are very comfortable taking matters into their own hands. The need for independence is one of the reasons why a person who has already enjoyed a long career in business may break from their company to strike out on their own.
6. Authenticity
There is a genuineness to entrepreneurs; they’re not phonies. Even if people don’t always believe in their ideas, you cannot question their passion for what they are hoping to create.
7. Flexibility
9-to-5 is not really an option for entrepreneurs. They’re thinking about their ideas 24/7, and have no qualms about getting down to work at any time of the day or night. It’s a trait they share with UAGC students who are perfectly comfortable finishing a paper after the kids have gone to bed, or reading the chapter of a book on their phones during their lunch breaks.
8. A Thirst for Knowledge
Entrepreneurs have a natural desire to learn, and this is what often drives them to earn their degrees. They have ideas, but they recognize that much more information is needed to bring those ideas to life.
9. Creativity
The ability to think outside the box and improvise when necessary is an essential element of the entrepreneurial mindset. Entrepreneurs can see how something is done and imagine how it can be done better.
Nurturing the Mindset
The UAGC Entrepreneurship Emphasis nurtures the entrepreneurial mindset in students. The passion that budding entrepreneurs bring to the classroom is embraced, and they are trained in the skills they’ll need to realize their dreams of a sustainable business.
At the same time, students realize that the nine characteristics they already possess are key to helping them develop valuable, transferable soft skills.