The Entrepreneurial Mind-Set: Analysing Features, Traits and Skills of Successful Entrepreneurs

This report explores the concept of the entrepreneurial mind-set, analysing the features, traits and skills that differentiate successful entrepreneurs from other business managers. It also examines how personal background and experience can hinder or foster entrepreneurship. The report provides relevant examples of successful entrepreneurs, including Elon Musk, Bill Drayton, Mark Zuckerberg and Steve Jobs.

THE ENTREPRENEURIAL
MIND-SET

TABLE OF CONTENTS
• INTRODUCTION
• Analysing the features, traits and skills of successful entrepreneurs that
differentiate them from other business managers
• Determining the ways in which aspects of the entrepreneurial personality reflects
the entrepreneurial motivation & mind-set
• Evaluating how background & experience leads to hinder and foster
entrepreneurship with the help of relevant examples
• CONCLUSION
• REFERENCES

INTRODUCTION
• The entrepreneurial mind-set refers to
the set of thoughts, beliefs and
knowledge that determine the behaviour
of the entrepreneurs.
• Those entrepreneurs that possess the
entrepreneurial mind-set has been
proven more-focused and concerned
with high morals. This report will
illustrate the concept of entrepreneurial
mind-set.

Analysing the features, traits and skills of successful
entrepreneurs that differentiate them from other business
managers
• The successful entrepreneur always comes up with the
different features, traits and skills. In order to
understand this with clearance, here are the description
of those features, traits and skills along with the
examples of the entrepreneurs.
• Highly self-employed- This is one of the main character
of the successful entrepreneur that they are self-
employed and achieves the higher rate of the success.
For example: Elon Musk is one of the biggest global
entrepreneur. He is the sign of self-made entrepreneur.

CONTINUE
• Strong sense of ethics- The entrepreneurs highly makes a keen focus over following the
ethics as this adds effectiveness in their personality.
• For example: Bill Drayton is one of the social entrepreneur. He consist a long record of
providing the public services with maintaining the ethical concerns.
• This skill and trait makes the entrepreneur different from the managers.
• The managers focus on creating the ethics in organization and influence employees to
follow those ethics while the entrepreneur adopts the ethics in order to provide their
services to the public.

Determining the ways in which aspects of the entrepreneurial
personality reflects the entrepreneurial motivation & mind-set
• Decisiveness- This is the important character for becoming
the entrepreneur.
• This refers to the ability to look upon the different problems
and comes up with the solution. This aspect of the
entrepreneurial personality shows the effective mind-set of
the entrepreneur.
• For example: Mark Zuckerberg has always stood for their
company whenever the organization has faced the issues.

CONTINUE
• Accountability- This element of the entrepreneurial
personality reflects the professionalism in the mind-set of
the employees.
• The entrepreneurs completely adopts the responsibilities
of success and as well as failure.
• For example: Steve jobs has been considered as the sign
of being and accountable entrepreneur.

Evaluating how background & experience leads to hinder and
foster entrepreneurship with the help of relevant examples
• The personal background and experience of the provides high impact over the
entrepreneurship.
• The personal background involves the support from family and friends. While,
the experience involves the traumas that has been faced in the past.
• This act as a barrier in becoming successful.

CONTINUE
• For example: Alan Michael Sugar is one of the
biggest entrepreneur in UK.
• It has been found from various studies that the
entrepreneur has experience the support from
their family and as a result, he is one of the
biggest entrepreneur.

CONCLUSION
• From the above report it has been concluded that, the entrepreneurial mind-set is the set
of positive belief that adds in the success of the entrepreneurs.
• The skills and traits of the entrepreneurs makes them different among the business
managers.
• The entrepreneurs are always ready to face failure. They touch the success rate after
facing the failure in their life.

REFERENCES
• Handayati and et.al., 2020. Does entrepreneurship education promote vocational
students’ entrepreneurial mindset?. Heliyon, 6(11), p.e05426.
• Belousova and et.al., 2020. Corporate entrepreneurship: from structures to
mindset. Organizational Mindset of Entrepreneurship; Springer: Cham, Switzerland,
pp.211-233.
• Badzińska, E., 2019. Knowledge Acquisition and Business Modeling Using Experiental
Learning Approach to Entrepreneurship. European Journal of Social Science Education
and Research. 6(2). pp.48-56.