Exploration of the Entrepreneurial Mindset (Part 2)

Exploration of the
Entrepreneurial Mindset
(Part 2)

PART 2
INTRODUCTION
 Entrepreneurial mindset defines as its combination and analysis of various
aspects with knowledge, beliefs and new ideas for specific task completion.
 It also includes application of creative approach from own skills utilization
for business development and new opportunities expansion.
 McKinsey & Company is all above management consultancy firm which
provides financial feasibility, motivation and provide beneficial approaches
to individual who wants to start their start-up.

MAIN BODY
EVALUATION CHARACTERISTICS
TRAITS AND SKILLS OF SUCCESSFUL
ENTREPRENEURS THAT DIFFERENTIATE
THEM FROM OTHER BUSINESS
MANAGERS
Successful entrepreneur different from other business manager because they
provide their services into business and entrepreneur start new start-up with their
own creative mindset. So this approach makes differences from other business
manager. Also entrepreneur has multiple range of skills which are as follows,

Self motivated: Entrepreneur is combination and group of multiple skills
because they concern towards with expansion of business with their creative
mindset. Also they mainly start new start-up or business with their own
skills and ability.
First and very common skill of successful entrepreneur is they do
have self motivated skill which is very beneficial for long term establishment
into competitive market. Also they don’t have other people who provide
motivation to them (Hashim, Raza and Minai, 2018).
Creative: Entrepreneur mainly becomes successful because they develop
creative approach for expansion of business activities and they do have skills.
Creative skill is all above refers to involvement of unique ideas, new practices,
innovative tools and analysis of different techniques or approaches for
business expansion.
CONTINUE...

Exploration of the
Entrepreneurial Mindset
Part 2

• Introduction
• Characteristic traits & skills of successful entrepreneurs
• Entrepreneurial personality reflects entrepreneurial motivation and
mindset.
• Background & experience can hinder or foster entrepreneurship
• Conclusion
• References
Table of content

Introduction
An entrepreneur is the one who runs and
initiates the enterprise with way of limited
resources and an effective plan. It is
responsible for the rewards and risk that is
earned by the business enterprise. The main
idea of the venture is mainly compassed of
the new product or service and not of any
existing model of the business.

Difference Between Entrepreneur and
Business Manager
Entrepreneur Business Manager
Entrepreneur is the one who are ready to take risk
for the welfare of their business.
Buiness manager is only work for the salary and
manager is not responsible to take any kinmd of
risk.
Entrepreneurs are visionary and the main concern
on starting and expanding the business idea.
Business manager is concentrate on the day to
day functioning so that all the functions can
operate in smooth way.
The key motivation of the entrepreneur is the
achievements and success of the business.
Key motivation of the manager is the power that
come from the high position in the organization.
Entrepreneur can be very casual and informal. Business manager can adopt the formal approach
in every situation.

Exploration of the
Entrepreneurial Mindset
PART 2

• Introduction
• Characteristic traits & skills of successful entrepreneurs
• Entrepreneurial personality reflects entrepreneurial motivation and
mindset.
• Background & experience can hinder or foster entrepreneurship
• Conclusion
• References
Table of content

Introduction
As per to maintain the requirement of small business
management, it is necessary for the entrepreneurs to
consider specific procedure & strategies to manage
the need of new startups & businesses. For the long
term success, it is mandatory for the entrepreneurs
to maintain all the qualities & characteristics of
entrepreneurship which can helpful to manage each
& every business operations in an appropriate
manner.

Characteristic Traits & Skills Of Successful
Entrepreneurs
Entrepreneurs are the one who have ability to take rest and appropriate decisions to establish a
business with the use of their creative mind. Entrepreneurs contain specific skills, traits &
characteristics whether they are local, social & also global entrepreneurs. The description about all
types of entrepreneurs are given below -
•Local Entrepreneur – Elizabeth Gooch
•Global Entrepreneur- Mark Zuckerberg
•Social Entrepreneur- Bruce Kendrick