Entrepreneurial Ventures and Mindset: A Report for HNBS 309

This report provides a comprehensive overview of entrepreneurial ventures and the entrepreneurial mindset, defining entrepreneurship, enterprise, and entrepreneurial activities. It analyzes the scope of entrepreneurship, highlighting innovation and value creation, and discusses various entrepreneurial ventures such as solution agencies, consultancy firms, and blogging. The report further examines different types of entrepreneurs, including serial, technology, and social entrepreneurs, using real-life examples like Martin Frost, Tobi Ajala, and Blake Mycoskie. It also explores shared entrepreneurial traits and characteristics and delves into the critical evaluation of entrepreneurial background and skills. The report concludes by emphasizing the importance of understanding entrepreneurial ventures and mindsets in today's business environment.

ENTREPRENEURIAL
VENTURES AND
ENTREPRENEURIAL
MINDSET

Introduction
 The report of “entrepreneurial venture and mind-set” will comprehensively
illustrate the meaning of entrepreneurship, enterprise and entrepreneurial
activity.
 Report will also analyse the scope of entrepreneurship by using the examples
of various entrepreneurial ventures.

Entrepreneurship
 when an entrepreneur creates new business, enjoying the
rewards and bearing the costs, this entire process of
setting the business is known as the entrepreneurship.
 It is a way of innovative thinking and understanding the
opportunities by adapting a holistic approach of business
affairs and structured leadership.

Entrepreneurial activities:
 an activity where actions are undertaken in the pursuit of value creation and
generation of money and which also contributes in the economic growth by
providing various products services with valuation.
 Enterprises: an enterprise is a legal entity which sets the rights to conduct
business by entering into a contract, owning property, creating transactions,
developing assets, incurring liabilities etc.

Scope of entrepreneurship
 It is more than just a business and creation of trade. It is associated with the ideas and
innovations.
 It is beyond the closed boundaries of the selling and providing services. It's scope lies in
value creation.
 Entrepreneurship is a passion driven and idea driven concept, the orthodox ideas of business
nowadays is vanishing.

Entrepreneurial ventures
 There are many entrepreneurial ventures which are exiting in the market.
 Few such important ventures are solution agency, consultancy firms, blogging
& vlogging, business coach, life coach, tutoring, product based partnerships
etc.
 The similarity in all these above mentioned ventures is the “innovation”
behind the business.
 The major point of difference is the capital requirement in the business.

Entrepreneurs and examples
 Let's take few real life examples to understand the
concept of serial, technology and social entrepreneurs.
 Serial entrepreneur: individuals who sell their creative
ideas to reinvest the profits into the new start-ups.

Continued
 Technological entrepreneurs: tech entrepreneur creates businesses that are
driven by innovation and technology that are aimed to solve customer
problems. e.g. Tobi ajala.
 Social entrepreneur: these are the entrepreneurs who develop the enterprises to
solve social problems or bring an effective social change in the economy. e.g.
Blake mycoskie.

Shared entrepreneurial traits and
characteristics
 The three entrepreneurs taken are martin frost, Tobi ajala and Blake mycoskie
associated with the serial, technology and social entrepreneurs respectively.
 Tobi ajala is the founder of the TECHTEE, a tech enterprise providing
solutions for void between software development, UX and design.
 Martin frost is the co-founder of the unicorn start-up CMR surgical, providing
bio tech solutions by building surgery robots.

Entrepreneurial mindset
 Entrepreneurial mind set is the skills set which enables individuals to identify the
opportunities.
 Also, make the most of those opportunities, overcoming and learning from the
setbacks and striving for the further success.
 Entrepreneurs have set of skills which differentiates them from the organizational
managers.

Critical evaluation of entrepreneurial
background and skills
 An individual is ultimately inspired by the kind of situations faced and
experiences derived from the same
 A person born in a business family will get family support for the
entrepreneurship ideas he has but a person who comes from other family
backgrounds may have difficulty in getting family support.

Conclusion
 The above report has conclusively established the deep understanding of the
entrepreneurial ventures and mind sets.
 Report highlighted the definition of the entrepreneurship, enterprise and
various entrepreneur activities.

References
 Amjad, T. and et.al., 2020. Entrepreneurship development and pedagogical gaps in
entrepreneurial marketing education. The International Journal of Management Education.
18(2). p.100379.
 Balachandra, L., 2019. The improvisational entrepreneur: Improvisation training in
entrepreneurship education.Journal of Small Business Management. 57. pp.60-77.
 Dickel, P. and Eckardt, G., 2021. Who wants to be a social entrepreneur? The role of
gender and sustainability orientation. Journal of Small Business Management. 59(1).
pp.196-218.