Entrepreneurial Mindsets: Analyzing Successful Entrepreneurs

This essay delves into the entrepreneurial mindsets of three prominent figures: Bill Gates, Jeff Bezos, and Elon Musk. It begins by defining the entrepreneurial mindset as a unique approach to challenges and mistakes in business, emphasizing the need for continuous skill improvement. The essay then analyzes Bill Gates, highlighting his reptile-minded approach and his focus on revolutionizing personal computing. Next, it examines Jeff Bezos, emphasizing his entrepreneurial mindset and his focus on expanding Amazon. Finally, it explores Elon Musk, discussing his entrepreneurial and reptile mindsets, as well as his diverse ventures and ambitious goals. The essay connects each entrepreneur's actions to relevant theories, such as the mental model theory and the sociological theory of entrepreneurship. Ultimately, the essay concludes that each entrepreneur's individual nature shapes their business approach and mindset, which is a key factor in their success.

Running head: ENTREPRENEURIAL MINDSET
Entrepreneurial Mindset
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According to the viewpoint of Rigolizzo and Amabile (2015), the synergy of an
entrepreneurial mindset is defined as the different and unique way of thinking of diverse
individuals who determine to be a successful entrepreneur. Specifically, it is concerned about
the manner in which the entrepreneur would approach the challenges as well as mistakes that
would come up in the lifecycle of their business. Moreover, the inherent requirement of the
entrepreneurs to improve their skillset and keep trying to work harder is stated to be the
ideology of the entrepreneurial mindset (Monbiot 2016). In this context, the given paper is
focused on investigating the mentality of three successful entrepreneurs. The same is
specified under.
In the first place, considering the example of Bill Gates, it can be examined that Sir
William Henry Gates (renowned as Bill Gates) is recognised as an American business person
who into different fields as an investor, an author, a philanthropist as well as a humanitarian.
Not only this, Gates is profoundly known to be the principal founder of the famous Microsoft
Corporation (Qin et al. 2018). The profound interest of Gates in the aspect of software made
him launch Microsoft, which turned out to be the largest software company for personal
computers all across the globe. Studies show that Gates was just 20 years of age when he
achieved this significant accomplishment along with Sir Paul Allen (Davies, Mullan and
Feldman 2017). In light of this accomplishment achieved by Gates, it can be stated based on
the mental model theory of entrepreneurship that Bill Gates had a thought process of how
things work in the real world. The mental model says that an entrepreneur should be aware of
the direct and indirect relationship that exists between the various parts of the business and
the perception of the intuitions of the individual regarding the acts they would take up in the
business and the consequences related to the same (Schumpeter 2017). Connecting to this
ideology of the mental model theory, it was examined that Gates had a clear viewpoint of
bringing revolution to the system of personal computers. The mental model theory also states

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that an entrepreneur needs to be positive in his working nature. In this connection, studies
show that even after being criticised for the business tactics he uses, he took those criticisms
as a positive one and kept on accomplishing his desired targets. This positivism in his nature
proved the criticisms to be anti-competitive, and Gates have known to be included in the
Forbes list concerned to the world's wealthiest people since the year of 1987 (Freund 2016).
Not only this, but Bill Gates has even been holding the title of the wealthiest person across
the globe from the fiscal year of 1995 to 2017. With the help of the above-illustrated pieces
of evidence, it can be stated that Bill Gates is a reptile-minded entrepreneur because he has
the thought process of ruling the world with his knowledge. He is not known just to make
money but also govern the generation of the computer since the last decades.
Considering Jeff Bezos as the second example, it was investigated that he is
recognised as an American entrepreneur who works as a technology individual, an investor as
well as a philanthropist. In addition this, Bezos is significantly recognised as the founder,
CEO as well as the president of the renowned company named Amazon (Meneses Alvarez
2018). The concerned company of Amazon was known to be initiated as an online book
store. At present, it is expanded to a substantial electric commerce store that deals with the
selling of different kinds of household products, apparels, groceries and electronics. It also
deals with the online entertainment market business which streams both the audio and video
entertainment programs, cloud computing as well as the synergy of cloud computing. This
illustrated pieces of evidence can be significantly related to the Sociological Theory of
Entrepreneurship as the theory is stated to be an approach where an entrepreneur is critically
focused on developing, maintaining and expanding one’s business (Huda et al. 2019).
Specifically, the sociology towards helping oneself with the recognition process that the
business development will altogether help in the economic stability of the nation as well. This
clearly emerges with the working process of Jeff Bezos as examined by the studies that he

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made continuous efforts in the synergy of expanding and growing his business of Amazon
with a determination to provide a better GDP to the nation (Vecchio, Benfratello and Sabet
2018). In this connection, the paper tends to state that Jeff Bezos was entirely an
entrepreneurial-minded individual as his only and prior focus remained on growing and
intensifying his business enterprise (Yunus 2017).
Last, but not least, the third example of a successful entrepreneur is taken as Elon
Musk. Born in the year of 28th June 1971, at present, he is efficiently recognised as an
entrepreneur in the field of technology, investment as well as an engineer (Nagelhout 2016).
He is known to hold the citizenship of South Africa, Canada as well as the United States.
Moreover, he is also known as the founder as well as the CEO and lead designer of the
company named SpaceX (Nagelhout 2016). Not only this, but he is also known as the co-
founder, CEO, as well as the product architect of the company Tesla Inc. In addition to this,
he is also the co-founder of the companies named OpenAI and PayPal. Elon Musk is
recognised to be ranked on the 21st rank in the Forbes Magazine in the list of the World’s
Most Powerful People. At present, his net worth is recorded as a net of $19.4 billion, and this
makes him list amongst the 40th richest person all across the globe (Andonova, Nikolova and
Dimitrov 2018). Studies also show that he had begun his studies in the course of PhD in the
subject of applied physics as well as material science in the Stanford University in the year of
1995. However, he dropped the same in just a time of two days as his prior interest lied in
pursuing the entrepreneurial career (Blundel, Lockett and Wang 2017). Henceforth, Musk
started investing in different web software companies and online banking system. This
synergy clearly proves that Elon Musk is an entrepreneurial-minded person since he has
expanded his career into entrepreneurship and making a considerable amount of profit out of
the same. Based on the Psychological Entrepreneurship Theory, which states that the
mental, as well as the emotional elements of an entrepreneur, are specifically driven towards

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the needs of the entrepreneurship itself (Kuratko 2016). In this connection, it was examined
with the help of illustrated pieces of evidence that, Elon Musk was dedicated entirely to
making a recognisable career in the field of entrepreneurship and making his livelihood
luxurious from the same. This is clear with the evidence that Musk in addition to the primary
business pursuits he had, in the present has been recorded to envision a system of high-speed
data transportation which is predominantly named Hyperloop. He also proposed the synergy
of vertical take-off and landing of the supersonic electric aircraft with the help of the
propulsion of the electric fan named as the Musk electric jet (Rimmer 2018).
The above-mentioned aspects of Elon Musk are not enough. Recent studies show that
Musk has clearly stated his prior goals to let his inventions of Tesla, SpaceX as well as
SolarCity work in a way that revolves around the vision to change the world and the synergy
of humanity (Angwin and Cummings 2017). The goals include the reduction of global
warming and the reduction in the risk of human extinction with the help of sustainable energy
production as well as consumption and establishment of human life on Mars, respectively.
These goals of Musk brings in a different mind state of him named reptile mind into the light.
Moreover, these goals are related to the Sociological Theory of Entrepreneurship, as this
theory is connected to the welfare of the nation and the purposes of musk also defines the
welfare of the nation.
Hence, to bring to a vital conclusion, it can be stated that every entrepreneur works with a
different mindset and thought process. Given the findings based on Bill Gates, it was
undermined that he works with a reptile minded approach and in lieu of this, Jeff Bezos
works with an entrepreneurial mind. Taking Elon Musk into consideration, it was recognised
that he works with both an entrepreneurial as well as reptile mindset. In light of this, it can be
stated that every individual is different in nature, which helps the same to carry their business
in different ways.

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