Entrepreneurial Mindset: Traits, Skills, Motivation, and Background

This report provides an in-depth exploration of the entrepreneurial mindset, differentiating between entrepreneurs and business managers. It highlights the essential characteristics, traits, and skills required for entrepreneurial success, emphasizing how an entrepreneurial personality reflects motivation and mindset, particularly through the OCEAN model, which includes openness and conscientiousness. The report also discusses how background and experience can either hinder or foster entrepreneurship, using Peter Jones as an example. The conclusion summarizes the different types of entrepreneurial ventures and underscores the importance of the discussed characteristics and skills. Desklib provides resources to aid students.

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.

Characteristic Traits & Skills Of Successful
Entrepreneurs
To become a successful entrepreneur, it is mandatory for the person to have
appropriate characteristics, traits, & skills. Through these attributes, individual
can effectively achieve their permanent goals & maintain effective
entrepreneur real personality around the whole globe. The prime motive of
this report is to highlight specific characteristics, traits & skills about most
influential entrepreneurs who are constantly working toward achieving
desirable outcomes & become the effective example of best entrepreneurial
personalities.

Entrepreneurial Personality Reflects Entrepreneurial
Motivation And Mindset
There are various appropriate skills & traits are required so that individuals
can maintained their entrepreneur real personality. In order to manage
influential entrepreneurial personality, it is mandatory for the entrepreneur to
maintain specific mind set so that they can effectively improve their
motivational level. To improve the mindset of the entrepreneur & obtain
specific personality traits , it is mandatory for the entrepreneur to use OCEAN
model so that we can learn specific personality traits in order to motivate them
self. There are five personality traits are involved in this model which are
discussed below -

OCEAN Model

OCEAN Model
Openness – This is containing as first personality trait which need to be
consider by the entrepreneurs. The main concern of this state is to maintain the
intellectual & imagination power of the entrepreneur so that they can
effectively use specific idea in order to improve their business operations.
Conscientiousness – The prime concern of this personality trait is to maintain
the the specific reliability & flexibility so that entrepreneurs can effectively
improve their productivity level to achieve business goal.

Background & experience can hinder or
foster entrepreneurship
The explanation about background & experience about the local, social and
global entrepreneurs are as follow -
Peter Jones
Background: Peter Jones is a British entrepreneur and was born on 18th march,
1966 in England. When Jones was a teenager, this entrepreneur earn money by
providing tennis lessons to people after being an excellent player.

Conclusion
It is concluded that there are many types of entrepreneurial ventures which
includes small, local and social and are the part of typology which is categorized
as growth and lifestyle firms.This presentation discussed about the
characteristics, skills & traits of the famous l entrepreneurs with their specific
experiences.

References
Muyassarhon, U., 2018. The concept of development of management of small
business based on institutional reforms. Бюллетень науки и практики, 4(4).
Niosi, J., 2018. Entrepreneurship: a short literature review. International Journal
Entrepreneurship and Small Business, 35(3), pp.257-265.
Turner, T. and Gianiodis, P., 2018. Entrepreneurship unleashed: Understanding
entrepreneurial education outside of the business school. Journal of Small Business
Management, 56(1), pp.131-149.

Thank you