MGMT 210: Essay on Entrepreneurial Mindset and Traits

This essay, prepared for a course on entrepreneurial mindsets, analyzes the lives and contributions of three prominent Australian entrepreneurs: Michael Cannon Brookes, Ruslan Kogan, and Nicholas Molnar. The report provides biographical details, highlighting each entrepreneur's key achievements and societal impact. It examines the characteristics that define their entrepreneurial approaches, including risk-taking, innovation, and customer-centricity. The essay also explores the challenges faced by each individual and discusses the role of their entrepreneurial mindsets in their success. The essay concludes by identifying Ruslan Kogan as a preferable role model, emphasizing the importance of innovation, customer focus, and a willingness to take risks. The work draws from various sources to support its analysis of the entrepreneurs' traits and their impact on the business landscape.

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Table of Contents
Introduction................................................................................................................................2
Biography, contribution, and challenges....................................................................................2
Characteristics............................................................................................................................3
Preferable role model.................................................................................................................4
Conclusion..................................................................................................................................6
References..................................................................................................................................7

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Introduction
This report outlines the important entrepreneur in Australia. An entrepreneur is a leader of
business and operate nation vibrant culture by innovation in the economy and identify the
level of risk. It is necessary to build an empowered organisation with new technology.
According to (Zolin & Schlosser, 2013) it is necessary to work with technologies to inspire a
generation and influence others. (Azmat & Zutshi, 2012) Referred that marketing has
changed as influencers need to do something special with a positive impact on the nation. The
following report highlight the entrepreneur Michael Cannon Brookes, Ruslan Kogan, and
Nicholas Molnar biography, traits and important contribution towards the society and
preferable role model.
Biography, contribution, and challenges
Michael Cannon Brookes is a co-founder of Atlassian software organisation. He was born on
1979 November. He was honored by the World Economic Forum as a young global leader in
2009. He is a member of the forum of Young Global Leaders. (Wodak, 2011)Argue that
departments are transformed to support technology-driven innovation and manage
applications. Teams of an organisation are self-driven and products established to support
streamline workflows. Atlassian has created a foundation to support and make the world
better. Atlassian contributes 1% of annual profits, 1% of organisation equity, and 1% of
employee time to CSR activities. He mentioned that the government's 457 visas have
changed and hurt directly to Atlassian by suffocating ability to grow as an innovation
(Farquhar, 2018).
Ruslan Kogan is a CEO and founder of Kogan.com. He is a serial Entrepreneur. Under the
age of 30, Kogan was Australia's richest person. He started Kogn.com in 2006. He believes
in open source solutions with cloud computing and open-source software. Kogan.com is a
prominent customers brand and renowned for leadership by digital efficiency and focus to
make the most demanded amenities and product more affordable and accessible. Kogan.com
is direct to customer online business and expanded to a range of areas including Kogan travel,
Kogan Insurance, Kogan money, Kogan internet, and Kogan mobile. It has made an everyday
product more accessible and affordable by the access of mobile phone to superannuation,
holidays, car insurance, credit cards, high-speed internet, and so on. There are many
challenges faced by Ruslan Kogan as started the organisation with few people. He did not

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have a lot of faith as only a few numbers of people bought televisions online (Anderson,
2014).
Nicholas Molnar has come in a long way with selling jewelry and watches on eBay.
Combining his family business of jewelry with smarts technology and VC experience at M.H.
Carnegie &co., he leaped fintech in 2014. He established Afterpay, as an online organisation
by offering innovative options of payment for customers to purchase now and pay later by
fortnightly interest-free payments. He has attracted 375000 customers and 2100 retail
merchants. He took the organisation in public in 2016, April. He listed the organisation with a
market capitalization of $123 million in the Australian Stock Exchange (Gorman, 2018). This
organisation offers a touch system platform that includes service related to protection from
fraud and digital payments. He has faced the challenge regarding the technical knowledge as
holds retail experience. He partnered with Touchgroup to process payments at large scale
(Mallisa, 2019).
Characteristics
Mike Cannon Brookes likes any relationship as it goes with ups and downs. He referred that
honesty is pretty high and needed according to the process of learning. Mike Cannon Brookes
referred that communication at high frequency is necessary to solve complexity. (Aminul,
2011) Explained that breadth of skill and experience are necessary to communicate
viewpoints within valued time. He has established a line to support staff with effective
communication to complete work fast. Mike Cannon Brookes has a trait of overlapping. He
has done with each aspect of a business from cleaning the bins to setting product strategy. As
a co-founder has gotten support from Scott Farquhar.
According to Ruslan Kogan, an entrepreneur should have the characteristic of the inventor.
The sense of inventor present that there is a need to possess the ability to look at the market
and generate something new and special to complete the things better than last. (Kaur &
Bains, 2013) Argued that it is necessary to invent new ways of a transaction with customers
or amenities, or products. Ruslan Kogan referred that there should be a characteristic of an
athlete. An athlete has a dedicated lifestyle and ensures success through hard work. Ruslan
Kogan has a quality of mentor as thinks differently and shared different ideas with
uniqueness. He did not point out a single decision. He made thousands of decisions in a
single day and focuses on the curve of learning as decisions are based on evidence and facts
rather than emotions.

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Nicholas Molnar has presented himself to the world as a risk-taker. It helps to increase a large
number of customers and attract the interest of customers as well. (Maisarah, 2013) Referred
that the risk of begin is an aggressive growth to focus on business. Nicholas Molnar is a
result-oriented worker as likes to work according to the situation and prepare a program to
complete work and focuses on sales and marketing with limitations. Nicholas Molnar has run
a function to listen to customers and deliver an exceptional service to the customer. He
referred that customers are the main advocates. This is important to develop a good range of
services. This should be consumer-centric as put their interest first. This is necessary to
innovate and evolve technology in the business regularly and update them according to time.
Preferable role model
I will prefer Ruslan Kogan as an entrepreneur. I am also a true innovator as holds interest in
technology and like to get success with hard work. Putting the customer first is a process that
delight customers in large number. The aim is to go above and beyond the expectations of
customers and serve the best by offering a product and service that constantly delight
customers. There should be a possibility within the organisation to offer maximum benefits to
customers compare to competitors and exceed the expectations of customers. I follow the
concept to not rely on formal education as an organisation in today's time moving very fast
according to technology. There should be a trait to learn things from many different sources.
This provides a good grounding to learn from each source. It is necessary to find suitable
information and apply to a particular situation. The most important trait is a passion for doing
the business. It helps me to present the dedication towards technology.
Competitive advantage is the most important and basic lesson for business. According to
Ruslan Kogan work relentlessly to flaunt it. This offers to know people everything about the
product and amenities. It is important to offer a particular product with a new sales channel
and put it center in ingredients of marketing. He gives credit to data for online retail success.
Accurate data and statistics are helpful to prepare for the actual needs and demand of
business model. These data provide an insight into customer’s needs. Analytical software
provides a page that shows a path to identify the business requirement and figure out the need
of customers. This helps to sell a better product than expectation and pour more into the
marketing of a product. The high cost of the product helps to find that sales are not pulling
and need to change the marketing of the product entirely.

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Risk is necessary for entrepreneurs to receive a large number of people. It is necessary to
come and see beyond the status quo as it presents different opportunities. I also refer to facts,
statistics, and figure out new ideas as it element level of risk and help to manage risk with
possible level. These characteristics are necessary for business practice and achieve success.
An entrepreneur can learn from the journey and put extra passion and desire to delight
customers with organisational benefits to increase sale. He supported and encouraged to take
a high risk as it helps to make organisation different from competitors. The fresh and new
perspective helps to provide the surety about the business approach by keeping customers in
mind.
Conclusion
The following report outline the biography, contribution and characteristics of entrepreneurs.
It refers that Mike Cannon Brookes is a co-founder of Atlassian business. Atlassian has many
points of reference for success in the worldwide sector of business. He referred to take the
toughest challenge globally to coordinate workflow. Organisation should make a product to
make teamwork easier in departments by continue to buoy tracking software. Departments
should enable and support technology to drive innovation and manage the increased number
of applications. According to Kogan, it is necessary to have the skills and traits to lead as a
global brand with product division. Continue execution of long term strategy helps to
enhance business and support to make the demand for product and amenities at a more
affordable price by better preparation for sales. According to Nicholas Molnar, it is very
important to have the nature and trait of buy now and pay later marketplace with an attitude
to invest early and get paid later attitude. It is necessary to have the platform of a national
phenomenon that enables to get cheaper deals with overseas online retailers. In the end, I
preferred Kogan as my role model because he refers that it is necessary to take the risk
according to time as it varies according to demands and important for the success of a
business.

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References
Aminul, I. M., 2011. Effect of Entrepreneur and Firm Characteristics. International Journal
of Business and Management, 06(03), p. 289.
Anderson, S., 2014. Platinum Speakers. [Online]
Available at: https://www.platinumspeakers.com.au/Speakers/Ruslan-Kogan.aspx
[Accessed 26 08 2019].
Azmat, F. & Zutshi, A., 2012. Entreprenure in Australia. Social Responsibility Journal,
08(01), pp. 63-76.
Farquhar, P., 2018. Business Insider Australia. [Online]
Available at: https://www.businessinsider.com.au/atlassian-co-founder-mike-cannon-
brookes-just-paid-up-to-100m-for-australias-most-expensive-house-2018-9
[Accessed 27 09 2019].
Gorman, P., 2018. Chiefexecutive. [Online]
Available at: https://chiefexecutive.net/qa-with-afterpays-millennial-ceo-nick-molnar/
[Accessed 26 08 2019].
Kaur, H. & Bains, A., 2013. The Concept of Entrepreneur Competency. Journal of Business
Management and Social Science Research, 11(02), pp. 31-33.
Maisarah, A., 2013. Characteristic of Entrepreneurs and The Practices. Journal of Social and
Development Science, 05(04), pp. 229-235.
Mallisa, A., 2019. Forbes.com. [Online]
Available at: https://www.forbes.com/profile/nick-molnar/#6f5e759f13f6
[Accessed 26 08 2019].
Wodak, R., 2011. Linguistcis Disclusure Analysis. International Journal of Business
Management, 22(11), pp. 50-69.
Zolin, R. & Schlosser, F., 2013. Characteristics of Entreprenures and Their Involvement in
International Ventures. Journal of Business Ethics, 55(03), pp. 271-284.