Entrepreneurial Mindset: A Report on Skills, Traits, and Influences

This report provides an overview of the entrepreneurial mindset, examining the skills and characteristics associated with successful entrepreneurs. It explores critical thinking, problem-solving, and decision-making as key traits. The report delves into the motivational drivers behind entrepreneurial endeavors, including the need for affiliation, financial gain, and personal growth. It discusses the importance of creativity and vision, as well as the debate on whether entrepreneurs are born or made. The influence of background and experience is illustrated through case studies of local, international, and social entrepreneurs such as Jenny Costa, Bill Gates, and Tamara Rajah. The report concludes with a discussion of how these entrepreneurs have influenced their business through their experiences. This report is a valuable resource for students, offering insights into the mindset and factors that contribute to entrepreneurial success.

THE MIND –SET OF THE
ENTREPRENEUR

Definition of entrepreneurial mind set
 • Entrepreneurial mindset is particular set of beliefs, understanding and thought
procedures that drives behavior of entrepreneurial.

Skills and characteristic traits of successful
entrepreneurs
 • Critical thinking
 • Problem solving
 • Decision making
 • Confidence level
 • Open minded
 Creative thinking

Differences between characteristic of
successful entrepreneurs and managers
Entrepreneurs Managers
 It can be said that skills, characteristic and other
aspects of successful entrepreneur is different
from managers. For example, businessman as
entrepreneur take decision for investing money
in other things.
 On the other hand, manager is not able to do
this because they do not have such authority.

Motivational drivers of successful
entrepreneurs
 • Need for affiliation
 • Need for money
 • Need for personal and professional growth.

Aspects of entrepreneurial personality
reflect entrepreneurial mind set and
motivation
 •Creativity is one of the important aspects that reflect mind set and motivation in
effective manner. It drives person towards developing their mind for making innovative
concepts or products.
 Another aspect is clear vision, that motivate individual to work much better than
before.

Nature or nurture: (are entrepreneurs
born or made)-
 •Entrepreneurs are made not born because every person learn from their own mistakes
and then apply learning into practical which in return make them successful
entrepreneurs.

How background and experience
influences entrepreneurs: local
entrepreneur
 Jenny Costa is a local entrepreneur in UK, she belongs to good family background that
influence her to make a successful business woman.

How background and experience influences
entrepreneurs: international entrepreneur
 Bill gates is an example of international entrepreneur, he influences
themselves by learning from his own experience, he made a lot of mistakes.

How background and experience influences
entrepreneurs: social entrepreneur
 Tamara Rajah is a social entrepreneur, she influences herself by background and
experience which she had. She belongs to good family, her parent support her to do
work by taking own decision.

REFERENCES
 Akhmetshin, E.M and et.al., 2019. Acquisition of entrepreneurial skills and
competences: Curriculum development and evaluation for higher education. Journal of
Entrepreneurship Education. 22(1). pp.1-12.
 Zhou, W and et.al., 2019. Pattern versus level: a new look at the personality-
entrepreneurship relationship. International Journal of Entrepreneurial Behavior &
Research.