Entrepreneurial Ventures and Entrepreneurial Mindset Analysis

This report provides a comprehensive overview of entrepreneurial ventures and the entrepreneurial mindset. It begins with an introduction to entrepreneurship and small business management, defining the core concepts. The report then delves into the various types of entrepreneurial ventures, including small business ventures, scalable startups, large company ventures, and social entrepreneurial ventures, highlighting their characteristics and differences. It further examines the significant impact of small businesses on the economy and community, focusing on their contributions to GDP, job creation, and local economic development. The report also explores the key aspects of an entrepreneurial mindset, detailing the essential characteristics and skills of successful entrepreneurs, such as motivation, creativity, and adaptability, while also considering the aspects of an entrepreneurial personality and how to foster entrepreneurship. The report concludes by summarizing the main points and providing references to the sources used.

Entrepreneurial Ventures and
Entrepreneurial Mindset

Table of Contents
INTRODUCTION...........................................................................................................................3
TYPES OF ENTREPRENEURIAL VENTURES..........................................................................3
Types of ventures.........................................................................................................................3
Similarities and differences between entrepreneurial ventures...................................................4
THE IMPACT OF SMALL BUSINESSES ON THE ECONOMY...............................................5
Impact of small business on economy and community...............................................................5
Role of small businesses in economy..........................................................................................6
THE KEY ASPECTS OF AN ENTREPRENEURIAL MINDSET................................................7
Characteristics and skills of successful entrepreneur..................................................................7
Aspects of entrepreneurial personality........................................................................................8
Foster entrepreneurship...............................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
The entire report focuses on Entrepreneurship and small business management. Entrepreneurship
is known to be the heart of every business. Every big company started by a small business which
is being run by an entrepreneur (Duchek, 2018). Entrepreneurship to the ability and capacity to
develop and organised a new business. In this report a company called FTI consultancy has been
mentioned. It is a consultancy firm and it’s headquarter is situated in London. They serve their
clients and also council of various practice areas such as merger and acquisition regulatory issue
and transaction services. This report provides detailed information about various types of
entrepreneur real Ventures and also it explains the difference between entrepreneurial Ventures.
This report also shows the impact of micro and small businesses on the economy of the country.
Statistics and skills of successful entrepreneur are also mentioned in this report.
TYPES OF ENTREPRENEURIAL VENTURES
Types of ventures
Entrepreneurial ventures are considered to be those techniques that will make an organisation
which is working in the pace of development to grow and to evolve with the characteristics that
are required for it to become one of the best business. The different ventures that fall in this
regard are as follows:
Small business entrepreneurial ventures: small business entrepreneurial ventures are those that
involve has the smallest conception and striving hard in order to move ahead with a growth that
can be attained with proper dedication and consistency (Jones and et.al, 2021). Since United
Kingdom is completely a home for all the entrepreneurial ventures therefore all the small
business as whether groceries or any kind of fabrication equipment is said to be evolving at
regular intervals of time. People everywhere are in an urge to get employment opportunities and
since this being one of the foremost requirement there are a lot of business opportunities that are
created. These small conceptions are regarded to be the small business entrepreneur venture
which has a scope of growing in the coming future.
Scalable startup entrepreneurial venture: the business of the dealing with the entrepreneur your
ideas or is coming up with any kind of new strategic approach towards a business policy then an
investor is required. For the ones that are moving ahead with scalable startup entrepreneurship
they are not just focus upon the investors that are in United Kingdom but they will also opened
doors for people all around the world who can contribute and can invest upon their venture. In

this type of ventures the management will focus on hiring people who are skilled and are
completely efficient towards working policies.
Large company entrepreneurial venture: mostly entrepreneurs are those that will come up with a
small venture because that is the initiation of their business term. Large companies are mostly
not into entrepreneurship but they have evolved by being an entrepreneur. The probable feature
of large company entrepreneurship ventures is that they invest upon the small kind of businesses
that are evolving and the try to focus upon incorporating different business thoughts and
ideologies which are required for them to modify their structure (Jones and et.al, 2021).
Social entrepreneurial venture: the social entrepreneurial venture is the one that will focus upon
the major assets of the organisation and those are highlighted like that of goods and services. The
major objective of this particular entrepreneurial venture is that they move ahead with a
favourable means of promoting a healthy business environment that is necessary by distributing
the required goods that are in need for the organisations. By focusing upon the needs of
businesses that try to generate revenue and in return they are also satisfying the customer
demands which can be profitable for the organisation.
Similarities and differences between entrepreneurial ventures
Similarities: when it comes to entrepreneurship their effect to be different similarities at will fall
in regard to the entrepreneurs what are operating in and around the world. Although the field in
which the entrepreneur is operating or is developing might differ but certain aspects will go
inside and are also similar at instances. The opinions as well as the perception smite vary but the
vision for that enthusiasm to achieve things is said to be one of the similar aspect for all the
entrepreneurs. There is a definition with regard to entrepreneurship that can easily be seen in the
things that are being achieved by people who are into business (Ahl and Marlow, 2021).
Generating a value through the entrepreneurial thoughts and actions will be same with regard to
every entrepreneur are because they are in a hassle to move ahead with the policy of
development and that can only be achieved if their values as well as ethics are similar. Every
entrepreneur in their business tenure of the values that they incorporate will focus upon
innovation. Innovation is regarded to be one of the first and foremost policy that is being
incorporated by every entrepreneur your now and then such that they can attend a growth
prospect in no time. For this particularly focus upon all the means that are happening in the
world in that particular scenario and try to incorporate the same in their business operations. This

is same with regard to everyone and majority of people will drive growth in no time with the
strategies they follow.
Differences: similarities are easily portrayed whereas differences cannot be identified unless and
until they are particular about the variations that are being tackled by different entrepreneurs to
stop moving ahead with the policy of differentiating the beliefs as well as the moves that are
being taken by entrepreneur as it varies in making profits. All the entrepreneur ears are having
same zeal and enthusiasm yet only few can achieve the mark of attaining profits (Smith and et.al,
2020). The value that is generated by their idea and their potential is said to be a varied form
when it comes to profitable aspects with which the move ahead. There are many entrepreneur
ideas that will enter into the race at the same time but only few were the simple ideologies and
the initiation that is done in a proper basis will get to reach the point where they incorporate
every aspect for our long run. Entrepreneurship is all about the initial capital. Some might be
good at attaining their capital whereas others might take a lot more time to get their investors.
The ones that are able to succeed in finding their investors will turn to be implementing the
policies that are necessary to initiate challenges. They are also first in the race where as the ones
that are behind in finding investors will probably not attain the results in the same time. The time
frame with regard to every aspect will vary when it is dealt with their finances. One more
difference with regard to entrepreneurs will lie around their ideology. Some might be dealing
with fields that are hectic while the others might opt for the ones that will go on a cakewalk. The
ideology as well as the perception will also determine the standard of entrepreneurs.
THE IMPACT OF SMALL BUSINESSES ON THE ECONOMY
Impact of small business on economy and community
Small businesses on over less when compared to that of the standards that are being maintained
by large businesses upon contributing to economy. Small businesses will leave an impact over
the entire economic condition by an adjustment in the standards and revenue but also by creating
lot of opportunities that are required for employment purposes.
GDP impact: small businesses are not included in creating a good amount of revenue but their
contribution is regarded to be immense in maintaining the competition levels which is necessary
for organisations to move ahead with the policy of innovation (Outsios and Farooqi, 2017).
Job impact: job in practice set to be more when it comes to small businesses as compared to the
large businesses. Small businesses or more oriented in developing their organisation as well as

their policies and therefore they look after the recruitment in a more enormous weight and open
door for skilled people other than showing partial importance.
Local Impact: local economy can get impacted over a large basis because they operations of the
business is taking up in a local basis. That there will be a lot of support from the people as well
as the community in which this organisation is moving ahead. For an impact that is to be created
by the small entrepreneurs in this local business travel have to move ahead and recruiting people
who are facing an employment issues.
Role of small businesses in economy
Small businesses are said to be the greater contributes for economy. Economy of every
organisation of a country will be dependent upon certain factors and in the sector of business it is
said to be one of those orientation that are being tackled by the startups as well as the small
businesses every now and then. There is a major role that is being played by small business in
terms of economy. The spark innovation with which the business as usually develop will bring
about lot of patents that will generate the amount of revenue which has exceptionally good.
Small businesses decision making is set to be comparatively very strong when compared to that
of large businesses. In the pace of development they will focus upon how far they can improve
their growth as well as the social economy and therefore they usually create more number of jobs
than any other large business (Puangpronpitag, 2019). Every small business in the world is
working up on different aspects like that of employment as well as increasing the number of
sales for the existing organisation such that the objectives can be met in no time. The opportunity
that have been created by the small businesses is set to be immense and therefore there are set of
groups that get benefited from the opportunities that are given by small businesses. There is a
financial liberty and the usage of resources is also minimum such that there is no wastage of
resources and that tend to utilise the money for great initiation. By improving the local
communities and seeking their help in to moving ahead with implementations the small
businesses are in an aim of expanding their choices all through the community. Small businesses
usually help communities to stand economically and in return they seek help from them by
creating a greater entrepreneurial culture.

THE KEY ASPECTS OF AN ENTREPRENEURIAL MINDSET
Characteristics and skills of successful entrepreneur
Entrepreneurs must have some skills and characteristics which make them successful and when
the entrepreneur or have all the skills that they can produce quality production services through
which they can win the hearts of consumer. Their business can grow only when the entrepreneur
have all the skills and traits.
Motivation
Those entrepreneurs who are hardworking and motivated the main lead their business towards
the success. When the entrepreneur is motivated then it will motivate Their employees as well so
that employees can put their efforts to make the business successful. Motivation states that when
the owner is motivated then they will show positive attitude towards the each and every day of
work and when the entrepreneur is motivated then it will bring motivation to the Employees as
well and they will also work passionately.
Creativity
This is another skill why should we there in the entrepreneurs. When the entrepreneur is creative
then they will always think out of the box and bring new ideas and suggestions to the
organisation so that organisation can produce more quality products and services and give tough
competition to other companies.
Vision
Successful entrepreneurs always work hard and keep their eye on the big picture of the business
because this ability makes them a successful entrepreneur (Huang and et.al 2018). Vision is all
about strategic planning when organisation has proper vision then they can work accurately and
employees also know the objective and vision so that they may to obtain the vision of the
organisation.
Versatility
This is also the key characteristics of a successful entrepreneur that they must adopt change in
the organisation. It is very necessary for the organisation that the most adopt change because the
preference and choices of customers gets changed every day and therefore there always look for
new and innovative products and services so it is the responsibility of successful entrepreneur
that they must choose versatility in their organisation.
Ability to network

Successful entrepreneur must have ability to connect with other people and also other
organisations that they business can get the opportunity and become. Successful entrepreneur
must have good communication skills and convincing power so that they may easily convince
people and also they must fulfil the needs of their customers. Apart from this successful
entrepreneur must have proper knowledge about market and also they must provide such kind of
product services which differentiate their company with their competitors.
Aspects of entrepreneurial personality
Entrepreneur always have a positive attitude towards the work which brings motivation to other
person as well. Successful entrepreneurs always become and motivation for other people and
especially for those who wants to start their business. As always have positive and creative mind
set therefore they do not get a friend from various challenges and they accept each and every
situation positively (Ladge and et.al 2019). The way of looking things is different of a successful
entrepreneur as compared to other people. This is the major reason therefore they become
successful. Apart from this successful entrepreneur always bring motivation and encouragement
to their employees that they can produce quality products and work within the organisation
which makes that our Organisation was successful. Along with this successful entrepreneur
always have a desire to go ahead and the Never stop them by achieving their each and every
goal. This is the reason they become inspiration for other people. Along with this entrepreneurs
who becomes successful they must have good convincing skills and therefore they can easily
convince other people and client is well which makes them successful from this is skills that can
motivate other people as well. Along with this vision is always positive towards the success.
Successful entrepreneur can become a motivation for other people and also they can transform
and ordinary people into the successful Businessman by positive mind set. Entrepreneurs always
provide good vision to others as well and specially for those who wants to start their own
business their story motivate them because every Entrepreneur who become successful they may
have face difficult situations in their entire journey. But the thing is that how they overcome such
a difficult situation and become a successful but the thing is that how they overcome such a
difficult situation and become a successful businessman. Another quality of an successful
entrepreneur is that they always expressed appreciation and contribution of their workers and
employees. This thing should be learnt by other Businessman as well because when the owner
Express appreciation of their employees and whatever they have worked and value their work

this brings encouragement and motivation in the employees as well and they can perform better
job and work. Successful entrepreneur create their own destiny and become a motivation for
other people as well.
THE DIFFERENT ENVIRONMENTS THAT FOSTER OR HINDER
ENTREPRENEURSHIP
Foster entrepreneurship
Some successful entrepreneurs create history for others and their story can easily motivate other
people. David and Simon Reuben they are the successful and famous entrepreneurs of Britain.
They were having keen interest and property and they want to create some venture in property
only. As they are known to be self made billionaire. The invested the entire earning in property
in various metals like aluminium and copper (Lalitha, and et.al 2021). At the early phase of their
story they faced loss. Their invested amount as well because they were not having profit and
their entire investment get vanished. But that do not lose hope and start making more investment
in the property only because they were having keen interest and property and did not lose that
confidence and motivation result they invested more money in real estate and also the prestigious
commercial properties of London and this time they are lots of profit and they make their dream
come true. So by this story it can be seen that entrepreneurs never lose hope and confidence.
They always follow their passion and do not get divert from there and goal. From their story it
can be seen that entrepreneurs have to face a lot of problems when the rate is related to decision
making because their decisions can be wrong and the main face loss. But they do not get the
motivation from this and they again make new decisions which provide them profit in the long
run. One of the biggest challenge which every entrepreneur faces is the availability of fund and
sources of fund because entrepreneur need to invest money in the business and for that they need
huge fund. Entrepreneur has to do lot of struggle to meet the need of fund. Then only they can
make further investment (Price and et.al 2017). Apart from this, in this case study entrepreneur
has faced issue of find they were not having a temple of points of the decade invest in property
because the prices of property and various instruments and very high and therefore entrepreneurs
has to work a lot to earn money and after when they get the money they invested but they have to
face loss. Apart from having Rose they do not stop themselves and their started for the
investment and at the end the get success. So bye there stood story they motivate other people as

well because everyone has to face challenges in their journey but a successful entrepreneur never
lose their dream and they continue follow their passion. This attitude makes them successful.
CONCLUSION
From the above report it can be concluded that this report provides different types of
entrepreneurial Ventures. Apart from this various similarities and differences among
entrepreneurial venture is also being mentioned in this report. This report also provides all the
relevant in statistical data to illustrate that how micro and small business can impact the overall
economy of the country and how this is small businesses are important for the economy. Along
with this the importance of small business and start-up in the growth of social economy is also
mentioned in this report. Different skills and characteristics of successful entrepreneur is also
being mentioned in this report. How entrepreneurs can motivate others is also defined in this
report.

REFERENCES
Books and journals
Ahl and Marlow, 2021. Exploring the false promise of entrepreneurship through a postfeminist
critique of the enterprise policy discourse in Sweden and the UK. Human relations. 74(1).
pp.41-68.
Duchek, S., 2018. Entrepreneurial resilience: a biographical analysis of successful entrepreneurs.
International Entrepreneurship and Management Journal. 14(2).pp.429-455.
Huang, K., Brooks, A.W., Buell, R.W., Hall, B.J. and Huang, L., 2018. Mitigating malicious
envy: Why successful individuals should reveal their failures.
Jones and et.al, 2021. An exploration of the role and contribution of entrepreneurship centres in
UK higher education institutions. Journal of Small Business and Enterprise Development.
Ladge, J., Eddleston, K.A. and Sugiyama, K., 2019. Am I an entrepreneur? How imposter fears
hinder women entrepreneurs’ business growth. Business Horizons.62(5). pp.615-624.
Lalitha, C. and Parvathi, V., 2021. A SUCCESS STORY OF WOMEN ENTREPRENEUR AT
GARAGE: AN ICON OF INSPIRATION. PalArch's Journal of Archaeology of
Egypt/Egyptology.18(6).pp.147-151.
Outsios and Farooqi, 2017. Gender in sustainable entrepreneurship: Evidence from the UK.
Gender in Management: An International Journal.
Price Schultz, C.J. and Jones, M., 2017. You can’t do that! A case study of rural and urban media
entrepreneur experience. International Journal on Media Management.19(1). pp.11-28.
Puangpronpitag, 2019. Triple Helix Model and Knowledge-Based Entrepreneurship in Regional
Engagement: A Case Study of Thai and UK Universities. Procedia Computer Science. 158.
pp.565-572.
Smith and et.al, 2020. Documenting 2 the Role of UK Agricultural Colleges in Propagating the
Farming-Dyslexia-Entrepreneurship Nexus. Entrepreneurship, Dyslexia, and Education:
Research, Principles, and Practice, p.37.
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