Understanding the Entrepreneurial Mindset: Traits & Drivers

This essay delves into the entrepreneurial mindset, defining it as a state of mind that drives individuals toward entrepreneurial conduct, results, and practices. It highlights that individuals with this mindset are naturally inclined toward creativity, opportunities, and the development of new value. The essay outlines the key traits and skills of entrepreneurs, such as passion, innovative thinking, and confidence, using the example of Liz Wilson to illustrate these characteristics in action. It also examines the motivational drivers of successful entrepreneurs, including physiological, safety, love and belongingness, self-esteem, and self-actualization needs. Furthermore, the essay touches upon the differences between entrepreneurs and other business managers, provides examples of national, international, and social entrepreneurs, and explores how factors like personality, lifestyle, culture, and family upbringing are linked to entrepreneurial motivation and mindset. The conclusion emphasizes the importance of developing an entrepreneurial mindset, reiterating its role in approaching errors and challenges and driving creativity and new value development.

THE MINDSET OF THE
ENTREPRENEUR.

TABLE OF CONTENTS
 Introduction
 Characteristic traits and skills of entrepreneurs.
 Motivational drivers of successful entrepreneurs.
 Entrepreneurs different to other business managers
 Example of a national (local), international and social entrepreneur.
 How personality, lifestyle, culture and family upbringing amongst other factors are
linked to entrepreneurial motivation and mindset.
 Entrepreneurs are born or made
 Conclusion
 References.

INTRODUCTION
Entrepreneur mind set is described as the state of mind which
familiarises the person perform towards entrepreneurial conduct
towards results and practices. Moreover, this has been determined
that person who have entrepreneurial mind sets are essentially drawn
towards creativity, opportunities and new value development. In
general words, the particular concept states specific way to think
wherein person, approach errors and challenges.

CHARACTERISTIC TRAITS AND
SKILLS OF ENTREPRENEURS.
Entrepreneurs Characteristics Traits Skills
Liz Wilson Passion: This is one
of the most essential
characteristics that have
been hold by Liz Wilson.
With having a passion
she effectively stimulate
growth of the business
venture while ensuring
its long-term
sustainability. This
characteristic allows her
to accomplish corporate
goals overcome complex
and tensed situations in
a well effective manner.
Confident: This trait
is been successfully
possessed by Liz Wilson
that allows her to
effectively conducts
organizational activities
with high confidence.
Business venture in
which she operates
business is dynamic and
in this needs of
consumers dynamically
changes. With the help
of effective confidence
Liz undertake new ideas
that develops new
opportunities to ensure
maximum business
growth.
Innovative thinking:
This skill is most
essential and crucial
skill which Liz is having,
as it innovative thinking
direct her towards
fulfilling changing needs
and demands of
customers and fulfill
organizational targets in
effective manner. In
context with managers
of company, it has been
identified that they did
not have innovative
thinking skill as their
nature is to restrict any
change in organizational
structure

MOTIVATIONAL DRIVERS OF
SUCCESSFUL ENTREPRENEURS
There is different type of motivational drivers of a successful
entrepreneur. All the drivers is further define below in
descriptive manner
 Physiological needs
 Safety needs
 Love and Belongingness needs
 Self-esteem needs
 Self–actualisation needs

ENTREPRENEURS DIFFERENT TO OTHER BUSINESS MANAGERS

EXAMPLE OF A NATIONAL (LOCAL),
INTERNATIONAL AND SOCIAL
ENTREPRENEUR

HOW PERSONALITY, LIFESTYLE, CULTURE AND
FAMILY UPBRINGING AMONGST OTHER FACTORS
ARE LINKED TO ENTREPRENEURIAL MOTIVATION
AND MINDSET

ENTREPRENEURS ARE BORN OR
MADE

CONCLUSION
As per the above presentation, it has been concluded that it is vital
to develop the mind set of entrepreneurs. As Entrepreneur mind
set is described as the state of mind which familiarises the
person perform towards entrepreneurial conduct towards results
and practices. Moreover, this has been determined that person
who have entrepreneurial mind sets are essentially drawn
towards creativity, opportunities and new value development. In
general words, the particular concept states specific way to think
wherein person, approach errors and challenges.

REFERENCES.
 Bridge, S. and O'Neill, K., 2012. Understanding enterprise:
entrepreneurship and small business. Palgrave Macmillan.
 Choi, N. and Majumdar, S., 2014. Social entrepreneurship as an
essentially contested concept: Opening a new avenue for
systematic future research. Journal of business venturing.
29(3). pp.363-376.
 Chrisman, J. J. and et. al., 2012. Family involvement, family
influence, and family‐centered non‐economic goals in small
firms. Entrepreneurship theory and practice. 36(2). pp.267-293