Entrepreneurship perspective

How we would define “entrepreneurship mindset”? Simply, it has to be built based on need for achievement, so there should exist the hunger of success. Of course, it’s usually going in pair with individualism, where people wants to do things in defined by themselves way. Going further, control the world you are creating, focus on what is the most important to achieve your aims and optimism are final parts of mentioned mindset.

Next, lets discuss entrepreneurial motivation factors. There are free main items defining it. Self-efficacy is the key to do anything. Without that you could constantly trying to find the point, but still going around never touching it. Cognitive motivation is allowing you to go outside from the boring normal live, where you are keeping things which you know, so going to meet a new, to learn something new is really important. Finally, tolerance for ambiguity has own presence, just because without it would be extremely easy to fail. You could be distracted quickly meeting ambiguities one after the other, so you have to tolerate them and live with them.

Another interesting aspect to describe is risk, especially when we consider how differently perceive the risk entrepreneurs and corporate managers. For entrepreneurs, usually reward for taking this risk is significant whilst for traditional managers the reward is smaller, then taking the same risk into consideration means two different things for them. One could accept the risk having in mind further benefits, the second will just leave it as to risky because the value of doing it is smaller than risk he would gain.

That could raise a question, how can you improve your confidence level and risk tolerance? Simply, by engaging your stakeholders. Doing it in a right way allows you on gathering knowledge about their needs, experiences, constraints, etc, which makes you more confident about your business.


One thought on “Entrepreneurship perspective

  1. IMHO entrepreneurs are also injected with wild dose of failure-tolerance. Some people I know are trying over and over.

    You’re not doing any mistakes – you’re not learning fast enough (c) : )

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