What is an Entrepreneurial Mindset and Why Do I Need One?

Whether you choose to be an entrepreneur or you choose to be a doctor, nurse, accountant, or teacher, your mindset is important. Thinking like an entrepreneur and having a mindset that is resilient, accountable, flexible, creative, adaptive, and ready to take initiative will make you a desirable employee, excellent manager, and leader that people want to follow.

At Y-kampus, we provide training for students who want to be entrepreneurs. But we know that entrepreneurship isn’t for everyone, so the second – and just as important – pillar of our vision is to cultivate entrepreneurial-minded people. While we train entrepreneurs, we also train entrepreneurial mindset.

Wait, hold up. That sounds like a whole lot of jargon – what does “entrepreneurial mindset” even mean?

The Network for Teaching Entrepreneurship defines the entrepreneurial mindset as the set of attitudes, skills and behaviors that students need to succeed academically, personally and professionally. These include:  initiative and self-direction, risk-taking, flexibility and adaptability, creativity and innovation, critical thinking and problem solving. Other definitions include the ability to see opportunities, marshal resources and create value. (Michigan State University)

This is an excellent definition. It is also pretty vague!

Here are some examples of what characteristics, outlooks, or personality traits you might exhibit if you have an entrepreneurial mindset in action:

  1. You take action

  2. You’re scared

  3. You’re resourceful

  4. You obsess over cashflow

  5. You don’t ask for permission

  6. You’re fearless

  7. You welcome change

  8. You love a challenge

  9. You consider yourself an outsider

  10. You recover quickly

  11. You listen

  12. You focus on what matters (when you figure out what matters)

(Entrepreneur., 12 Signs You Have an Entrepreneurial Mindset)

Now, we’re not saying that you must have all of these characteristics to be an entrepreneur. No, not at all. It isn’t a formula, there isn’t one right way.

What we are saying is this: the way you think is SO important.

Yes, skills are important. Absolutely, 100%. That is why you go to school, work in teams, play sports, have hobbies. Yes. But without the correct mindset, that is all your skills are – just skills. In every Y-kampus course, you will learn valuable knowledge and skills that will support you in your career. But beneath the surface, through the methodology and assignments, we are intentionally providing opportunities for you to build your entrepreneurial mindset.

Whether you choose to be an entrepreneur or you choose to be a doctor, nurse, accountant, or teacher, your mindset is important. Thinking like an entrepreneur and having a mindset that is resilient, accountable, flexible, creative, adaptive, and ready to take initiative will make you a desirable employee, excellent manager, and leader that people want to follow.

Want more practical ways to practice an entrepreneurial mindset? Check back next week for 7 tips!

Not soon enough? Visit Y-kampus to explore courses and events that will help you develop an entrepreneurial mindset!

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