WEST VISAYAS STATE UNIVERSITY

Brgy. Caradio-an, Himamaylan City, Negros Occidental

_____________________________________________________________________________________

THE
ENTREPRENURIAL
MIND

Submitted to:

LORD IVAN PANCHO

Course Instructor

Submitted by:

LOUISE ANN L. BERSAMIN

BEEd 3A

Activity 1
Try to answer the following questions based on your opinion.

 What is entrepreneurship and how does it affect the lives of the people?

 Entrepreneurship is the process of designing, launching and running a new

business, which is often initially a small business. The people who create these
businesses are called entrepreneurs. Entrepreneurship has been described as the
“capacity and, willingness to develop, organize and manage a business venture
along with any of its risks in order to make a profit. Being an entrepreneur
means a lot more perceived freedom, with a lot less freedom. Since success
largely rests on our shoulders, being an entrepreneur can impact our social life,
both in networking (a positive) and by being invasive in our personal and
family life (work is 24/7). Becoming an entrepreneur is life changing in every
aspect. If you’re unsatisfied working for someone else, the satisfaction of
running your own business is like nothing else. We often think of entrepreneurs
as larger-than-life characters. They take big risks. They make their own rules.
They innovate and experiment, questioning things everybody else takes for
granted. Great entrepreneurs have the ability to change the way we live and
work, on local and national bases. If successful, their innovations may improve
standards of living, and in addition to creating wealth with entrepreneurial
ventures, they also create jobs and contribute to a growing economy.

 As an entrepreneur, what would be your contribution to the economic sector?


Entrepreneurs create employment opportunities not only for themselves but for
others as well. Entrepreneurial activities may influence a country’s economic
performance by bringing new products, methods, and production processes to
the market and by boosting productivity and competition more broadly. The
most important contribution of entrepreneurs in the Philippines is the provision
of goods and services- food, public transport, drugs/medicines, etc to meet
market demand. These entrepreneurs are risk-takers- they invest their own
money to produce goods and services, with the hope that they will recoup their
investments and earn a profit. Here’s my example, entrepreneurs build a
business. Entrepreneurs hire people for the business. Entrepreneurs compensate
the people working for him/her. People working for the entrepreneur now have
money for purchasing and consumption. Entrepreneurs and people working for
the business pay taxes to the government. Government now has revenues from
taxes and now has money to fund project that will be for the benefit of the
people. In order to execute the project they will purchase materials for
construction or technology from the businesses who supply them. This may not
be a concrete example but I hope I painted of how entrepreneurs contribute the
economy.
 Explain the concept that entrepreneurs are innovators.
  The entrepreneurs are creator and innovator because they continuous to make
some changes or creations in his business, like production of a new
commodity, new technologies of production, new machinery, and equipment,
the new raw material for searching of new resources of semi-finished
commodities, new management system, new organizational setup new markets,
etc. The entrepreneur as an innovator may perform social obligations and may
provide satisfaction by creating new values, activities, and utilities also. As an
entrepreneur, you are also an innovator because you must innovate if you want
to succeed.

Study the following cases and answer the questions after each case on another sheet of paper.
Case Exercises.
Salmah and I are getting old and I want to retire. It has been 42 years of fun but these old hands need
a rest. In short, Salmah and I would like you to buy the business. We both feel that your heart is in this
craft and that you would always retain the quality that we have stood for." Awang was taken back by the
offer. He, of course, knew Daud was getting older, but had no idea Daud would retire. Awang and his
wife, Timah, had only RM4,200 in the bank. Most overawing’s salary went for the normal costs of
rearing three children. Daud knew Awang did not have the money to buy the business in cash, but he was
willing to take a portion of the profits for the next 15 years and a modest initial investment from Awang.
Awang had, for the past four years, made most of the technical decisions in the shop. Awang knew the
customers and was well respected by the employees. He had never been involved in the business side of
the operation. He was a high school graduate but had never taken business courses. Awang was told by
Daud that even after deducting the percentage of the profits he would owe under the sales agreement, he
would be able to almost double his annual earnings. Awang would have to take on all the business
functions himself because Timah had no business training either.

QUESTIONS:

A. Which entrepreneurial characteristics does Awang have that may be important to his
success?

 Passionate and Focused

Awang have passionate and focused characteristic that will be important to his
success. We can see from that case that Awang had very a positive attitude about learning
and displayed a drive for perfection that Daud admired and always retain the quality that
Awang and Daud have stood for. Passion may be the most important trait of the
successful entrepreneur. They genuinely love what they do and are willing to put in the
extra hours to make their business grow. They get a sense of satisfaction from their work
that goes beyond making money.

B. Which characteristics could lead to Awang’s failure?

I think self doubt and afraid to take risk characteristics could lead Awang’s failure. Awang
already have a good characteristic like passionate and focused, creative, innovative, and
leadership, but if he has hesitancy for himself the business will not grow or enlarge properly.

Case Exercise 2
 Ali and Nor are spouses and partners in a business called "Segalanya Bendera." They made and
sold a variety of national flags in various shapes. About 40 percent of their total revenues came from a
single wholesale retailer, GM Kuala Lumpur, the largest wholesale plaza in Malaysia. When Ali and
Nor started their company, their son's classmate's father was a senior buyer at GM. The buyer, Yusuf,
encouraged Ali and Nor to submit a bid to GM and he helped the couple establish the relationship that
led to subsequent recurring sales at the retailer. Yusuf's wife, Sarah was the head of the school's PIBG and
in charge for fund raising. Without Yusuf's asking, Ali and Nor started contributing significant sums of
money to the PIBG. Yusuf never discouraged them from contributing. In a cost cutting move, Yusuf was
laid off from GM and in his place, Bakar became the buyer who interacted with Ali and Nor. Bakar hinted
to them that there were other vendors willing to supply flags at a lower price but that if they would
contribute to there building of his (Bakar) community's softball park, they would continue to sell their
product at GM. Ali and Nor are spouses and partners in a business called "Segalanya Bendera." They
made andsold a variety of national flags in various shapes. About 40 percent of their total revenues
camefrom a single wholesale retailer, GM Kuala Lumpur, the largest wholesale plaza in
Malaysia.When Ali and Nor started their company, their son's classmate's father was a senior buyer at
GM.The buyer, Yusuf, encouraged Ali and Nor to submit a bid to GM and he helped the
coupleestablish the relationship that led to subsequent recurring sales at the retailer. Yusuf's wife,
Sarahwas the head of the school's PIBG and in charge for fund raising. Without Yusuf's asking, Aliand
Nor started contributing significant sums of money to the PIBG. Yusuf never discouragedthem from
contributing. In a cost cutting move, Yusuf was laid off from GM and in his place,Bakar became the
buyer who interacted with Ali and Nor. Bakar hinted to them that there wereother vendors willing to
supply flags ata lower price but that if they would contribute to therebuilding of his (Bakar) community's
softball park, they would continue to sell their product at GM.

A. Did Ali and Nor act ethically in contributing to the school's PIBG?
 No, Ali and Nor do not act ethically in contributing to the school’s PIBG because they both
violate the ethics of business.

B. If they agree to pay for the community park in exchange for business from Bakar, would Ali
and Nor have acted ethically?


C. Contributing to a PIBG and donating to build a community park are civic actions. Could Ali
and Nor NOT be considered good actions because they indicate social responsibility?

KODAK: An intrapreneurship case

 Steven Sasson is working for Kodak; a business organization involve in digital technology
industry (an industry where innovation is abundant and cannot be avoided). During that time, Kodak
believes that they will take the market lead forever with their current product offerings. On this eve, Mr.
Sasson presented to the board his invention of digital camera. Kodak’s executives are quickly to assess
this kind of technology. Unfortunately, due to their belief of status quo, the executives perceive the idea
of Mr. Sasson as threat rather than an opportunity to introduce it to the market. In 2012, in disbelief,
Kodak file for bankruptcy because they are not fully equipped with enough armaments to join the ‘market
war’ of digital technology.

 What are your thoughts about this case?

 A generation ago, a “Kodak moment” meant something that was worth saving
and savouring. Today, the term increasingly serves as a corporate bogeyman
that warns executives of the need to stand up and respond when disruptive
developments encroach on their market. Unfortunately, as time marches on the
subtleties of what actually happened to Eastman Kodak are being forgotten,
leading executives to draw the wrong conclusions from its struggles. The
lesson of KODAK is that innovation is just hard stuff, and that even an
insightful company can go wrong if it doesn’t push far enough, fast enough
into uncomfortable territory. The right lessons from Kodak are subtle.
Companies often see the disruptive forces affecting their industry. They
frequently divert sufficient resources to participate in emerging markets. Their
failure is usually an inability to truly embrace the new business models the
disruptive changes opens up. Kodak created a digital camera, invested in the
technology, and even understood that photos would be shared online. Where
they failed was in realizing that online photo sharing was the new business, not
just a way to expand the printing business. Kodak remains a sad story of
potential lost. The American icon had the talent, the money, and even the
foresight to make the transition. Instead it ended up the victim of the
aftershocks of a disruptive change. Learn the right lessons, and you can avoid
its fate.

Reflect!
1. As an aspiring entrepreneur, you need to review where you are now. Is your attitude
still applicable to the current situation? Is there a need for revision or change in attitude?

Being an entrepreneur should not be just about making money, but also making a
difference. It should be about making life better not only for ourselves, but for others as
well. Being a successful entrepreneur means more than starting new ventures every other
day. It means the right attitude towards a business and the determination and grit to
achieve success. A successful entrepreneur has a strong inner drive that helps him or her
to succeed. An entrepreneur should be excited by the prospect of work. We should
always have a strong drive to succeed and overcome obstacles. We should not only set
big goals for ourselves but also see that we are actually committed to achieving them
regardless of the countless setbacks that occur. A successful entrepreneur always has a
strong sense of self-confidence and a healthy opinion of their skills and abilities. Our
personality is assertive and strong. We are always focused and do not really dilly dally
with the issues at hand. This is what makes us different from the rest.
An entrepreneur should always be on the lookout for new innovations and ideas in order
to emerge as a winner. We should constantly reinvent themselves and think of better
ways to run a business and improvise on the products and services offered by us. Another
important quality of a successful entrepreneur is openness in adopting change. We should
not be headstrong and stubborn when it comes to choosing other options. Change is the
only thing that is constant in business no one can make any profits on age old methods.

The path to success lies in evolution, whether it is evolution of ideas, services and
products or technology. An entrepreneur should have an open mind and eagerness to
learn new things. It is imperative to understand that the only way to keep at the top is to
keep on changing and evolving with the time. An entrepreneur should be aware of the
latest service techniques and technology in order to serve the clients in a better way.
Competition should never scare an entrepreneur. In fact, competition is what a successful
entrepreneur thrives on. Monopoly is never a good thing. This is because in monopoly
there is no scope for improvisation or change. An entrepreneur should be highly energetic
and motivated. He or she should always be on the go. At the same time, the commitment
levels have to be pretty high. Only when a person is motivated can he do justice to his
line of work. Accepting rejection or constructive criticism can go a long way in making
an entrepreneur successful. Criticism shows what he or she is not doing properly or
where change is needed. However, it must be remembered that accepting criticism is a
very important way of getting success. This is because a person will then be aware of the
shortcomings of his business and accordingly make amends. Hence accepting criticism is
actually a good way of improvising. Passion, resourcefulness, willingness to improvise
and listen to others and strong determination to succeed is what makes an entrepreneur
successful. And this is what you have to keep in mind as well if you want to be a
successful entrepreneur yourself. Everybody want to be “successful entreprenuer” but
what makes them successful is a mystery of their mind. To have a meaningful life, we
need to be part of the lives of others by sharing what we have. For entrepreneurs, part of
their success is being able to extend their hands to others who dream of making a
 difference. It is like being the vessel of hope and encouragement to aspiring
entrepreneurs.

2. Are you still doing things in accordance with your established goals and objectives?

Our daily workload often comes to us at a never-ending pace, and the tasks are usually posed as
urgent and important, but life is about more than just fighting the daily workload. To achieve
your dreams, you have to work on your plan and priorities instead through goal setting. Goals
are the most important part of the plan, describing what you want to achieve. They also provide
focus because once you have a clear target in mind, you can rededicate yourself and confidently
neglect ideas that aren’t contributing to your success. Every individual or organization should
have a vision as well, a set of dreams and big or audacious long-term goals that provide a solid
base for the goals you set. Your vision inspires you and gives you energy, guides you and gives
all efforts a purpose. It connects goals with your deepest motivations and purpose .Goals big and
small can be the stepping-stones to a happier life and the way we set them can make a difference
to achieving them. Having goals for things we want to do and working towards them is an
important part of being human. The path towards our goals may not always run smoothly or be
easy, but having goals, whether big or small, is part of what makes life good. It gives us a sense
of meaning and purpose, points us in the direction we want to go and gets us interested and
engaged, all of which are good for our overall happiness.
Which student organization do you belong? Why did you register for membership? What
do you think are the benefits of being a member of your organization?

 I belong to YOUTH EDUCATORS LEAGUE (YEL) student organization which

composed of BEEd students of West Visayas State University- HCC. I am a member of
this organization because I want to experience those responsibility and obligations as we
conducted our “Adopt A School Program” outside the campus. An effective member of
an organization displays certain behaviors and characteristics that are necessary for
success. Effective members usually possess the ability to communicate well with other
members, take the lead, generate solution-oriented ideas and work efficiently to put
those ideas into action. Their effectiveness often leads to more opportunities in the
organization as well as more respect from other members. Joining a student organization
presents many opportunities to learn more about yourself, your goals, and your strengths.
You can learn from how other students handle certain situations and test your current
knowledge. You can also find out what you’re good at, whether that’s multitasking,
staying organized, generating ideas, or serving others. This self-awareness will be
beneficial in your future career. Participating in a club or an organization based around
your particular area of study will give you practical experience within that field. And
what’s great about student clubs is that while you learn to use skills like project
management, event planning, and fundraising, you get to test them out in a safe
environment where making mistakes is OK. Everyone is there to support you, so there’s
no fear in messing up or being wrong. Chances are, the organization you choose to
participate in will include a diverse group of people- you’ll be faced with the same
situation in the working world. Learning how different people respond and react to
certain situations will help you develop your skills in presenting and implementing ideas.
Student organizations have a lot to offer. Whether you join as a member or choose to lead
one, simply taking part in an extracurricular group will enhance your school experience.
Gaining skills, making connections, and broadening your knowledge through a student
organization will help you become a more well-rounded individual — one that’s ready to
take on their future career.
Inspire Yourself!

Research for more successful entrepreneurs both international and domestic one. Study
their philosophies and beliefs. Keywords Index: This section is provided for you to list
down all the keywords and vital terms. This also includes all important ideas and concepts
that you can use for your review for the upcoming examination.

 Rajo Laurel
World-renowned fashion designer Rajo Laurel says his love affair with fashion started when he
was 11. "I often daydreamed about beautiful women drifting by, dressed in elegant gowns made
from rich fabrics... these daydreams would end up in notebooks," Laurel tells Entrepreneur
Philippines. Rajo Laurel Enterprises has built multiple brands and crafted clothing lines to dress
the country's elite, and has landed him the cover of US fashion magazine Women's Wear
Daily for his "cobweb" dress. To date, his muses include some of the most prominent local
personalities, including former presidents Corazon Aquino and Gloria Macapagal Arroyo.

 George Yang
"You have to think thrice before going into this business," master McDonald's franchisee
George Yang tells Entrepreneur. It took him five years to convince the All-American hamburger
chain to do business in Manila, and competition was fierce when he finally opened the first
McDonald's branch in 1981. After all, he had to introduce the global brand to a local market that
already had a long-standing favorite fast food chain. Yang says it wasn't easy, but with the help
of his son, Golden Arches president and CEO Kenneth Yang, the Filipino-Chinese entrepreneur
says the key to his success was adapting to the local culture.

 Ben Chan
Retail mogul Ben Chan founded Bench with the intention of improving the quality of Manila's
retail scene. Chan credits the clothing line's success to a number of things: being picky about
celebrity endorsers, having an adventurous attitude in advertising, and making a lot of mistakes
along the way. "Sometimes it's just a matter of the market not being ready," Chan
tells Entrepreneur. "Other times we just didn't get it right. I look at these trials as lab work: you
can't expect to get the perfect formula on the first try, but then you're also smarter about what
doesn't work and you know better the next time."

 Jose Concepcion Jr.

Concepcion is the chairman of RFM Corp., one of the leading food and beverage conglomerates
in the Philippines. Established in 1958 as the Republic Flour Mills, the company has delved into
agriculture, poultry, livestock, soft drinks, ice cream, fruit juice, and noodle manufacturing,
among other things. Concepcion is the father of eight entrepreneurs, all of which were groomed
by him. In his Entrepreneur interview, the food and beverage tycoon emphasizes the need to
properly train the young so they develop the leadership skills necessary to run a business. "You
don’t wait until you die before turning over the reigns," he says.

 Edgar Sia – Mang Inasal

Hailing from Iloilo City, Edgar Sia dropped out of college to pursue his own laundry and photo-
developing business at the age of 19. In 2003, 26-year old Sia decided to open the barbecue fast
food restaurant Mang Inasal—Ilonggo for “Mr. Barbecue.” The first branch was built at a mall
parking lot in his home city. The restaurant took off. When Tony Caktiong heard about Sia’s
burgeoning business, he decided to buy Mang Inasal for a total of P5 billion. Sia eventually put the
sales of Mang Inasal to other investments like banking and healthcare. At 42, he’s considered the
country’s youngest billionaire.

 Cresida Tueres – Greenwich Pizza

In 1971, Cresida Tueres started Greenwich as a small over-the-counter pizza store in Greenhills.
Tueres had a knack for cooking. Her friends loved the food she served so much that they decided
to buy their own Greenwich franchise. Impressed with Tueres’s business acumen and the growth
of Greenwich, Jollibee Foods Corporation obtained a deal in 1994 to acquire 80% of Greenwich’s
shareholding. Since then, the pizza parlor branched out to include other dishes in its menu. In 1997,
Greenwich had a record sale of P1 billion.

 Jeff Bezos – $84.3 billion

For a few weeks this year, Jeff Bezos became the world’s richest man. The Amazon founder is
now holding steady at number two and is one of the youngest men on this list at 53 (obviously
barring Zuckerberg). He founded Amazon just over two decades ago, and it is now one of the
most valuable and most successful companies in the world. Bezos’ critical piece of advice to
anyone starting a business is to be a missionary (someone who loves and builds their customers
and product or service) as opposed to a mercenary (someone who is obsessed with selling their
company). In the long run, he believes that the missionary always beats out the mercenary in
building a successful company. So, in short, make sure you love your customers and business
and are prepared to build them up.

 Warren Buffet – $80.5 billion

Warren Buffet is arguably one of the world’s most public investors, what’s lesser known is that
especially in his younger years he built up many businesses, from vending machines to sofas,
before buying into Berkshire Hathaway. He still also owns many of these companies today!
His advice for entrepreneurs is to simply have fun. He is famous for saying “at 85, I tap and
dance to work every day”.
His main message here is enjoy what you do and have a passion for it, in his words, “there’s
nothing like it”. For him, this is one of the key factors to being successful in any business.

 Amancio Ortega – $78.5 billion

Best known for being the founder and owner of Zara, the Spanish fashion/retail tycoon is also
known as one of the world’s most reclusive billionaires. The advice he offers to new
entrepreneurs who want to build their empire is “that speed is everything”. The ability to execute
faster than your competitors and accelerate business processes is a hallmark of Ortega’s success
and something he recommends you adopt.

 Carlos Slim – $67.9 billion

The Mexican telecoms tycoon is the richest man in Central America. He also owns significant
companies in transportation, real estate, manufacture and much more, with arguably one of the
most diversified portfolios of businesses out of any entrepreneurs on this list. His crucial
management advice to new business owners is always to make sure you have “simple
organisational structures” in place. Minimal hierarchies enable your business to act quickly and
take advantage of opportunities that other companies cannot.

 Larry Ellison – $59.1 billion

Ellison is known as one of the world’s best software salesmen, having built his vast fortune
as co-founder of the technology giant Oracle.
One of his most famous quotes is: “great achievers are driven, not so much by the pursuit of
success but by the fear of failure”. By this, he means you need to have the right mindset to
achieve the success that some of the world’s most exceptional entrepreneurs have, and you can
do this not by just aiming for victory but by letting the fear of failure drive you beyond your
limits.

 David Koch ($49.2 billion) & Charles Koch ($49.1 billion)

The Koch brothers are the owners of Koch Industries, a massive manufacturing, chemical and
commodity conglomerate that started as a family business and then was massively expanded by
the brothers. They are more publicly known in the United States as critical political donators and
influencers when it comes time to elect a new president. Unfortunately, the Koch brothers are
notoriously private, and the most advice we could glean would be that once you have established
a company, then diversify into other industries while leveraging your core strengths.
  Michael Bloomberg – $47.1 billion
Michael Bloomberg is the most prominent media personality on this list and was even tipped as a
presidential candidate for the most recent election (he is also the mayor of New York).
Bloomberg the business he built is known around the world as one of the primary providers of
software and hardware to stock exchanges and traders around the world, it is also one of the
biggest media platforms in the business world. His advice to small business owners is something
that every entrepreneur on this list has said at some point, and that is to WORK HARD. As he
says, “if there’s only one key to success, its hard work”. It is the simplest but perhaps the best
piece of advice, since hard work and perseverance is what you will mainly need to build your
business to success. Now reflect for a minute what’s relevant to you as an entrepreneur and then
get back to building your billion pound or dollar empire.
Let’s Analyze!

Task!!!: Ranking the importance of your attitudes Selected

Rank all the entrepreneurial attitudes, personalities and work-style you selected from the previous
task according to its importance to your profession or course chosen.

 Passion
 Motivation
 Optimism
 Creativity
 Risk-Takers
 A positive mental attitude
 Enjoy being around people
 Excellent communication skills
 A strong desire to achieve
 Resourcefulness
 Objective
 Committed
 Dependable
 Proactive and not reactive
 Possess technical skills and knowledge

Task!!!: Your Choice!

If given enough resources such as money or capital and time. Will you buy an existing business or create
a new one?

Buying a business is generally considered less risky than starting your own business,
especially if you can buy a well-managed, profitable business for the right price. The first
advantage you have when buying an existing business is time. You can move much quicker and
directly by having a legal and physical infrastructure in the country. You also have access to a
team of people that are ready to move forward straight from the start. Buying an existing
business gives you a head start. The next advantage is that you get access to staff and knowledge
directly. It is very important that you find ways to check the quality of the employees and get an
idea if they have the knowledge and skills you need. We assisted one buyer in cross-border IT
acquisitions mainly to have people to service its largest clients abroad. On the one hand, these
new people needed specific training certificates but on the other hand, they also needed to be
capable of dealing with the most important clients. Checking actual certificates is easy. Finding
out if people can deal with large instead of small clients is something that is more difficult to do.
However, in the end, getting access to qualified staff is the main advantage when buying an
existing business. Clients are, of course, very important. Winning new clients is a challenging
task and if you can get access to new clients via an acquisition, this is an ideal opportunity.
However, you also have to be critical of the quality of the clients of a target you acquire. How
much do they depend on the relationship with the existing business owner? Are they active in the
same industries you target? Do they have the size you want? Finally, are you able to sell more
services or products to these clients? The buyer mentioned above was only interested in
multinational clients. The SME (small-medium sized) clients were of no interest to this buyer
and had no value in the end. So, the new clients you receive when acquiring a company is a
positive point. However, you have to know whether these clients are the ones you are looking
for. When doing a greenfield investment, you need to find everything out yourself. This can be
very time-consuming.

When you buy an existing business all these items are normally sorted. Further, quite a lot of
knowledge exists on a local level about these requirements. Especially if you have a company
that is subject to a lot of regulation (e.g. when pollution is an issue) it is good to know that the
framework to cover this is already in place. Once you acquire a company you have a direct
position in the new local market you are interested in. This direct presence gives you a huge
advantage as you can continue to build your company further straight away. An existing business
decreases your risks compared to starting a business from scratch. You can already see what is
out there. During a due diligence process, you can check the business and the items which you
consider to be risky. Once this is done, you have more certainty that the business is well set-up
and that limited risks exist. On the contrary, if you start a business from scratch, you always have
the risk that things will go differently than what you expected and the newly set-up company
may not be a success.
Task!!!: Provoking Question

What are the possible contributions or changes that may happen to you as you study this
course? Explain Why?

We all have a mindset, yet often we are not consciously aware of it or the
profound effect it has on our lives. Our mindset is the underlying mechanism that can
expose opportunities and ignite our ambition, engaging our faculties in ways that enable
us to flourish and thrive. Yet, our mindset can also blind us to opportunities and hinder
our ability to learn and grow, keeping us tethered to familiar, yet unproductive patterns of
thought and action. An entrepreneurial mindset is a specific set of beliefs, knowledge, and
thought processes that drives entrepreneurial behavior. Those with an entrepreneurial
mindset tend to believe in their ability to succeed and influence their own outcomes,
empowering them to take ownership of their lives; have compelling goals that keep them
future-focused and intrinsically motivated, driving them to be self-directed, action-
oriented, and highly engaged; have an optimistic interpretation of adverse events and see
problems as potential opportunities, becoming highly resilient, resourceful, and solution-
oriented even within highly uncertain, resource constrained environments; be lifelong
knowledge seekers with a focus on micro-experiments as learning opportunities to test
ideas, cultivating curiosity, creativity, and critical thinking; display a high-level of
reliability, understanding that following through on simple solutions can lead to
unforeseen opportunity; have a humanistic outlook, being other-focused and
understanding that one creates value by looking to solve problems for others; and
surround themselves with an intentional community of positive influence and critical
guidance. It’s important to note that successful entrepreneurs are often touted as
exceptional individuals; a rare breed who seem to have been born with unique hereditary
traits. But, the entrepreneurial mindset is most often acquired implicitly without conscious
effort or awareness, which may explain why it often appears to be a dispositional trait,
even though it is not. An entrepreneurial mindset can be developed and enhanced through
entrepreneurial experiences. And to cultivate the entrepreneurial mindset, we must create
entrepreneurial learning experiences within our classrooms, organizations, and
communities.

Entrepreneurship enhances creativity and boosts innovation. Being creative and

innovative is something inside ourselves that needs to be developed. It’s only through
putting these abilities to work that you can improve them. It’s undeniable that
entrepreneurship requires both skills, so they’ll get used and improved along your way.
And, at the end of the day, that’s what I think entrepreneurship is about. It’s about making
other people’s lives better while you improve yours as well. It’s about giving, receiving,
hearing and being heard, and, overall, loving the work you do.