Do you tend to guard innovation or do you want to share and exchange ideas, even with potential rivals? Do you believe risk is to be avoided or that it is the catalyst for innovation and creation? Are you driven by an innate need to create, build and grow? Entrepreneurial thinking is a way of approaching challenges and opportunities. It’s about the way you work and make decisions.
An entrepreneurial mindset means you are drawn to opportunities, innovation and new value creation.
Whether you run your own business or you are in a job where you are expected to contribute to the growth of the business, it’s essential to develop entrepreneurial skills. It is a mindset that allows you to see opportunity everywhere from a business idea to considering the possibilities in the people that can help grow a business.
Entrepreneurial thinking is about embracing challenges.
Here are ten ways you can help foster entrepreneurial thinking:
1. Ask questions
Be a curious information seeker, always willing to learn.
2. Be self-motivated
Have the dedication or determination to do whatever it takes to get things done and succeed. Keep your spirit high no matter how discouraging a situation is. Believe in your own potential and maintain a high level of motivation, regardless of the attitudes of those around you.
3. See challenges as opportunities
Setback, problems, obstacles, uncertainty or whatever you want to call them are common elements in life and business. Your reaction and response when faced with a difficult situation can determine if you can learn and grow. You may see a need to improve upon an existing weakness or take measures to avoid experiencing a similar setback in the future.
4. Be resourceful
Make the most of what you have. Don’t let what you cannot do interfere with what you can do. If you focus first on constraints rather than possibilities, you will be stifling your creativity.
5. Embrace risk
Be willing to fail and start over again, taking the lessons you have learnt to create something new and improved. Risk is a natural part of trying to achieve goals. Expect failure, plan for failure, and learn from failure. Develop a resilient spirit so you can handle challenges.
6. Create value
Your idea, product or service needs to help create a positive effect on others. This could be by solving a problem or helping other achieve more.
7. Remain optimistic
Expect that a satisfactory outcome is both desirable and possible. Actively look for the positive factors in a situation. This will help give you the courage and ability to carry on and try again. Have faith in your ability to succeed and persevere when others might give up.
8. Be a leader
Be the leader of your venture. The ability to lead is the foundation of building a team, leading others to understand your entrepreneurial vision and effective selling. The ability to empathise is part of being an effective leader. Trying to see others’ views and feelings enables you to gain their support.
9. Plan ahead
Think in terms of long-term outcomes. Look towards growth and widen your influence over time. Thank about what you would like to be doing in ten or twenty years. Identify the problems you want to solve and position yourself to find a solution for those problems. All great accomplishments have a timeline, working from a starting point to the goal. Goals keep you moving toward things you really want.
10. Think creatively
Look at situations from a variety of perspectives and come up with original ideas.
Creativity to question is not enough. Being entrepreneurial also requires the courage to believe and the drive to move.
With time, determination and practice, you can begin to think more entrepreneurially. Start by making subtle modifications to any thoughts that are keeping you from exploring a new idea and become aware of the habits and beliefs that are holding you back. Entrepreneurial thinking empowers you to own your future, not just your own business.