The entrepreneurial spirit is a characteristic mindset that thrives to seemingly build something great from nothing. The undying spirit of an entrepreneur is the mindset that will continue to push themselves to grow beyond their very limits. Here are the 5 most useful mindset to grow your entrepreneurial spirit.
To embrace challenges is to transform problems into new opportunities. This growth mindset is the core of the entrepreneurial spirit. One has to persistently endure the challenges and embrace them as the part of the journey.
Avoiding challenges and mistakes may always be more important to some than getting somethings right. Sure, limited capital when starting up may prevent you from accepting a challenges as the chance of permanent capital loss is real. Also, withholding from trying to take the leap will result in a lost opportunity and even self-destruction. When you sit back and realize the propensity of embracing challenges repeatedly, your mindset will stop preventing yourself from taking up a challenge.
Respond with Speed
Responding with speed is not a guarantee to be optimal, perfect, logical, or rational, but instead sufficient for reaching an immediate goal; Where finding an optimal solution is impossible or impractical. Intuitive judgments must be used to speed up the process of finding a satisfactory solution. Successful Entrepreneurs employ rule of thumb, educated guess and more to respond with speed.
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People used to have time to make cold decisions which is fully processed choices based on reason and logic. Today, with rapid prototyping and agile development trends spilling over into all aspects of business, what social psychologists call “hot cognition” is the norm. Knowing that your hot cognition will be governed by your irrational mind, start to practice making hot decisions like you would cold ones to grow your entrepreneurial spirit.
Behavior of decision-making that takes us outside rational thinking to act faster than our minds can process, may bring out the best of your skills. Responding with speed is all about knowing without knowing. Imagine an athlete to perceive a basketball flying through the air and move to catch it and basket it without doing any serious mental calculations.
A vast majority of our decisions made in seconds are based on emotions and intuition . A fact that leads us into traps and makes us vulnerable to manipulation and poor choices. Of course, your irrationality isn’t always a handicap. Sometimes intuitive decision-making can help us do what we’d never be able to manage without it. So, always respond with speed ASAP (As Soon As Possible).
Perceive What Most Might Miss
The longer you live, the more you realize that the difference between success and magnificent failure lies in how well you understand things around you. Having a different perspective doesn’t simply affect your outlook on life, but the way you perceive reality. Although, behavioral and past mistakes are not addressed by most entrepreneurs, but they are the most crucial in my view.
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Always try to pursue an innovative approach backed with low risk and decisive management inputs that facilitate a view of a different perspective. Thus, by perceiving what most might miss drives innovation in meeting business strategy and success.
Openness to Experience Change
Openness to experience change makes entrepreneurs more likely to experience better creativity, imagination, and a willingness to try new things. Escape the comfort zone, try new experiences and accept change. The bad news is that failure is all too common, but the good news is that it’s possible one’s chances of success can change with an open mind.
The most important aspect of entrepreneurial spirit is to remember that experience is a curious child; One that needs to be updated regularly with newer and better questions and newer mistakes!
Extend The Value-Chain
The important part of having an entrepreneurial spirit is to share and inspire. You need to extend the value chain you have with others. As entrepreneurs our role is to identify where people are on their journey through change and help them move on. Extend the value-chain on the basis of the additional value you can bring to the market genuinely as opposed to a me-too approach.
The change we bring in others may help us in more ways than we realize. So, don’t hold back on sharing and helping other with what you have. This behavior of engaging and inspiring, will help in great teamwork and collaboration that I know will fuel the undying entrepreneurial spirit.
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