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Entrepreneurship, what does it take?



Kirjoittanut: Emil Makkula - tiimistä SYNTRE.

Esseen tyyppi: Yksilöessee / 2 esseepistettä.
Esseen arvioitu lukuaika on 3 minuuttia.

Entrepreneurship, what does it take?

 

 

Chapter 1: Introduction

 

Entrepreneurship is a key driver of economic growth and innovation. According to the Global Entrepreneurship Monitor (GEM) 2020/2021 Global Report, entrepreneurship rates increased in 76% of the countries surveyed, despite the economic downturn caused by the COVID-19 pandemic (GEM, 2021). Successful entrepreneurs possess a unique mindset that enables them to identify and seize opportunities, take calculated risks, and persist through challenges. This essay analyzes the characteristics and traits of successful entrepreneurs and how they develop an entrepreneurial mindset that drives their success.

 

Chapter 2: Characteristics and Traits of Successful Entrepreneurs

Successful entrepreneurs possess a range of characteristics and traits that contribute to their success. One key characteristic is a passion for their work. If you are really passionate about something you do, you put more time in it, sacrifice more for it and thus success better. According to the GEM 2020/2021 Global Report, entrepreneurs who start a business because they are passionate about their work are more likely to succeed in the long run (GEM, 2021). Another important trait is a willingness to take calculated risks. Entrepreneurs who are willing to take risks and learn from their failures are more likely to achieve success. Everyone could take the easy, non-risky way and go for a steady income wage job, but behind those jobs there is someone who once took the risk and started the whole company. Other traits that successful entrepreneurs possess usually include persistence, creativity, and the ability to adapt to changing circumstances.

 

Chapter 3: Entrepreneurial Mindset

The entrepreneurial mindset refers to a set of beliefs, attitudes, and behaviors that enable entrepreneurs to identify opportunities, take action, and persist through challenges. According to Dweck (2008), individuals with a growth mindset believe that their abilities can be developed through hard work and persistence, and are more likely to embrace challenges and learn from their failures. Successful entrepreneurs possess an entrepreneurial mindset that enables them to see the world through a different lens. They are constantly looking for new opportunities and are willing to take action to turn those opportunities into reality.

 

Chapter 4: Developing an Entrepreneurial Mindset

Entrepreneurs can develop an entrepreneurial mindset by cultivating certain habits and behaviors. One key habit is to practice curiosity and creativity. Entrepreneurs who are curious and creative are more likely to identify new opportunities and develop innovative solutions (GEM, 2021). Another important habit is to embrace failure and learn from it. Entrepreneurs who are willing to fail and learn from their mistakes are usually more likely to achieve success in the long run. No one can learn anything if they don’t learn to fail first. Failing creates room to improve. Other habits that entrepreneurs can cultivate include setting goals, taking action, and seeking feedback from others.

 

Chapter 5: Case Study of Successful Entrepreneurial Mindset

One example of a successful entrepreneurial mindset is Steve Jobs, the co-founder of Apple. Jobs was known for his passion for innovation and his willingness to take risks. He was also a creative thinker who was constantly looking for new ways to solve problems. Jobs embraced failure and used it as an opportunity to learn and grow. According to Isaacson (2011), Jobs once said, “I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.” These characteristics and habits enabled Jobs to develop an entrepreneurial mindset that drove the success of Apple.

 

Chapter 6: Conclusion

In conclusion, successful entrepreneurs possess a unique mindset that enables them to identify and seize opportunities, take calculated risks, and persist through challenges. The entrepreneurial mindset is characterized by certain beliefs, attitudes, and behaviors that can be cultivated through practice and habit. By understanding the characteristics and traits of successful entrepreneurs and how they develop an entrepreneurial mindset, aspiring entrepreneurs can improve their chances of success in the competitive world of entrepreneurship.

 

 

 

References:

 

Collins, C. J., & Hanges, P. J. (2009). They can do it, but do they do it? A framework for understanding and predicting entrepreneurial behavior. Journal of Business Venturing.

 

Dweck, C. S. (2008). Mindset: The new psychology of success. New York: Ballantine Books.

 

Global Entrepreneurship Monitor. (2021). Global Entrepreneurship Monitor 2020/2021 Global Report.

 

Isaacson, W. (2011). Steve Jobs. New York: Simon & Schuster.

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