The power of an Entrepreneurial Mindset 

Maria Karimo 

Ted talks are short videos that present innovative ideas and new knowledge in less than 18 minutes. I believe watching Ted talks is an excellent way to learn and think about new topics. Personally, I have watched many Ted talks throughout the years, and find them very informative. they have many good business-related topics that are specifically interesting to me and give me new motivation and knowledge. Today I watched a ted talk about the power of an entrepreneurial mindset by Bill Roche. It taught me that in today’s world, being an entrepreneur is not just about starting a business, it’s more about having a special way of thinking and doing things. This way of thinking is called the “entrepreneurial mindset,” and it’s all about having the right attitude and approach to solving problems and achieving goals for your business to be successful. Some typical skill sets for someone starting a business is creativity, critical thinking, problem solving, communications and most importantly an entrepreneurial mindset.  

In this talk, Bill Roche talks about students who started their own businesses with PowerPlay Young Entrepreneurs. He shows how letting students learn by trying things out and making mistakes can actually give them the tools for success in the future. He also talks about how students are encouraged to learn entrepreneurial skills actively starting from a young age. Roche shares stories of specific students who have done well in the program and talks about how each student’s success has inspired him. Roche makes educational resources about entrepreneurship, money management, and being socially responsible. He worked in Langley classrooms for over ten years and now helps teachers across the country create real-world learning experiences. More than 40,000 students have joined his PowerPlay Young Entrepreneurs program. I was part of a similar program last year called “NY-yrittäjä” and due to my entrepreneurial mindset and dedication to my project, my teacher invited me to join a national entrepreneur competition “Taitajat 2023” where I came 3rd place in the semifinal. This was an excellent way to discover my new potential, passion and gaining the knowledge of the reality of being an entrepreneur in a safe way with full support from my teacher. Joining the program and competition gave me the vision to study entrepreneurship and gave me the motivation to follow my dreams to become self-employed. 

Rosche explained that of the most important things about having an entrepreneurial mindset is being resilient. Resilience means being able to bounce back when things don’t go as planned. Entrepreneurs face a lot of challenges and setbacks, but instead of giving up, they keep going to achieve their goals. As most people look at failures being a step back in life, having an entrepreneurial mindset is about seeing failures as opportunities to learn and grow, rather than reasons to quit. This came into practice for the students in the program since they weren’t afraid to fail since they had full support from others. The program was definitely a safe way to experiment and learn. With the sense of safety, students were able to learn that failures are prone to happen and to view them as learnings instead of getting demotivated by them. 

Roche explained that another key aspect of the entrepreneurial mindset is the ability to be adaptable. Adaptable people can change and adjust their plans when needed. This is important because the business world is always changing, and entrepreneurs need to be able to change and learn at the same paste as it. Entrepreneurs are always looking for new ways to do things and aren’t afraid to try something different if it means achieving their goals. Staying open-minded and willing to consider new ideas and ways of doing things, even if they’re different from what you’re used to is a pig part of being adaptable. Being ready to change your plans when needed since sometimes, you might need to adjust your strategy or approach to better fit the situation. This reflects on entrepreneurship since everyone’s path is different. Constantly wanting to grow and learn is crucial to be able to adapt to a new situation because it will help with confidence and overall performance to reach personal goals. In the PowerPlay Young Entrepreneurs program a student with social performance anxiety overcame his fear of public speaking with the support of his teacher and ended up being able to interact with customers and selling his product with excellence what will benefit him in his future career. 

Creativity is another big part of the entrepreneurial mindset. Creative people can come up with new and innovative ideas that set them apart from others. Whether it’s inventing a new product or finding a unique solution to a problem, entrepreneurs are always thinking outside the box. This proves that even if you don’t excel in academics, it doesn’t mean you are not able to become a successful entrepreneur or work your way up to corporative ladder. When asked from a student who joined the PowerPlay Young Entrepreneurs program, “what did you learn about yourself?” he responded, “I found out that I am more creative than I thought I was”. Creativity is something many people tend to believe they don’t have to begin with but once they find something they are truely passionate about they can be surprized with the new creativity they find in themselves. 

Rosche explained in great detail how taking risks is another important aspect of the entrepreneurial mindset. Starting a business is a big risk in itself, but entrepreneurs are willing to take even more risks along the way. They understand that sometimes you have to take chances in order to succeed, and they’re not afraid to step out of their comfort zones. People with entrepreneurial mindsets are willing to try because they believe in their idea and want to make it happen. Taking risks can lead to great things, like growing a successful business or making a positive impact. But it can also be tough because sometimes things don’t go as planned. Still, even when things don’t work out, taking risks helps entrepreneurs learn and grow. People with entrepreneurial mindsets understand that failure is on the path for success. When asked from a 10 year old student who joined the PowerPlay Young Entrepreneurs program, “what did you learn?” she responded “I learned that if you take risks you will succeed. Taking risks means thinking outside of the box” This is an excellent example why the program was a success, by having a 10 year old student realize not to be afraid of taking risks, she is on the right path for success already at a young age. This should be taught in basic education so that students would not be afraid to follow what they believe in and what they are passionate about even if it would be a completely different path that other students would follow. 

Roche explained how persistence also another key skill for entrepreneurs. They know that success doesn’t happen overnight and that they’ll face many obstacles along the way. But instead of giving up when things get tough, they keep pushing forward. They’re determined to reach their goals, no matter what it takes. I believe this is an important skill for students to learn at an early age since the traditional school system fails to teach this in my opinion.  

Finally, having a supportive network is crucial for entrepreneurs. Surrounding yourself with people who believe in you and your ideas can make all the difference in the end result. Whether it’s friends, family, or other entrepreneurs, having a support system can help you stay motivated and focused on your goals. With the PowerPlay Young Entrepreneur program, they have their teachers full support the whole time what gives the students the courage to try out different business ideas that they might not have the courage to start on their own. In the program, having other students in the same boat also gives a certain safety to the students knowing they aren’t alone and to learn and get motivation and learn from others. While I was participating in the NY-yrittäjä program, I was able to be creative, innovative and full freedom to do what I desired. My teacher was very encouraging, supportive and taught me a lot of valuable information about being an entrepreneur during the program. My teacher had been an entrepreneur in the past and told me about his successes as well as the mistakes he made to teach me in concrete ways how being an entrepreneur can be tough yet incredibly rewarding what makes the effort worth it. 

In conclusion, the entrepreneurial mindset is all about having the right attitude and approach to achieving success. Having an entrepreneurial mindset doesn’t mean you have to become an entrepreneur in order to achieve success, having this mindset can also help you move your way up the corporate ladder while working for someone else. The entrepreneurial mindset helps people realize there is more potential in them, they realize that they are capable of things that they weren’t aware of before and unleashing their full potential as well as sparks leadership skills a student might have thought they didn’t have before. The mindset is about being resilient, adaptable, creative, and willing to take risks. It’s about being persistent and having a supportive network to lean on when things get tough. With the entrepreneurial mindset, anything is possible, and the sky’s the limit for what you can achieve. 

 Referance

https://www.youtube.com/watch?v=Ihs4VFZWwn4