Entrepreneurial Mindset

is the specific state of mind which orientates human conduct towards entrepreneurial activities and outcomes.

Individuals with entrepreneurial mindsets are often drawn to

opportunities,

innovation, and

new value creation.

This would be a specialized growth mindset as opposed to fixed mindset.

Mindset: The New Psychology of Success, Stanford Professor Carol

S. Dweck presented her research showing that hard work and mindset impact success more than natural talent.

An entrepreneurial mindset stands alone in terms of its importance in these areas.

No other attribute, personality, inherent entrepreneurial proclivities, training, or demographic profile is common to all successful entrepreneurs

whether Warren Buffet, Steve Jobs, or the neighborhood florist or grocer. 

The difference between Exploitation, exploration and ambidextrous

Exploitation: when firm making small exploitative changes to the existing technology and the existing customer base and how you reach them.

And when firm making some exploration either finding ways to incorporate very different technologies, or getting two very different markets, or some combination of both.

While balancing, exploration, and exploitation in the established firm, being ambidextrous because you can work with both hands and balance these two activities.

Are all entrepreneurs belong to one category?

They do tend to fall into categories that we can attribute some specific characteristics. These categories are

1-Serial entrepreneurs

Is someone who focuses on starting multiple businesses one after another.

Their focus is to find one new firm, typically selling that firm first and then starting their subsequent firm. An example of a serial entrepreneur is Steve Jobs.

2-Parallel entrepreneurs

Is someone who manages to run more than one successful business at the same time.

 Steve Jobs incidentally was also a parallel entrepreneur when he was running both Pixar and Apple at the same time.

3-Non-traditional entrepreneurs.

This include people who create jobs for themselves in a variety of idiosyncratic ways by establishing businesses on their own.

This often results because as the global economy has evolved, lots of multinational corporations have significantly redistributed the production and services to take advantage of cheaper labor.

4- Micro-entrepreneurs

Workers who need to run more than one job at the same time to pay bills, they're doing this often to offset difficult economic times.

What are the entrepreneur’s common traits?

There are a few things that we do know from research about entrepreneurship with some evidence that:

1-Entrepreneurs are more likely to exhibit overconfidence.

2-Entrepreneurs are more likely to demonstrate some optimism,

 So in studies that have looked at social capital, incognition, and entrepreneur opportunities, we see that some levels of optimism that are over and beyond the general population,

as well as overconfidence.

3-Risk propensity. There is some research that suggests that entrepreneurs are more likely to tolerate higher levels of risk, but other findings show that there's no difference in terms of risk propensity at all. 

4-Entrepreneurial passion very often, 

But on the whole, most research has produced mixed findings on particular traits and attributes that might define an entrepreneur. Findings related to other

traits are really mixed.

3 How's for Entrepreneurial thinking

Entrepreneurial thinking is about:. 
How to minimize risk. 
How to maximize your chances of success. 
How to be smart about exploring opportunities

Entrepreneurship and Entrepreneur definitions

Entrepreneurship is the creation and management of a new enterprise to accomplish certain objectives.

Although some of them are beyond just making money yet, financial sustainability is still an important objective for virtually any entrepreneur.
While as

an entrepreneur is a business leader.

an entrepreneur makes a concept viable.

an entrepreneur organizes and manages a business undertaking.

an entrepreneur runs their own companies. 

What are an entrepreneur's key successful factors?

For an entrepreneur to be successful he/she must have:

1-    Entrepreneurial passion to solve something.

2-    Committed to execution in some way through an execution plan

3-    Complement some of those other aspects that are outside of the knowledgebase, which is around personality and fashion

4-    3 R’s: being in the Right place at the Right time with the Right idea