Lesson 2:

Entrepreneurial
Mind
MODULE 1
INTRODUCTION OF ENTREPRENEURSHIP
Entrepreneurial Mind Frame
Entrepreneurial mind frame
allows the entrepreneur to see things
in a very positive and optimistic light
in the midst of crisis or difficult
situations.
In fact, in Chinese writing, the word
crisis is composed of two characters.
The first character means danger
while the second character means
opportunity.
Entrepreneurial Mind Frame
Passion is the great desire to attain a vision or fulfill a
mission. It is about wanting something so much that a
person would be willing to totally devote oneself to the
quest.

“..people with
passion can change
the world for the
better.”
-Steve Jobs
Entrepreneurial Heart Flame
The Entrepreneurial heart flame is also
about emotional intelligence or EQ, which
is often manifested in the entrepreneurs’
efforts to nurture relationships with
customers, employees, and suppliers.
Entrepreneurial Heart Flame
The entrepreneur also looks after the
interests of his or her people by
motivating and encouraging them to
be the best that they can be.
This creates caring culture within the
organization that brings about
synergy among the people working
toward a common vision.
Entrepreneurial Gut Game
The Entrepreneurial gut game refers
to the ability of the entrepreneur to
sense without using five senses. This is
also known as intuition.

The gut game also connotes courage or,

in the local dialect, “lakas ng loob”
(strong intestinal fortitude).
New Product Development
Successful new products spring from the convergence of:

(1)the creative mind;

(2)the technical mind; and
(3)the business mind.
The Entrepreneurial Mind
The creative mind conceptualizes and designs a product
that consumers find some use for. It likewise produces a
product that is pleasing to see, touch, smell, hear, and
taste.
The Entrepreneurial Mind
The technical mind is the technology originator. The
entrepreneur may not necessarily possess the technical
mind but this is what drives him or her to convert new
knowledge into something highly functional and
operational. Wireless Charger
The Entrepreneurial Mind
The business mind harnesses the potentials of new
products by creating the market space for them. It also
organizes sufficient forces and resources to develop,
launch, and commercialize the new product in order to
maximize its market value.
5 Essential Characteristics of The
Entrepreneurial Mind
Creativity
The seed of entrepreneurship is the
ability to see things differently.
Whether it's with new products or
new processes, entrepreneurs are
driven by the uncanny knack to see
holes in the marketplace and devise
innovations to fill them.
5 Essential Characteristics of The
Entrepreneurial Mind
Suspicion of predictors
Entrepreneurs tend not to labor under the assumption
that data is the sole predictor of an outcome. Especially
in new markets and with new products where data is
largely interpretive or extrapolated, entrepreneurs are
undaunted by the typical predictors that may put off
fainter hearts.
5 Essential Characteristics of The
Entrepreneurial Mind
Comfort with
uncertainty
Similarly, a distrust of
prediction and analysis
creates an atmosphere
where uncertainty rules.
Indeed, uncertainty is the
very essence of
entrepreneurship.
Essential Characteristics of The
Entrepreneurial Mind
Openness to experimentation
A comfort with experimentation goes beyond educated
trial and error. The ability to experiment with products,
processes and outcomes, no matter where the results
may lead, is the key element of this quality.
Essential Characteristics of The
Entrepreneurial Mind
Functional humility
Egos can destroy the very best ideas. Entrepreneurs who
are committed to solving a business problem or
reinventing a product or service display a functional
humility.