TOPIC 2 ENTREPRENEURIAL MINDSET

What is Mindset?
➢ It is the established set of attitudes held by someone. ➢ a person's way of thinking and their
opinions (Cambridge Dictionary)
Two Types:
1. Fixed Mindset
2. Growth Mindset

Fixed Mindset
➢ people perceive their talents and abilities as set traits. ➢ They believe that brains and talent alone
are enough for success and go through life with the goal of looking smart all the time.
➢ They take any constructive criticism of their capabilities very personally, and tend to attribute
others’ success to luck or some sort of unfair advantage.
➢ People with a fixed mindset will tell themselves they are no good at something to avoid challenge,
failure or looking dumb.

Growth Mindset
➢ People believe that their abilities can be developed through dedication, effort and hardwork.
➢ They think brains and talent are not the key to lifelong success, but merely the starting point.
➢ People with growth mindset are eager to enhance their qualities through lifelong learning, training
and practice.
➢ They see failure as an opportunity to improve their performance, and to learn from their mistakes

What is Entrepreneurial Mindset?

➢ is a state of mind interested in the pursuit of opportunity with scarce, uncontrolled resources.
The goal is to create user defined value at various multiples of the existing competitive offering
through the deployment of innovation.

➢ is the ability to quickly sense, take action, and get organized under certain conditions. This also
includes the ability to persevere, accept and learn from failure, and get comfortable with a certain
level of discomfort.