PTER 3: ENTREPRENEURIAL MIND

CHA SET

MEACOCK, SHAENA DAWN

SANDIGAN, MARY JOY GRACE
 ENTREP. MINDSET

The most
important
investment you
can make is
yourself
WARREN BUFFET
 “YOU MISS 100% OF THE SHOTS YOU DON’T TAKE”

·Part of being an entrepreneur

means taking risks and mostly
failing
·The goal is to fail, learn, and then
succeed
 “YOU MISS 100% OF THE SHOTS YOU DON’T TAKE”

According to Jim Paul, author of

“What I Learned Losing a Million
Dollars” (Paul and Moynihan, 2013):
There are people for places, places for
people. You can do some things and
you cannot do other things. Don’t get
all upset about the things you cannot
do. If you cannot do something, pay
someone else who can, and don’t
worry about it”
 STOICISM
“Don’t be ashamed to need help. Like a
soldier storming a wall, you have a
mission to accomplish. And if you’ve
been wounded and you need a comrade
to pull you up? So what?”

MARCUS AURELIUS, MEDITATIONS

 STOICISM
Ego can build an empire and at
the same time destroy it
Create an environment in which
people are asking questions
more than making statements.
Constant dialogue leads to
breakthroughs

 TAOISM
The goal for implanting the Taoist
belief is to appear to be doing
nothing while all the work gets done
Develop your team and cultivate an
environment so effective that it
appears they do nothing while
everything gets done.
Take care of the issues / tasks before
they even land on your desk
 TAOISM
A busier person does not
necessarily mean that more
work is getting done
Do not equate busy with
productive
Do not do work for the sake of
work
SALES According to Grant Cardone, author of “Sell or Be
Sold (Cardone, 2012)”, Sales is anything having to
do with convincing, persuading, negotiating, or
just getting your way.”

You have to believe in what you are

saying

If you have a passion for what you are talking about, it will
show in your presentation. You look at all angles of possibility,
trying to find ways to improve upon the idea or concept.

Do not make the mistake of thinking selling is

easy
SALES Build confidence, not through luck,
but through knowing what you are
doing. No one becomes best by luck.

Controlling (your team) will stifle

growth; being a leader does not mean
you have to be controlling

Create an environment in which

ideas can flow freely without the
fear of getting shot down by a
controlling superior.

VERTICAL SLICES
• What is the most effective way
to eat an entire cake?
Separating out the layers then
eating, or taking a slice of all the
layers together until the entire
cake has been devoured?

•·Instead of taking on the

problem issue by issue, take a
small slice out of each issue
until they are complete.

VERTICAL SLICES

·Spend some time completing

a part of each task and
alternate between them.

·The vertical slice approach

works best for noncritical
issues

 Edward de Bono, a physician, psychologist,

author, inventor, and consultant, developed the
concept of the Six Thinking Hats (DeBono, 2000).
This is a mental technique to redirect your
thoughts.

This technique allows for people to branch out

and take on different roles without the pressure
of being assigned a new role.
SIX THINKING HATS:

USE THEM
 Chef/ White Hat
Use this hat first. This represents
a neutral and objective thought
process which deals with data
and facts

SIX THINKING HATS:

USE THEM
 Construction/ Yellow Hat
This thought process is sunny and
positive. It requires optimism, the
value of “if,” and making it happen.
There are no negative thoughts
while wearing this hat.

SIX THINKING HATS:

USE THEM
 Magician/ Black Hat
This though process is also
known as the devil’s advocate.
It asks the question “Why?” You
are exploring the difficulties
and dangers.
SIX THINKING HATS:

USE THEM


Firefighter/ Red Hat

This represents the emotional
view or gut feeling. It uses
intuition or hunches to explore
further what is liked and
disliked.
SIX THINKING HATS:

USE THEM
 Leprechaun/ Green Hat
This thought process is
based on creativity. This
stage is to grow the idea.
Think big, delve into the
possibilities, alternatives,
and new ideas.
SIX THINKING HATS:

USE THEM

Police Officer/ Blue Hat

This thought process
involves organizing and
thinking. It is about summary
and takeaways.

SIX THINKING HATS:

USE THEM
 FIVE ACTIONS ON AN
ENTREPRENEUR
Any time project managers take on a new
project, there is risk involved. Inherent Risk is
the probability of loss arising out of
circumstances or existing in an environment,
in the absence of any action to control or
modify the circumstances.
If control is not enough, there should be steps
in place to take action to limit the impact.
Created Risk is an action to bring about the
risk that is not a natural by-product of the
activity. You are taking on additional risk by
performing a task.
 FIVE ACTIONS ON AN
ENTREPRENEUR
2. TRADING
1. INVESTING
In the financial world, a
An organization parts with its
resources expecting a return on trader makes a market, buys
said resources. The return is at the bid price, and tries to
periodic payments in the form sell at the offer price.
of interest, dividends, or profits.
The resources invested should
be worth the return. Investing
takes on a long-term view, so
returns may not be immediate.
 FIVE ACTIONS ON AN
ENTREPRENEUR
3. SPECULATING 4. BETTING
Parting with capital with the Betting is a game of right
expectation of capital and wrong. Two parties
appreciation. You are purchasing agree on a reward, usually
an item, tangible or intangible,
money. The wrong party
with the hopes of its value
forfeits the reward to the
increasing over time, to resell for
right party.
profit. It does not have periodic
returns such as dividends or
interest like in Investing. Its returns
are uncertain.
 FIVE ACTIONS ON AN
ENTREPRENEUR
5. GAMBLING
Gambling and betting are closely related. The
difference comes in the form of entertainment and
chance. Gambling is not often about being right or
wrong. The odds can be stacked in your favor, yet
you still lose. Your action was right but the outcome
was not a win.
 M PER
H JU
Revolutionary ideas are not a

HIG
W D complete 180-degree difference
NE

SC A N
HOOL ER
from the previous best practices.
: KICK The subtleties can make all the
difference.
A new standard can be set by
experimentation and trial and error.
Play around with different ideas, and
try different approaches to a single
challenge.
 FI XED
DG

AN
According to Dr. Carol Dweck, A fixed-
mindset individual will choose activities to RO W T S
confirm his or her ability, while a growth- TH MI ND S E
mindset individual will choose activities to
expand his or her ability.

Mix tasks to expand a person’s ability

instead of confining them. Knowing more
roles can help the team collaborate more
effectively.
REFERENCE:
THAT'S A W
Cook, C. (2017). The Entrepreneurial RAP
Project Manager. Boca Raton, FL, USA:
CRC Press
THANK
YOU !