WHAT IS MINDSET?

• Mindset has traditionally been defined as “the established

set of attitudes held by someone”.
• Yet, research has shown that our mindset needn’t be “set”
at all.
• Stanford University psychologist Carol Dweck proposes that
there are two different types of mindset: a fixed mindset
and a growth mindset.
 Fixed Mindset
• In a 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 unfamiliar to avoid challenge, failure, or
looking dumb.
 Growth Mindset
• On the other hand, in a growth mindset, people believe that
their abilities can be developed through dedication, effort,
and hard work.
• They do not think brains and talent are the key to lifelong
success, but merely the starting point.
• People with a growth mindset are eager to enhance their
qualities through lifelong learning, training, and practice.
• Unlike people with fixed mindsets, they see failure as an
opportunity to improve their performance, and to learn
from their mistakes.
• Despite setbacks, they tend to persevere rather than giving
up.
 Growth Mindset
• Dweck observes the growth mindset in successful athletes,
businesspeople, writers, musicians; in fact, anyone who
commits to a goal and puts in the hard work and practice to
attain it.
• She believes that people with growth mindsets tend to be
more successful and happier than those with fixed
mindsets.
• Although many of us tend to exhibit one mindset or the
other, it is important to recognize that mindsets can be
changed.
 Mindset
• Even if your mindset is a fixed one, it is possible to learn a
growth mindset and thereby boost your chances for happiness
and success.
• How can you do this? By becoming aware of that “voice” in your
head that questions your ability to take on a new challenge, by
recognizing that you have a choice in how you interpret what
that voice is telling you, by responding to that voice, and by
taking action.
 The Mindset for Entrepreneurship
• The growth mindset is essential to a mindset for
entrepreneurship.
• While there is no one clear definition of mindset and how it
relates to entrepreneurs, we believe the most accurate meaning
of an entrepreneurial mindset is the ability to quickly sense,
take action, and get organized under uncertain conditions.
• This also includes the ability to persevere, accept and learn from
failure, and get comfortable with a certain level of discomfort!
• Many successful entrepreneurs appear to be very smart—but
rather than being born with high intelligence, it is often the way
they use their intelligence that counts.
 The Mindset for Entrepreneurship

• Cognitive strategies are the ways in which people solve

problems such as reasoning, analyzing, experimenting and so
forth.
• The entrepreneurial mindset involves employing numerous
cognitive strategies to identify opportunities, consider
alternative options, and take action.
• Due to working in uncertain environments, the entrepreneurial
mindset requires constant thinking and rethinking, adaptability,
and self-regulation—the capacity to control our emotions and
impulses.
 Mindset vs. Character

Attitude/mindset and character are two words that appear

similar in sense but strictly speaking there is difference
between the two.

Attitude/mindset is the opinion or the method

by which one approaches a given situation.

Character on the other hand is the

description made by other people based on
their opinion.
 Entrepreneurial Mindset 1
Critical thinking & Problem Solving
The capacity to apply higher-level process-oriented thinking, consider
an issue form a range of possible perspectives, and use that reasoning
to make decisions.
Flexibility & Adaptability
The ability and willing ness to change actions and plans to overcome
present & future challenges.
 Entrepreneurial Mindset 1
Communication & Collaboration
The ability to clearly express ideas to an intended audience, including
persuading others to work towards a common goal.
Comfort & Risk
The capacity to move forward with a decision despite inevitable
uncertainty and challenges.
 Entrepreneurial Mindset 1
Initiative & Self Reliance
The power to take ownership of a project without input or guidance
and work through obstacles independently.
Future Orientation
An optimistic disposition with a focus on obtaining the skills and
knowledge required to transition into a career.
 Entrepreneurial Mindset 1
Opportunity Recognition
The practice of seeing and experiencing problems as opportunities to
create solutions.
Creativity & Innovation
The ability to think of ideas and create solutions to problems without
clearly defined structures.
 Entrepreneurial Mindset 2
1. Independent 6. Growth-oriented
2. Responsible 7. Feedback-seeking
3. Abundant 8. Learning-oriented
4. Goal-oriented 9. Forward-thinking
5. Not afraid of failure10. Self-accepting
 Entrepreneurial Mindset 2
11. Self-aware 16. Problem-solving
12. Collaborative 17. Driven and tenacious
13. Courageous 18. Focused
14. Comfortable with 19. Action-oriented
Discomfort 20. Decisive
15. Adaptable