ROGELIO A.

CASTRONUEVO III THE ENTREPRENEURIAL MIND

BSOA 3.1 ACTIVITY 1

Topic: Importance of Entrepreneurial Mind, Skills, and Traits for Success

• Benefits of having an entrepreneurial mindset.

• How entrepreneurial mindset can help people to succeed in business.

Entrepreneurial mindset is a set of skills that will enable a person’s capability to identify and
make the most of opportunities which means, having this mindset, a person is likely to be
resilient, resourceful and solutions-oriented.

Nowadays, we all know that one of the major crisis in our country is poverty. But what exactly
brought us to this kind of situation? In my own opinion, if an individual is lack of confidence
and not solutions-oriented, they tend to stay on that level where they are living right now. And
because of that, they don't see the opportunities they can try to improve themselves and their
lives and leads an individual or even their family to poverty. This is where the importance of
having the entrepreneurial mindset that an individual is comes into play. If a person possesses
confidence, resilience and enthusiasm, it will it will lead them to success and can result in an
increase of happiness at work and they will look forward for career growth and improvement.
Unlike for those who doesn’t have this mindset, they are afraid to take a risk and doesn’t have
the confidence to take a step higher and increase the chance of succeeding in anything
throughout life.

Another benefits of having entrepreneurial mindset extends a person’s ability to learn from
failure. It will allow a person to foster success in every challenge and think creatively to plan
and identify more opportunities in life. If a person was involved in an organization, it also
encourages to come up with new ideas that can help an organization grow. In terms of
businesses, it can lead to the development of new products or services and creation of new
markets and increased productivity, efficiency, and success. That’s why having an
entrepreneurial mindset was very beneficial.

In business, it will also help entrepreneur to be innovative and creates new ideas and improve
their products or services. Having a business is a risk because you don't know if it will be
successful or not. You will often face uncertain failure and problems but having entrepreneurial
mindset will help you to resolve those problems and not afraid to think outside the box and
come up with new solutions to problems. It is easy for an entrepreneur to adapt to every
situation and think on their feet and make quick decisions.

Entrepreneurial mindset also helps people to succeed on their business by giving self-
motivation and set goals to have a clear vision of what they want to achieve and make it
happen.

Overall, an entrepreneurial mindset can be beneficial for an individual and different kind of
business industries as it can help them be more innovative, proactive, resilient, adaptable,
self-motivated, and resourceful.