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 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 operational.
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 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.

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.

COMFORT WITH UNCERTAINTY

Similarly, a distrust of prediction and analysis creates an atmosphere where uncertainty rules.
Indeed, uncertainty is the very essence entrepreneurship.

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.

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.