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Saturday, May 25, 2024

Entrepreneurial Mindset: Characteristics to Cultivate as an entrepreneur

By Mitchelle Uzorka, 7:30am

The entrepreneurial mindset is unique in that one must be creative, communicative, and highly motivated to succeed, yet open to risk and failure.

Having an entrepreneurial mindset may determine success or failure. Here are some characteristics you can learn for success.

1. A Creative Mindset;

Never has the adage “Creativity is the mother of invention” been truer than in the world of entrepreneurship than now, looking at the Economic stability of the country. Think of Steve Jobs and the iPhone. Edison and the light bulb. The Wright Brothers and the airplane. Each of these ground-breaking inventions would not have come to fruition were it not for healthy doses of creative gumption.

Even if you’re not in a “creative” industry, creativity is needed for entrepreneurial success. The mind of an entrepreneur is always looking for novel ideas and innovations. The basic life cycle of any entrepreneurial product stems from the conception of an idea followed by turning that idea into a viable product or service.

2. Persuasive Communication Ability;

The best entrepreneurs can be very persuasive individuals. The power of persuasion can help you negotiate, close a sale, or score a lower price on your inventory. Not to mention, persuasive people tend to be inspiring leaders, ergo they tend to be stellar bosses.

3. Tenacity and an Ability to Learn from Failure;

When you’re starting a business, you hope that your business will be a wild success. It’s true that success is wonderful, but failure is where growth and change happen. The key to learning from failure is to actually learn and embrace your mistakes so they make your better, rather than break you.

It’s not a big idea alone that paves the path to ultimate entrepreneurial success. Oftentimes the success or failure of a business comes down to the characteristics of the entrepreneur themselves. It takes a unique aggregate of characteristics to meld one big idea into a fully-functional thriving business.

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