Resourcefulness, self-starter, taking initiative, go getter are commonly used terms to describe people who make things happen...in the last 15 years we have seen these qualities to be associated with entrepreneurial mindset and abilities. What exactly is an entrepreneurial mindset?

In the new norm, a unique blend of traits to stay kicking, seek opportunities, move on would be needed. These are similar to having athletic abilities but may or may not make you a great athlete. Here I would attempt to look at this dimension of entrepreneurial ability.

Entrepreneurship Vs Entrepreneurial mindset

Many years back when I started my entrepreneurial journey, I came across this very good line “Entrepreneurship is a lifestyle choice.” It stuck to me for many years. The difference between entrepreneurship and entrepreneurial mindset is that all people with entrepreneurial mindset may not necessarily become entrepreneurs and to become entrepreneurs you cannot rely on entrepreneurial mindset alone.

Entrepreneurial mindset is not necessarily for generating commerce. It is the intent quotient. Today entrepreneurial mindset is one of the biggest societal requirements as we rebuild the world, nation and ecosystem.

In social set up we see many instances of entrepreneurial mindsets all around us – “let’s meet up this weekend, I will arrange everything ok ?”; “hey can we all log in for casual chat on zoom today?”; “let us move on this plan”; “let us crack this project”. In office, home, social context we all display entrepreneurial mindset. The difference is that an entrepreneur drives things to build a business.

Entrepreneurial mindset is not necessarily for generating commerce. It is the intent quotient. It could be for having a holistic lifestyle. Today entrepreneurial mindset is one of the biggest societal requirements as we rebuild the world, nation and ecosystem. With so much of ambiguity all around, an entrepreneurial mindset to stay strong, survive and take charge will be needed by everyone, not just entrepreneurs.

Also read: Five things to know as an entrepreneur

Entrepreneurial mindset at life, work, business

Employees with high entrepreneurial mindset will be much sought after. In organisations the word ‘intrapreneur’ has been used for some time. The purpose is to identify and support an entrepreneur out of an employee who would create a new idea and monetise it. Today when businesses are at risk, a society with an entrepreneurial mindset will truly pave the path for – ‘live and let live’. Society with an entrepreneurial mindset will not criticise but will participate; not wait and suffer but will innovate and discover new ways to live life in high constraints; will not merely sleep, eat and get lazy but will find creative ways to stay fit and be productive.

Simply put, people in a society with an entrepreneurial mindset will not be cynics, lamenting, playing victim but will be more energised, looking to find solutions, never give up on progress and most importantly with a high desire to live life and create progress. Business owners need to take charge but at a different level. They need to display entrepreneurial spirit to introspect, plan, reskill, strategise, innovate. They need to keep themselves physically and emotionally fit so that they can survive this period. Even to do this an entrepreneurial mindset will be needed.

Entrepreneurial mindset – born or acquired?

As much as one wishes that there is some research to put a finger on the point and make a decisive statement, for now we will keep it an open debate. The time we are living today is unique and more discussion on this point will happen and so will research to validate this point.

However, I would say acquiring this is not impossible. That is why I chose the word entrepreneurial mindset. In many cases these are latent attributes and exist within all of us. It may be in our family members or even the support system help back at home or office. But we never saw it in them, our frame of reference only looks and scans the workplace. But what happens when we change the turf? When home becomes workplace? Then entrepreneurial mindset will be manifested in how each one can contribute with highly constrained resources.

Imagine if we keep this experience of our entrepreneurial spirit when the world reopens, we can generate huge proportion of productivity. So many of us have acquired or leaned to develop an entrepreneurial mindset during these unusual times. I am of the firm opinion that these moments of entrepreneurial mindset will redefine a new personality amongst each one of us.

Also read: Reset and reboot: Vision and business goal tips for 2020

Benefits of entrepreneurial mindset

The new norm post 2020 will be a period of since we will be in a super VUCA (Volatility, Uncertainity, Complexity, Ambiguity) moment which perhaps appears once in a century, entrepreneurial mindset will be very beneficial in all aspects of life.

• Students: Used to a system, timetable, schedule - an entrepreneurial mindset will help them to be more responsible find creative and productive ways to spend their time.
  
  
• Professionals: Being managed remotely, with changed working environments, will have to be productive in a creative way.
  
  
• Business owners: To meet the uncertain times there is a high need to be operating with an entrepreneurial mindset as the moment requires one to be engaged productively. Income generation maybe impacted, so it is important to take scenarios and situations with an entrepreneurial mindset.   
       

Entrepreneurial mindset - need of the new norm

In order to live through, reorganise and maybe start again from scratch will require a herculean effort. Such effort after having been locked in for a long time and with depleted resources will not be a cakewalk. Even seasoned professionals and businessman will have to unlearn and learn new entrepreneurial mindsets. Existing and regular ways may not be feasible as the world will be a changed one. Even to adopt and adapt new technology which was once considered luxury will now be an input to output. I would refrain from calling this positive attitude, stay calm etc. as these are not time for a cliched.

People with an entrepreneurial mindset will not be cynics, lamenting, playing victim but will be more energised and most importantly with a high desire to create progress. 

Reinvention is a combination of entrepreneurial gut, risk taking ability combined with a monk mindset of looking at the big picture, not losing cool, frugal and resourceful and finally making effort to see a return not immediately. And all this at a time when you are very successful. Starting again when you are very successful will need a strong reason, sometimes there will be no reason except to move on. This state of equanimity will need entrepreneurial mindset.

As the new norm post Covid sets in, entrepreneurial mindset aka intent quotient will be the determining factor of how we deal with ourselves, move in the journey till we find the destination. Entrepreneurial ability may be a key factor to build emotional immunity within people in the society. I am certain not only will humankind win this battle but will also be prepared to take on anything further by developing an entrepreneurial ability.  

Also read: New paradigm for people and business

Image source: shutterstock.com

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