The

Entrepreneurial
Mind
INTRODUCTION TO
ENTREPRENEURSHIP
Entrepreneur
- an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards.
- commonly seen as an innovator, a source of new ideas, goods, services,
and business/or procedures.
- someone who has the ability and desire to establish, administer, and
succeed in a startup venture. 
- someone who provide jobs for fellow countrymen.
Entrepreneurial Mind Frame

 Itallows the entrepreneur to see things in a very

positive and optimistic light in the midst of
crisis or difficult situations.

 In Chinese writing, the word crisis is composed

of two characters. First character means danger
while the second character means opportunity.
Entrepreneurial Mind Frame

 Passion is the great desire to attain a vision or

fulfill a mission. It is about wanting something so
much that a person would be willing to totally
devote oneself to the quest.

“People with passion can change the world for

the better”
- Steve Jobs
Entrepreneurial Heart Flame

 It is also about emotional intelligence or EQ, which is often manifested in

the entrepreneurs’ efforts to nurture relationship with customers, employees,
and suppliers.

 The entrepreneur also looks after the interests of his or her people by
motivating and encouraging them to be the best that they can be.

 This creates caring culture within the organization that brings about synergy
among the people working toward a common vision.
Entrepreneurial Gut Game
 It refers to the ability of the entrepreneur
to sense without using five senses. This
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

3. The Business Mind

Entrepreneurial Mind
 The creative mind conceptualizes and designs
a product that consumers find some use for.

 Itproduces a product that is pleasing to see,

touch, smell, hear and taste.
Entrepreneurial Mind
 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 and operational.
Entrepreneurial Mind
 The business mind harnesses the potentials of
new products by creating the market for them.

 It also organizes sufficient forces and

resources to develop, launch, and
commercialize the new product in order to
maximize its market value.
 5 Essential
Characteristics
of
The Entrepreneurial
Mind
Characteristics of the
Entrepreneurial Mind
1. Creativity
the seed of entrepreneurship is the ability to
-
see things differently.
- it might be a new products or new
processes, entrepreneurs are driven by the
uncanny knack to see holes in the marketplace
and devise innovations to fill them.
Characteristics of the
Entrepreneurial Mind
2. 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.
Characteristics of the
Entrepreneurial Mind
3. Comfort with uncertainty Similarly
- a distrust of prediction and analysis creates
an atmosphere where uncertainty rules.

- uncertainty is the very essence of

entrepreneurship
Characteristics of the
Entrepreneurial Mind
4. 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.
Characteristics of the
Entrepreneurial Mind
5. 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.