The Individual

Entrepreneurial Mind-Set
Objectives
To describe the entrepreneurial mind-set
To present the major sources of information that are useful in profiling the
entrepreneurial mind-set
To identify and discuss the most commonly cited characteristics of found in successful
entrepreneurs
To discuss the dark side of entrepreneurship
To identify and describe the different types of risk entrepreneurs face as well as the
major causes of stress for these individual and the ways they can handle stress
To examine entrepreneurial motivation
The Entrepreneurial Mind-Set
Who are Entrepreneurs?
Common Characteristics Associated with
Entrepreneurs
Commitment, Determination and Perseverance
Drive to Achieve
Opportunity Orientation
Initiative and Responsibility
Persistent Problem-Solving
Seeking Feedback
Internal Locus of Control
Tolerance for Ambiguity
Common Characteristics Associated with
Entrepreneurs
Calculated Risk Taking
Integrity and Reliability
Tolerance for Failure
High Energy Level
Creativity and Innovativeness
Vision
Self-Confidence and Optimism
Independence
Team Building
The Dark Side of
Entrepreneurship
Entrepreneurs Confrontation
with Risk
Business involves risk
Typology of
Entrepreneurial Style
Types of Risk
Financial Risk
Career Risk
Family and Social Risk
Psychic Risk
Stress and the Entrepreneur
What is Entrepreneurial Stress?
Function of discrepancies between a persons expectations and ability to meet
demands.
Discrepancies between the individuals expectations and personality.
Constant engagement and interaction with relevant constituencies such as customers,
suppliers, regulators, lawyers, and accountants.
Lacking the depth of resources and multi-task.
Type A Behavior- impatient, demanding and overstrung.
Type A Personalities
Chronic and severe sense of time urgency.
Constant involvement in multiple projects subject to deadlines.
Neglect of all aspects of life except work.
A tendency to take on excessive responsibility.
Explosiveness of speech and a tendency to speak faster than most people.
Sources of Stress
Loneliness
Immersion in Business
People Problems
Need to Achieve
Dealing with Stress
Networking
Getting Away from It All
Communicating with Employees
Finding Satisfaction Outside the Company
Delegating
Exercising Rigorously
Entrepreneurial Ego
Overbearing Need for Control
Sense of Distrust
Overriding Desire for Success
Unrealistic Optimism
Entrepreneurial
Motivation
Model
Q&A