Students from low-income households find it an uphill task to reach college. But, J.B. Scramm’s College Summit is a social entrepreneurial initiative, which is trying to change this scenario by providing mentoring and workshops to thousands of students.
In the rural belts of Brazil, most of the farmers are not able to make a living from their land. Neglect on the part of government, depleting soil and a lack of infrastructure, all force hundreds of thousands of rural families to move into the urban slums. Fabio Rosa persisted with his social entrepreneurial skills to stop this tide by finding low-cost methods of electrifying the rural areas of the country.
Typically, entrepreneurial organizations strive in a number of versatile ways to improve social standards and create lasting impacts. A brief view into the concepts and ideology behind these organizations is elaborated in the following paragraphs. Social entrepreneurial organizations work bottom to up and they give value to the opinions of the people being served by them.
These organizations are devoid of any kind of bureaucratic structures, which work on top to down communications and where the leaders only give focus to themselves. At Child line, a social entrepreneurship initiative in India reaches street children through a child who has already been helped by the organization. Even though they may not be professional, but they deliver effectively when it comes to creating social impact. The bottom to top structure enables the already helped children to continuously keep updating the organization about the ground developments.
Another attribute of social entrepreneurial organizations is that they remain alert to exceptional outcomes and information. Contrary to the institutional mode of doing things in the traditional ways, these organizations detect results in unexpected and strange ways.
These organizations are practical and they design tangible solutions for real people. Since social entrepreneurial organizations can achieve through objective by mobilizing a number of resources, not primarily financial in nature, they focus solely on their goal and use different means and methods to achieve it. A member of Ashoka in South Africa sought to bring comfort and ease into the life of poor people affected with AIDS. When she came to know about AIDS as a stigma, she refocused her dedication in providing general health support to ill people who were dying out of the disease. Here it did not matter what name she gave to her work. Last but not the least social entrepreneurial institutions focus genuinely on human qualities.
So, how important is an entrepreneurial mindset and what are theses 7 magical keys or skills that you will need to acquire or adopt?
1. Attitude With Passion
I believe that this must be the starting point on any quest of this magnitude. When moving from the mindset of an employee to that of an entrepreneur, you need to crack this specific key. If you fail to understand the significance of a passionate attitude, the remainder of your quest may possibly be out of your reach.
To me, attitude with passion is everything, when it comes down to it, with the correct attitude, you either complete an action or not. By adopting the right attitude you either stay on track and keep moving in the direction of success or you fall by the wayside.
To be highly competitive in this current climate, I believe that separating attitude and passion, is a big mistake. So, can you have a winner’s mentality and exclude being passionate about what you do? I do not think that you can prise these two apart and win.
Your passionate attitude says all there is about you and your future. It will seep into absolutely everything that you do moving forward.
The only question at this stage would be to ask, ‘Are attitude and passion enough, on their own?’ I will let you answer that vital question.
2. Clarity Of Action
Clarity of action is an immense skill set to establish and the power of taking action is driven by clarity.
The important points here are knowing exactly where you are going and being prepared to take the necessary steps to make the dream or ambition turn into a reality. It is of the utmost importance that an entrepreneur has to accept that failure along the way is a part of the success trail and that he or she will learn from failure as well as success. An entrepreneur has to roll with the punches, like a boxer and not be too concerned when things go wrong.
As Tony Robbins states, ‘Clarity is power.’ and I agree, but ‘clarity is simplicity’. The combination of these two jewels cannot be underestimated.
So, in other words what entrepreneurs seek is to know their outcome before they embark on a new project, because this keeps their target clearly in focus. On the other side of the coin it also suggests to us not to over complicate things. An entrepreneur’s reasons are also key in developing the correct mindset on an ongoing basis but we will not be covering this subject in this article.
Once clarity is organised or known, entrepreneurs can just get on with the job in hand and develop and implement a massive action plan. If the entrepreneur adds persistency and consistency to the mix of clarity and simplicity, they will be well on the way to grabbing the prize.
Entrepreneurs are clear and concise on what they want and pro-activity will be moved onto the fast track and must be.
3. The Quest For Knowledge (personal development)
To continue the move towards gaining an entrepreneurial mindset the budding or seasoned entrepreneur will have to develop a thirst for continual knowledge and training. They must never stop their quest to find out more.
The successful entrepreneur will know that you never stop learning and although developing leadership is a key ingredient, he or she will be prepared to listen to people as well as lead his team.
This is definitely one of the areas which will assist you in developing a magnetic personality and charisma. Also your internal focus and monkey chatter have to be self monitored, you know, how you relax and also what you say to yourself on a consistent basis. Remember you will become what you focus on the most.
4. Innovation and Creativity
During the quest for that elusive complete mindset, a student should be flexible with everything that they attempt and always be on the lookout for new, fresh and creative ways of reaching their goals. They should always innovate, adapt and overcome challenges, problems and obstacles in any way that they can. Being prepared to take on necessary risks when required, is also an important factor to be considered.
Being open-minded and a free-thinker are also keys in assisting creativity and confidence. These skills will duplicate and cascade down into any team setting or group environment.
5. Honesty and Integrity
If you take any one of these pieces of the jigsaw out of the equation, you would reduce your ability to reach the lofty heights that you have tasked yourself with. So, being honest and using integrity become a way of life and they have to become daily habits and a part of who you become as a person.
When implementing a plan or communicating with others, ethics and morality pay a huge part in building the correct entrepreneurial mindset. Although effective decision-making is a an art and a critical component on the success trail, those decisions have to be ethical and moral. In this day and age anything less probably will not be tolerated by people in your drive for excellence.
6. Progressive Problem Solving
Any person wishing to be considered to be a top entrepreneur will need to become a progressive problem solver. If they learn to solve a person’s problem, they will be an attractive person to work with because they just became valuable to the marketplace.
How does an entrepreneur become great at progressive problem solving? It starts by asking the right questions, understanding the problems that are being faced and reducing the problems to its simplest terms.
Having identified the problem or challenge, never talk about the problem again, only talk about the solution. Then an entrepreneur would go to work on finding the answers with a winning attitude and act as if the problem was already solved.
7. Your Philosophy Of Belief
This is all about your total philosophy, about who you are and what you believe in as a person. I think this ties everything together and completes the package. Your philosophies are personal, but I feel that you must have philosophies which allow entrepreneurs to flourish, if you are yearning to complete your education in relation to achieving the correct entrepreneurial mindset.
I think that the first thing you have to believe in is yourself, because without that you are just going to plain struggle. You must know that you are already very good at what you do, but without adopting an inflated ego and continue to keep that belief in yourself no matter what happens.
Secondly you must have belief in what you are doing, so if you are training to be a marathon runner, business owner or guitarist, then belief in the activity is a major key. There is a big link between passion and belief here, that cannot be severed or parted.
Lastly if you are in a home business you should have total belief in your product(s). If not, consider promoting something different.
Philosophy and belief although combined here, can be separate subjects and discussed in-depth elsewhere.
I hope this has assisted you in some way to understanding the subject of developing the entrepreneurial mindset and also what I believe to be the 7 magical keys to work towards or consider when implementing on your quest.
Paul Bursey was a police officer/detective in London for 33 years and is now an entrepreneur, successful network marketer, internet marketer and publisher.
He is absolutely committed to coaching and assisting people succeed in online businesses.
What is a business structure?
A business structure relates to how the business is organised with regards to who makes the decisions and instructs which part of the business. Often drawn as a diagram, it shows the relationship between decision maker(s) and different departments within the business.
The entrepreneurial business structure
In the entrepreneurial business structure, any decision that needs to be made is made centrally, either by one person or at head office, the results of which are then communicated to workers. This is the most ‘rigid’ of organisational structures, as workers have little to no say or input in the decision-making process, instead having to just follow any orders that are issued.
The entrepreneurial business structure is most commonly found in sole traders with just a few employees, or in organisations which have to make decisions quickly such as publishing where there is often precious little time available to discuss things in meetings when there is a deadline that has to be met. In this instance, somebody has to make a decision quickly without having to discuss or justify it.
For a sole trader, they are often the only owner of the business, and so what they say goes. Because they own it, nobody has the authority to block or delay their decision. Whilst many may invite advice from the people they employ, they will often have an idea in their minds already about what they would like done, and so will probably just make the decision straight away themselves.
Advantages of the entrepreneurial business structure
The main advantage of the entrepreneurial business structure is the ability to make decisions quickly. Without lengthy meetings and discussions, or proposals sat waiting for approval, decisions can be made pretty much instantly and changes put into place. This allows businesses to quickly adapt to any change in market conditions. It is also a leadership style which is used by governments in emergencies, with virtually all countries having laws in place which allow legislation to bypass parliament or equivalent bodies and be enacted when speed and response time is top priority.
Another advantage is that it is one of the least expensive business structures available, and in most cases will be the cheapest option. This is because there are no layers of middle managers to pay or maintain (e.g. company cars).
Thirdly, everybody knows who is in charge and who they are accountable to, removing the chances of confusion being created if different department heads asked for different things from workers (e.g. the head of the production department asks workers to improve the quality of the product by spending more time on each, at the same time as the head of the finance department asks for increased output to generate more revenue).
Disadvantages of the entrepreneurial business structure
Despite its advantages, there are a number of disadvantages to the entrepreneurial business structure.
Because of its autocratic nature, with workers being told what to do with no input on the decision, there is always a real danger of them losing morale and motivation if they strongly disagree with the decision. The extent of their discouragement will depend upon a number of factors such as how strongly they disagree, as well as the amount of explanation (if any) they get as to why that particular decision was made.
Those making the decisions may not know as much about the problem, market conditions etc. as they think they do. Whilst they make quick decisions, they are not necessarily the best decisions, and it may be better for the business to have a specialist manager in place who is an expert in a particular area.
It may also not be a suitable organisational structure if the business grows, as the decision makers have simply too many decisions to make. As stated earlier, decisions can be made quickly in an entrepreneurial business structure. But if there are so many decisions to be made causing delays as different employees wait for answers, it may actually be quicker to appoint a manager and delegate responsibility to them for making certain decisions.
Entrepreneurial opportunities are everywhere in the world, but are they all worth putting time and effort into them? In order to get expected results out of an entrepreneurial opportunity, there are certain qualities that it must have. Many entrepreneurs struggle financially and suffer from frustration after putting all their time and effort into a business that fail at giving them the results that they were hoping for. In this article, we will go through and give a review of important qualities an entrepreneur opportunity must have in order to dodge disappointment.
Long Term Income?
Long term income is the most important quality because any investment that lasts, guarantees a safer financial future. There will never be a time where income is not needed in the world, therefore long-term income must be in position to last for generations. Many entrepreneurial opportunities focus mainly on benefits for the present time with no intentions on the future. History has proven that anything could happen at any given time where income will always be needed. Inflation proves that the value of a dollar is not remaining the same as time progresses. Prices rise and our needs tend to change as the years travel forward.
Does your entrepreneurial opportunity provide residual income? Residual income is an income received on a regular basis with little effort required to maintain it. Receiving residual income is almost like receiving a check every month for something you didn’t do. This quality is important because it allows you to receive cash rather you are sick, on vacation, or just doing the things you enjoy. Residual income is how your money work for you rather you working for your money. The wealthiest people in the world today favors residual income and it continues to create more and more wealth.
Need Your Presence?
Does your opportunity require your presence in order to generate income? Many entrepreneurs start a business and spend many hours managing it. Instead of taking advantage of an opportunity, these entrepreneurs create full-time jobs for themselves. This means that other entrepreneurial opportunities are missed out on because they are all tied up into a job. This mistake is what keeps some entrepreneurs at certain income levels and hold them back from creating multiple streams of income. If an entrepreneurial opportunity require your presence in order to generate income, it isn’t an opportunity… it is another job.
Entrepreneurial opportunities create a lot of skepticism because of failure rates and opinionated statements from ones who have failed multiple times. Finding an opportunity with these three main qualities can guarantee success and a comfortable financial background. If you ask yourself these three questions before investing and the answer is yes, then that opportunity is worth the risk.