The Entrepreneur Mindset

BY: THOMAS R COUGHLIN, PHD

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It’s the buzz word of the 21stcentury. 

And a lot of people want to be one. There are new undergraduate courses in it. There are support programs and meet-ups up at colleges. There are now more access and entry points to becoming an entrepreneur than at any time our history. 

Entrepreneurship is shaping our social landscape and the business world.

What defines being an entrepreneur? A lot of words come to mind. 

Risk-taker. Inventor. Value creator. Innovator. Tony Stark.

Image result for tony stark gif

Getting back to the real universe, not the Marvel one… in all seriousness, these are big bucket words and don’t explain the process of entrepreneurship. 

Being an entrepreneur is all about mindset. 

Let’s dive in.

Attributes of the entrepreneur are:

  1. Perseverance – strong-willed to overcome obstacles
  2. Desire – wanting to provide and make a successful product
  3. Positivity – willingness to see information as data rather than failure
  4. Mindfulness – see problems as opportunities
  5. Open-mindedness – open-ness to new ideas
  6. Being an opportunist – seeing new market niches

An entrepreneur is more than an inventor, they are someone who watches for pain points in the devices and products used by people in their daily lives. They look at the market and study unmet needs to deliver a new product into an unmet market niche.

An idea will come, work on your mindset first.

But, PhD Source, I don’t have a new idea…
Well, people with ideas will have more ideas. And if you don’t have a new one or one at all you need to relax and start studying how other people came up with a new products to meet unmet needs. 

So don’t quit your day job…yet. 

For starters we recommend, reading some stories about other successful entrepreneurs like the founders of AirBnB, Angry BirdsApple, Pinterest, etc. These can be found in a google search of Adioma and a company or app you like. For example, Adioma – How Angry Birds Started – we really like the way Adioma has set up these infographics. 

Don’t fight gravity. Always make sure there is a need.         

Some problems like gravity are not inside your ability to control. So, if it ain’t broke, don’t fix it. Don’t go reinventing the wheel. 

Finally, trust yourself and your ethics, then take the leap of faith. Even if it’s just the first step.

We’ll be going deeper into entrepreneurship and looking at the value creation matrix next.

At PhD Sourcewe want to deliver the most help possible! If this article was helpful or related to you in a particular way, please reach out via email or leave a comment below! 

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