Guest Post by: Tumi Frazier, founder of Tumi Frazier International
Entrepreneurship needs to be a mindset, cultivated and nurtured from an early age. Regardless of whether you want to start your own business or take ownership of your own career, in today’s world, an entrepreneurial mindset is a necessity.
Entrepreneurship is the ability to turn ideas into action; it includes courage, creativity, prioritizing, risk-taking, as well as the ability to plan in order to achieve objectives. This era calls for superior knowledge and skills; it requires individuals with critical and creative thinking; individuals with the ability to acquire, construct, integrate and apply knowledge to new settings; and problem solving informed by a robust decision-making process.
Education is critical in promoting entrepreneurial attitudes and behaviour, because ultimately mindset drives behaviour.
Entrepreneurial mindset refers to a specific state of mind which orientates human conduct towards entrepreneurial activities and outcomes. Individuals with entrepreneurial mindsets are often drawn to opportunities, innovation and new value creation.
Personal characteristics such as a sense of initiative, the inherent need for achievement, risk propensity, self-efficacy, and resilience are all necessary for young people; they provide a foundation for innovative business start-ups, improve their employability, and enhance their greater role in society. It is highly possible that students at universities are currently being trained for jobs or careers that will not exist in twenty years time, and that the careers that will exist then, have not been invented yet. Reforming our education system to the needs of the ever changing global market is necessary to enable young people to develop creativity, critical thinking, curiosity and the capacity to innovate as well as apply their knowledge to the real-world situations.
Employees with entrepreneurial mindsets are more aware of the context of their work and are able to detect and seize opportunities. However, without an entrepreneurial culture in companies and corporations, there can never be entrepreneurial mindsets, because the success of the business is not only dependent on the team’s ability to innovate, but also on the environment that encourages creativity and risk taking.
The only way to take advantage of an opportunity is to accept the risk associated with it, and this is what provides you with an edge over your competition.
Tumi Frazier is a South African entrepreneur, professional speaker, author, TV personality, consultant, and founder of Tumi Frazier International, Tumi Leadership Academy, and Tumi Foundation. Tumi is an internationally acclaimed Leadership and Change Management expert who has worked with high profile clients and organizations across Africa, United States and Europe. Tumi has authored 4 books: Courageous Stories of Inspiration; In the Midst of the Storm; Stepping Stones to Success; and Your Moment. Follow Tumi Twitter | LinkedIn
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