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5 Characteristics of Entrepreneurial Spirit

Indicators of an entrepreneurial spirit

Indicators of an entrepreneurial spirit
  1. In-tune with your own passion. When people are genuinely passionate about the problems that your company is trying to solve, they will be energized by any challenge that stands in their way.
  2. Always questioning how it can be done better. The average person rarely considers how ordinary things can be made better or improved--those with the entrepreneurial spirit can't help themselves.
  3. Optimistic about all possibilities. They don't spend time thinking about what they can't do, but instead ask themselves, "Why can't I?"
  4. Taking calculated risks. They make calculated moves while understanding that there are never any guarantees of success.
  5. Above all, execution. They realize that execution is everything when it comes down to success or failure.

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IDEA EXTRACTED FROM:

5 Characteristics of Entrepreneurial Spirit

5 Characteristics of Entrepreneurial Spirit

https://www.inc.com/matt-ehrlichman/5-characteristics-of-entrepreneurial-spirit.html

inc.com

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Key Ideas

The entrepreneurial spirit

The entrepreneurial spirit is one of those characteristics in work and life that you can't teach - they form from within and over time, they become part of who we are.

It develops in the individuals who demonstrate a true passion for building something great from nothing as they are willing to push themselves to the limits to achieve big goals.

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Entrepreneurial zeal

A little entrepreneurial zeal can give you a distinct advantage in your professional life, whether or not you think you’d ever strike out on our own.

How to train your corporate mind
  1. Get Passionate. This is the key to career success and fulfillment in any field.
  2. Be Bothered by Inefficiency. Consider whether there are places you could implement solutions (or at least recommend improvements).
  3. Take on More Risk. More risk, more reward.” At work, start small by pitching new ideas or volunteering to take on a challenge or two that’s outside of your comfort zone.
  4. Brainstorm More. Constant innovation is crucial to a business’ long-term success. Schedule some time each week to really brainstorm about something that’s been on your mind. See what you come up with.
  5. Don’t Limit Your Dreams. Many people are conditioned to be realistic and practical. Rather dream big for your career.
The Greatest Showman

 ... is a tribute to the resilience and power of the entrepreneurial spirit.

It is a story of society’s outcasts finding success through unconventional means.

You're More Than You Can Ever Be

Barnum is a lowly servant with big dreams working in a wealthy household. He gets a glimpse of the life he could live if he were to rise above his circumstances.

Barnum did not obsess over his daydreams but through hard work made his dream a reality.

The Market Is the Great Equalizer

Barnum’s original museum highlighted the spectacular and unbelievable marvels of the world. Unfortunately, none of these rarities was real. 

His original museum relied on poor quality replicas of mermaids and other mythical phenomena, which were not appealing to consumers. But the lack of customers drives Barnum to go in search of real, and rare, human acts.

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How to shift a culture
If you want to shift a culture the most effective way to do it is to change who you hire. 

It’s far easier to hire for traits you need than to try to transform a person who doesn’t have...

Better at challenging assumptions

Some people ask more questions, have more doubts, and are willing to act on them. They are harder to manage since they naturally challenge authority, but if you want assumptions challenged that includes the assumption of hierarchy. 

If healthy debate is encouraged the results will be the best synthesis of different assumptions.

It takes great confidence

If you as the manager continually demonstrate that you are comfortable being challenged, or yielding your idea to a superior one suggested by a colleague or subordinate, everyone who works for you will emulate that behavior

If you dismiss challenges or yell at people who challenge you, the culture of fear your behavior creates will dominate no matter who you hire or how great you proclaim it is to challenge assumptions.

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