Article Paul Coyle, Director, Entrepreneurial Mindset Network, France.

Keywords: Entrepreneurial mindset, entrepreneurial behaviours, entrepreneurship, education, entrepreneurial ecosystems.

Introduction

Once again, as with all issues of the eZINE, it is a real pleasure to have such a range of strong articles, written by authors from around the world. The authors have been very generous with their time and willingness to share their insights and inspiring personal stories.

In this article, I offer a personal commentary on the eZINE articles and attempt to identify some of the key lessons. The articles are from authors in 8 different countries (Bosnia & Herzegovina, Brazil, Ecuador, Indonesia, Morocco, Qatar, Romania, and Switzerland) and it is possible to determine at least 4 unifying themes shared by these stories:

1. The value of the entrepreneurial mindset
   
2. Educating people about the entrepreneurial mindset
3. Convincing people that a career as an entrepreneur is desirable and possible
4. The power of entrepreneurial ecosystems

It is to be hoped that the lessons from these stories prompt all our readers to undertake personal reflections and that they stimulate ideas for action.

The value of the entrepreneurial mindset

Our authors are champions for the entrepreneurial mindset and the importance of entrepreneurial behaviours.  The behaviours they have identified in their stories are well-aligned with the 7 entrepreneurial behaviours that are advocated by the Entrepreneurial Mindset Network and contained in its mnemonic of the word MINDSET.  For each of the 7 entrepreneurial behaviours, I have identified the corresponding behaviours identified by our authors in their articles.

[M] Meet real needs

Behaviours identified by the authors: understand your market and your value proposition, and validate your business idea by collecting data from potential customers & partners. 

[I] Innovate

Behaviours identified by the authors: re-ask supposedly simple questions, create opportunities, prototype and experiment with solutions.

[N] Never act unethically

Behaviours identified by the authors: be authentic & true to personal values, be more inclusive and engage in sustainable development & the green economy.

[D] Dare to take risks

Behaviours identified by the authors: question the dominant logic, mitigate & manage risks, be prepared to make mistakes and learn from failure. 

[S] Sell

Behaviours identified by the authors: Use customer service as the best marketing tool, build trust in business relationships, surround yourself with people you really like & admire and build networks.

[E] Exercise for productivity

Behaviours identified by the authors: seek investment, invest in yourself & your team, make use of digital communications and technologies. 

[T] Take the initiative

Behaviours identified by the authors: plan how to advance steadily towards your goals, have self-belief, be persistant and have the grit to overcome obstacles.

All these behaviours apply to entrepreneurs but also to employees in the public, private and not-for-profit sectors.

Educating people about the entrepreneurial mindset

Our authors are confident that entrepreneurial thinking can be taught and that it is relevant to every academic discipline. However, they argue that a real world approach is needed, which integrates theory and practice, ideally offers an interdisciplinary experience and involves learning through doing rather than traditional lectures. 

They note that the best way to help students develop the right mindset is through exposing them to real world examples, perhaps provided by entrepreneurs from the local ecosystem.  They agree that the most powerful role models for students are the alumni who return to share their experiences as new entrepreneurs. 

Our authors identify the biggest hurdle as knowing how to help students to perceive failure as a learning opportunity and a stepping stone for their further development.  

Authors describe the detailed tuition that is needed to help students to launch a business: turning ideas into products/services, responding to the needs of the market, creating value for customers, differentiating a business from its competitors, and all the financial aspects of the business. They also note the potential for a higher purpose for entrepreneurship.  There are many big economic and social challenges in society and students have a very important role to play as future entrepreneurs.

"Are you inspired to take action? What action should you take? What is the one thing you could do that would have the biggest impact and make a real difference?” Paul Coyle.

Picture Credit Anemone123 on Pixabay

Convincing people that a career as an entrepreneur is desirable and possible

Our authors wrote about the need for educators to convince students, of every academic discipline, that entrepreneurship is a worthwhile career path that is also within their reach. Students need to be helped to understand how to make choices about their future careers and to realise that they can use the entrepreneurial mindset as an entrepreneur or as an employee.

Our authors are clear that these opportunities, for students to become the future entrepreneurs, need to be available to everybody.  They call for a more inclusive approach that would help disadvantaged groups to access entrepreneurial education, training and resources. 

The power of entrepreneurial ecosystems

The authors give numerous examples of the importance of entrepreneurial ecosystems which offer opportunities to exchange experiences, provide training and mentorship, and give access to finance and other resources. They emphasise the importance of knowledge exchange in each ecosystem, requiring dialogue between the political-administrative actors, the educators and business/industry. Such discussions can ultimately help policy makers to take more informed decisions, removing regulatory and legal barriers, and enabling a more inclusive and sustainable economy.

The value of these lessons

There are many powerful lessons that can be taken from the stories that our authors have shared in the latest eZINE.  It is to be hoped that these lessons prompt all our readers to undertake personal reflections and that they stimulate ideas for action.  How do the articles in the eZINE help you to reflect on your own context?  Are you inspired to take action? What action should you take? What's the one thing you could do that would have the biggest impact and make a real difference?  Do you have a story to share in the next edition of the eZINE?