The Four Key Ideas Entrepreneurs Essay - 1564 Words

Introduction: Entrepreneurship is a frame of mind set with which dreams, the desire to achieve and passion for innovation, all combine to embody what it means to be an entrepreneur (Busenitz et al., 2003). Entrepreneurs are habitually opportunistic when seeking prospective opportunities; therefore it is crucial that entrepreneurs should abide by four key ideas when seeking opportunities. The four key ideas entrepreneurs need to embody when seeking opportunities are, denoting the entrepreneurial mind-set, innovation, Passion, leadership and creating economic value. Through the understanding of these key ideas entrepreneurs will be able to seek out opportunities and have a better chance of becoming a successful entrepreneur. Through analysis of articles and journals a comprehensive evaluation can be used to establish why these are the four key ideas entrepreneurs should have. Through entrepreneurs such as Richard Branson, Steve Jobs, Dr. Sangeeta Bhatia and Bill Gates, we can see the entrepreneurs s uccess can be attributed to one of the key ideas that entrepreneurs should keep in mind when opportunity seeking. The Entrepreneurial Mind-Set Denoting the entrepreneurial mind-set is a key idea which is assigning different values to resources and opportunities than ordinary people. Entrepreneurship is about identifying opportunities and having the ability to pursue in an attempt to ‘make something better’ or innovate (Ma Tan, 2006). The entrepreneurial perspective needs to beShow MoreRelatedThe Following Seven Key Lessons Are To Help Any Beginner1618 Words   |  7 PagesThe following seven key lessons are to help any beginner entrepreneur strive for success with a little more ease than as if they were to tackle it without any guidance. 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Again he stated that entrepreneurship is an essential element for the development of any economy and economic and political framework condition would not affect the growth. The benefits due to entrepreneurship to community will be greater in those economies where entrepreneurs have flexibility to operate, to expand their ideas, and to obliterate