Entrepreneurial Mindset and Entrepreneurial Skills - what’s meant by that?

The topic came up again recently in one of our workshops: We need to think entrepreneurially! Colleagues should be more entrepreneurial. And then everyone nodded their heads and said: “Yes, that makes sense”. But what does that actually mean in everyday life? And how do I become an “entrepreneur”? After all, this is where three very highly chunked, undefined nouns come together: Skills, Mindset, Entrepreneur. In our organizations we first should clarify what we actually expect from each other...

Let's ask our own Digital Leader Program MyGPT version: An entrepreneurial mindset describes the ability to think and act entrepreneurially. Individuals with this mindset tend to be proactive, creative and risk-taking. They see opportunities in challenges and strive for continuous improvement and innovation. Core elements of the entrepreneurial mindset:

•  Proactivity: Employees are encouraged to take initiative and work independently. This means that they do not wait for tasks to be assigned to them, but identify and implement solutions and potential for improvement themselves.
•  Creativity and innovation: A key to success in today's business world is the ability to develop new and innovative solutions. Employees should be encouraged to think creatively and share their ideas.
•  Willingness to take risks: Entrepreneurial thinking also includes the willingness to take calculated risks and view mistakes as learning opportunities.
•  Adaptability: Companies operate in dynamic markets. An entrepreneurial mindset enables employees to react flexibly to change and find new approaches.
•  Economical basics: Employees need to understand what actions are costing the organization money (unnecessary meetings for example) and what boost productivity and revenue (better software usage for example).

Why are entrepreneurial skills crucial? Entrepreneurial skills help employees to realize their full potential. They can:

•  Identify and exploit opportunities, use resources more efficiently, build and maintain networks and develop sustainable solutions that are successful in the long term.
•  Especially if you have a hybrid or remote organization you want the colleagues to “tick” entrepreneurial even if managers are not with them.

Practical tips for promoting an entrepreneurial mindset in organizations The following steps should be taken to promote an entrepreneurial mindset in companies:

1.  Culture of open communication: create a working environment in which employees can freely express their opinions and ideas. Regular meetings and feedback sessions can help here.
2.  Access to training: Offer training and workshops that promote entrepreneurial skills - for example in creativity techniques, problem solving and innovation management.
3.  Mentoring programs: Establish mentoring initiatives where experienced employees act as coaches for less experienced colleagues.
4.  Learn from mistakes: Encourage employees to take risks and learn from any mistakes. A 'fail fast, learn fast' approach can help to respond quickly to course corrections.
5.  Innovation labs: Set up innovation spaces or labs where employees can develop new ideas without the pressure of day-to-day business.

Challenge your whole employee lifecycle on entrepreneurship. Who do we hire? Is the job description already written in an entrepreneurial way? How do we onboard and empower? How do we train and give feedback on entrepreneurial skills and mindset?

You want more entrepreneurial thinking in your organization? Let's talk!