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Chapter 3: Tools for Digital Entrepreneurship

Chapter 3.1: Entrepreneurial Mindset

Introduction

An entrepreneurial mindset helps leaders create value by “recognizing and acting on opportunities,
making decisions with limited information, and remaining adaptable and resilient in conditions that

are uncertain and complex,” said Rowena Barrett, pro vice-chancellor for entrepreneurship at the

Queensland University of Technology.

Having an entrepreneurial mindset is a prerequisite for setting up a business. The approach of an
entrepreneur is different from that of an employee or even a business owner, as is more focused on

the business management of an established business model.

Having the mindset of an entrepreneur helps us to detect opportunities, set goals and develop

projects from scratch, with a vision focused on improving society and bringing value to the customer
while making profits. The entrepreneur creates disruptive and innovative projects that transform

the market or improve what already exists.

What is an entrepreneurial mindset?

The term "entrepreneurial mindset" refers to a way of thinking and behaving that includes attitudes
and traits common to entrepreneurs. Willingness to take risks, creativity, innovation, proactivity,

and the ability to find opportunities in challenging situations are characteristics of this mindset.

An entrepreneurial mindset is a set of beliefs, knowledge, and thought processes that equip people

to recognise opportunities, take initiative, and succeed in diverse settings (CURE-E, n.d.).

It accompanies the mental structure of a business creator/entrepreneur. To develop a business

project, we to analyze and know, but the most important is to have an entrepreneurial mindset.

With this way of thinking they are capable of:

• Recognising the market's conditions and the competition's shortcomings.

• Bringing a new venture to profitability.
• Determining several methods or sources of funding.

Project: GameON - 2021-1-ES02-KA220-YOU-000028541 9