The Entrepreneurial Mindset

17 09 2009

An entrepreneurial mindset is described by a conglomerate of meta-physical dispositions, also known as entrepreneurial spirit, meant to cause the innovative and energetic practice to identify or create an opportunity and take action aimed at realizing it. The philosophical themes – existentialism, axiology, pragmatism, ethics – are thereby understood to be strange attractors influencing the construction of the entity’s persona as well as the concrete practices of the entity (Figure 1).

Figure 1:Conceptual Model of Philosophical Components of an Entrepreneurial Mindset (Senges 2007)

 

Composite Mindset Philosophy

Important for entrepreneurship is the “creative mindset” (Faltin, 2007) that helps entrepreneurs to create new ideas and bring these to the market in a way appropriate to create value for an external audience. Psychological research highlights that true creativity comes not from the kind of area in which one is active but whether one can conceive of something that is both “new and appropriate” (Amabile, 1996). In this way, a entrepreneurial mindset is a philosophy by which individuals engage in creative acts regardless of the type of work they are engaged in. Thus, the entrepreneurial mindset might exist in cooking just as well as web-2 innovating, it is the philosophy and the action it generate that counts – not the context.

This can be contrasted to a “managerial mindset” which deals with creating order and efficiency through controlling, evaluating, and administrating practices (Sarasvathy, Simon and Lave, 1998). An entrepreneurial mindset is distinct from ‘entrepreneurial cognitions’ in that the former signify a philosophy of personal identity and values whereas the latter signify a group of heuristics or decision-making tools that entrepreneurs use to evaluate and exploit business opportunities. An entrepreneurial mindset is also distinct from Entrepreneurial orientation (EO) which is a collective identity in young entrepreneurial firms that fosters innovativeness, pro-activeness and risk-taking among participants in the firm (Lumpkin and Dess, 1996).

The philosophic codification of the mindset of an entrepreneur follows what Durkheim felt to be the achievement of modernity: “The possibility to dynamically differentiate and elaborate values” (Welsch, 1998). Thereby, as is customary in life-philosophy, the creative and initiative aspects meant to create meaning are given central stage in a holistic (or totalitarian) approach. Peter Sloterdijk elaborates on the role of philosophy : “Philosophy is stylizing the human being with the practice of terminological gene-technology (‘begrifflicher gentechnologie’), thereby developing new taxonomies of human existence” (Sloterdijk, 1999). He further explains that philosophy creates meta-physical concepts of human beings and their condition, which serve as archetypical development paradigms when perceived and internalized. One example given by Sloterdijk, is Freud’s creation, or the meta-physical engineering of the Oedipus complex. The proposed philosophical model of an entrepreneurial mindset is meant to contribute such a typology.

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Thinking About Joining A New Network Marketing Company?

13 01 2009
Here’s what should you look for in a company.

At the top of my list is a quality product or service. So here’s what you should look for in a product or service:

  • Exciting. If you’re personally excited by the products and use them yourself, your enthusiasm will be your best sales asset.
  • High quality. Your long-term residual income is based on the product’s ability to deliver on its promise and maintain customer loyalty. You’ll never have to make an apology for a high-quality product.
  • Fairly priced. MLM products don’t usually win as the low-cost provider. However, high quality doesn’t necessarily mean overpriced. Make sure you or your customers are comparing apples to apples when price-shopping the competition.
  • Lifecycle. Are you at the beginning phase of a new product with a viable and growing market demand?
  • Unique. If it’s ‘another one just like the other one,’ you’d better look for a special marketing angle that separates this product from the pack.
  • Exclusivity. Be cautious if it’s available through other channels of distribution such as retail stores, catalogs or other MLM companies.
  • Satisfaction guarantee. A company that doesn’t stand behind its product will surely leave you embarrassed or potentially responsible to your customers.
  • Sales aids. Make sure the company has promotional literature that adequately supports product benefits and promotes retail sales.

Once you’ve found a product or service you can believe in, evaluate the company based on your personal needs and beliefs. Here’s what to look for:

  • Support materials. Company literature should be easily understandable and provide a professional image to support your business activities.
  • Policies and procedures document. Read and understand what you can and can’t do. These internal distributor regulations are designed to protect the integrity of the business and deal with the occasional renegade distributor who can ruin things for everyone. If the company offers no policies document, heed this as a red flag. This company either hasn’t had good MLM legal advice or doesn’t plan to stick around very long.
  • Corporate executives. They should be committed to quality and integrity, and have genuine concern for their distributors. If possible, interview them if possible, or at least talk to other successful distributors for their thoughts.

Ask:

  • Does one or more have experience in MLM?
  • Are experts involved in areas of administration, financial management, distribution and commissioning software?
  • Has the company hired professional consultants to help in areas of weakness?
  • History. How long has the company been in business? How many countries does it operate in? How many distributors does it have? What are its gross yearly sales? Is it well-funded? If it’s privately held, this information might not be readily available, but it’s worth a try.
  • Compensation plan. Does it sound realistic in its promises? When something sounds too good to be true, it usually is. Was it designed by competent experienced MLM experts? Does it fit your needs for part-time income or a full-time career opportunity? Does the plan use time-tested and proven success concepts, or are you part of an experimental program? Look for proof of success of this concept as used by another MLM. Have your sponsor or a company official explain it to you in detail.
  • Philosophy. Does it fit your style and make you feel comfortable and proud to be part of the organization?
  • Sales and training. Does the company or your upline offer regular support sessions or telephone training?
  • Commission software provider. Did a reputable company provide the software that will determine your bonuses? If new software has just been installed, it’s not uncommon to see glitches for a period of time that can affect your anticipated income stream.
  • Communication. Look for good communication in the form of newsletters, voice-mail capabilities, national conference calls and a strong Web presence using all available communication technologies.
  • Protection. The only required investment should be a noncommissionable sales kit. All other investments should be optional. Beware of large inventory load enticements or offers to buy positions. In case things don’t work out for you, make sure there’s a buy-back policy on your unsold inventory.

One important thing to keep in mind –

If you’re inexperienced, even selecting the right company won’t assure your success. Choosing the right upline sponsor to support you can be equally important. Is there someone in your first three upline levels who has had substantial success and can show you the way? This can be your shortcut to accelerated growth and my strongest recommendation for gaining early momentum.



To YOUR All-Star Success!

Benjamin T. Kee
864-610-0376
Greenville, SC., USA
http://ProspectLikeAPro.com
http://Contact.BenjaminKee.com

PS. To find out what company/opportunity I recommends, visit the link below: http://JoinBensTeam.BenjaminKee.com