Mindset Reengineering for Entrepreneurial Leadership

The definition of insanity

“Doing the same thing over and over again, but expecting a different result.”

- Albert Einstein

To do things different, you need to seek the right knowledge.

Who is an Entrepreneur?

• An entrepreneur is a person who has the ability to identify and evaluate business opportunities in the environment, gather resources to take advantage of opportunities and initiate appropriate actions for success

Entrepreneurs Values, Environment and Resources Synergy

Qualities of an Entrepreneur• Persistent• Commitment• Focus• Risk-taking• Good planner• Persuasive • Confident• Optimistic• Hardworking

Skills Required for Entrepreneurship

• Creative Skills• Managerial knowledge• Technical knowledge• Networking and marketing skills• Persuasive Skills• Goal setting and planning skills• Communication skills

Function of an Entrepreneur• Planning• Organizing• Budgeting• Marketing• Staffing• Directing• Controlling• Leading

Entrepreneurial judo; Bad habits

• Not invented here, no invention at all• Cream the market: satisfy big customers only• Quality: is what we invest material, time, effort

resources• Premium price: this is an invitation to the

competition• Maximize rather than optimize: one product fits

all.• Customers are passive

Mindset of a leader • “Mental models”, or mindsets, may sound like an abstract concept

but they have a very real impact on corporate operations and performance. We use the phrase to describe the brain processes we employ to make sense of the world.

• While mental models can help us to understand what is going on around us, they also simplify and filter what we see in ways that can obscure opportunities or threats. This is a problem if the model is not well suited to the environment. For example, consider the missed opportunities that resulted from applying the mindset of traditional broadcast or print advertising to the interactive environment of the internet.

• Mental models have the ability to shape or limit a company’s opportunities and responses. They can also alter the level of uncertainty it faces because the issues that are obscured by a deficient mental model can become a blind spot.

List various mindsets that may hinder entrepreneurship?

• No money, no business?

TRANSFORMATIONAL LEADERSHIP FOR INDIVIDUALSFour Core

Transformational Competencies

For More Information For Individual Development

The Transformational

Mind-set

Have good, dynamic and written philosophy

Grow In New Ways by Developing Your Own

Transformational Philosophy

Self-Mastery 1. Understand The Mind2. Unlearning is as Important as Learning

3. Grow Your Ego4. Purify and Unify the Unconscious

5. Set-up Robust Communication Links Between the Ego and the Unconscious

6. Improve Yourself Daily

Enhance Your Potential for Self-

Growth

Social Influence Reward, Coercive, Legitimate (authority), Referent (charisma) and Expertise. Coaching, Vision, Relationship, and Persuasion.

Increase Influence With the Help of

Coaching

Skills Development Know How to Develop SkillsRealize What Competencies to Perfect

through a skills-gap analysis

Understand the individual

Development Process

Learning should change ..

• Mindset changes with changing information and learning…

School/ University

Lifelong Learning

emphasis “basic” skills; exposure;access

education embedded in ongoing work activities; informed participation

problems Given constructed

new topics defined by curricula arise incidentally from work situations

structure pedagogic or “logical”structure

work activity

roles expert-novice model reciprocal learning; “symmetry ofignorance”

teachers / coaches

expound subject matter engage in work practice

mode Instructionism (knowledge absorption)

Constructionism (knowledge construction)

Life long learning perspectivesForm Complement

ing FormContributiontoward MindsetCreation

Major Challenges Media Requirements

self-directedlearning

prescribedlearning

authenticproblems

problem framing understandingevolving tasks

learning ondemand

learning inadvance

coverage is impossible;obsolescence is guaranteed

identifying thebreakdown leading to the demand; integration ofworking and learning

critics; supportingreflection-in-action

Informal learning

Formal learning

learning by beingin the world

larger, purposiveactivities provide learning opportunities

end-user modifiability

Collaborative andOrganizational learning

individuallearning

the individualhuman mind islimited

shared understanding;exploiting the “symmetry of ignorance” as a source of power

externalizationsunderstandable by all stakeholders

Teacher Student Example

authority (“sage on the stage”)

dependent, passive

lecture without questions

motivator and facilitator

interested lecture with questions, guideddiscussion

Delegator involved group projects, seminar

coach/critic (“guide on the side”)

self-directed, discovery-oriented

self-directed study group,apprenticeship, dissertation

Forming the right mindset• Understand the power and limits of mental models. To take

advantage of models, you have to know how– they shape your possibilities. How do they limit your ability to see

opportunities and threats?• Test the relevance of your mental models against the changing

environment. As the world changes, do– your models still fit? If not, how do you find new models and put

together a portfolio of models to meet future challenges?• Overcome inhibitors to change by reshaping the your thinking.

Your entire world is organised around your current models and people around you may be much slower to change.

• Transform your world by acting quickly upon the new models, experimenting constantly and applying a process continuously to assess and strengthen your models.

Personal Skills-Gap Analysis Task Knowledge/

Skills RequiredAttitude Required

Gap Identified Solution Required

Reasons for entrepreneurial learning

• Gaps• Weaknesses/ lapses• Breakdowns • Competition

• Be you transformed by renewing your mindset, jettisoning old hindering beliefs. Then you will succeed as an entrepreneur.

• Thanks for listening