To Lead the People, Walk Behind Them

Friday, September 19, 2008

The Top 10 Characteristics of the Entrepreneurial Mindset

In their book, The Entrepreneurial Mindset, Rita Gunther McGrath and Ian MacMillan offer insights on the characteristics of successful entrepreneurs in today's fast-paced environment. They encourage us to stop acting by the old rules and start thinking with the discipline of habitual entrepreneurs:

1. Action-oriented

2. Able to simplify

When you are moving fast, complexity only creates confusion and delay. A huge part of becoming an entrepreneurial leader is learning to simplify complexity so your co-workers can act rapidly and with self-confidence.

3. Passionately seek new opportunities

Their greatest impact occurs when they create entirely new business models - how revenues are made, costs are incurred, or operations are conducted.

4. Pursue opportunities with enormous discipline

Most maintain an inventory of unexploited opportunities which they revisit often.

5. Pursue only the very best opportunities and avoid exhausting themselves and their organizations by chasing after every option

6. Ruthlessly disciplined about limiting the number of projects they pursue

7. Focus on execution

They execute, that is, they get on with it instead of analyzing new ideas to death.

8. But it's adaptive execution

They are able to change directions as the real opportunity, and the best way to exploit it, evolves.

9. Engage the energies of everyone in their domain

10. Engage the energies of everyone outside their domain too

So, do you have it ALL????

1 comment:

stacie28 said...

great top 10 characteristics of successful entrepreneurs! I also dream to be a great entrepreneur someday! I personally admire famous entrepreneurs like Yuri Mintskovsky or Mark Zuckerberg. I would like to meet them in person!