How to cultivate and sustain an entrepreneurial spirit?
by Arina Smith Entrepreneurship 25 April 2020
I would like to start with an important question, “Do you understand what the entrepreneurial spirit is? Well, to be frank, many people interpret it in the wrong way. They believe that one day their name will be on the richest and the most successful persons list if they work hard. And they consider this thinking as their entrepreneurial spirit.
Do you also feel that way? Then pause for a moment and read on to learn how to actually recognize and cultivate your entrepreneurial spirit.
Most people are highly fascinated by the term entrepreneurship. And many think that entrepreneurship is all about making a lot of money, living a luxurious lifestyle, and being famous.
Nonetheless, the entrepreneurial spirit is about learning to do what you really want to do with experiments. It is about experimenting with your intellect, money, and resources to execute your plan. In this post, I will be sharing how to develop and keep your entrepreneurial spirit alive
Identify and Recognize Entrepreneurial Spirit
According to John Ethan Michael, a leading Georgia-based businessman, the entrepreneurial spirit is there in each and every one of us. It lies dormant, waiting for an opportunity to burst out. As an individual that wants to be successful in life, it is necessary to identify that spirit. Once you are able to identify, it, you can cultivate it in a successful fashion. While every entrepreneur starts small, the key is to have a vision for the future.
Do you want to start a business? It’s a fact that whatever you do in your life, you’re going to face obstacles. It doesn’t matter whether you’re working in a small- industry or an MNC, or if you have your own business, you’re going to face challenges everywhere. However, if you’re not clear with your intention, the challenges may overwhelm your efforts.
You may feel like giving up at this point, but it is your intention that will get you back on track. So, develop this habit of introspecting why you want to start or do something. But, don’t think too much, set a limited time before you start your day, foresee your day in your mind, and write down the answers you get when introspecting.
You will discover your true intent in this way, and it will fuel your efforts. When you find your true intention, it’s going to drive you to work. This drive is your entrepreneurial spirit, keep it alive by introspecting your intention every day.
When you practice this, you’ll gain more control over what you’re supposed to focus on and what these things are meant to eliminate. You will also make conscious choices that will increase your productivity and improve your performance.
Entrepreneurship Isn’t A Position, It’s A Mindset
Do you think that entrepreneurship means starting a company? Then you are mistaken, no doubt a large number of entrepreneurs are able to start and run companies of their own. However, don’t consider that entrepreneurship means you need to be a founder or owner of a company. In fact, entrepreneurs are the persons who can find opportunities inside a problem and pursue them to create something meaningful. They consider entrepreneurship as a mindset that can accept every problem as an opportunity to find a solution.
If you are running a company then, encourage your employees to develop this mindset. Give them challenges to come out of their comfort zone and deal with it to find a solution to the problem by themselves. Spread your entrepreneurial spirit to inspire your employees and develop an entrepreneurship mindset.
Encourage Your Employees and Team for Innovation
Innovation requires a change in technologies, management processes, policies, etc. Despite the fact that innovation is taking place at a faster rate than before, still, some companies are not ready to adopt innovation. Many people do not want to adopt new methods, technologies, or any other management changes within their organizations. As a leader, you need to encourage your team for innovating new ideas, solutions, or new methods.
To keep innovation alive within your company, you can conduct innovative thinking programs to share ideas. Remember that no idea is a bad idea, give an opportunity for every employee to share their ideas. This will not only improve their confidence, everyone within your organization will feel satisfied and motivated to work. In this way, you can sustain entrepreneurial spirit within your organization.
Conduct Open Conversations
When you conduct an open conversation within your organization, your employees get a chance to share their ideas, suggestions, and queries. It fuels the entrepreneurial spirit and creativity of your team members. This also helps your employees to improve the cohesiveness among the team.
These conversations broaden their thought process, they get different perspectives to a single problem, they learn, experiment, and think out of the box solutions. In these conversations, your employees get a clear picture of your organization and it allows them to think from a broader perspective. When you share a different level of information with your employees they think like an entrepreneur.
Employ People with Entrepreneurial Spirit
Although entrepreneurial spirit can be cultivated within your organization, one easy way is to hire people with an entrepreneurship mindset. When you interview candidates carefully observe what they are saying when you ask them about their future goals and ambitions.
You will find different types of candidates in the interview process. Some candidates may have specific goals for their future, some of them have unclear ideas about the future. However, candidates with an entrepreneurial spirit are interested in gaining experience by learning and experiment. They want to involve in the process of your organization rather than thinking that this is a path towards their own project. A candidate with entrepreneurial spirit can promote your business growth in a short period.
Finally, entrepreneurship is not about starting a new business, it’s a way of thinking that thrives on seeking solutions for any challenge. If you get out of the conforming pattern of your mind and embrace challenges, you will grow an entrepreneurial spirit. It takes a lot of time and energy to develop a way of thinking that does not consider failure as a choice. Hopefully, this article has provided you the insights to cultivate and preserve an entrepreneurial spirit.