Entrepreneurial Mindset – Why it matters?

Vol. 26, Issue 21, 28 March 2024
“Entrepreneurship” is undoubtedly One of the most discussed topics of our academic journey in Finland. I’m sure some of you wonder why entrepreneurship, Why not the norm, why not the familiar? The answer lies in the main qualities of an entrepreneur. That’s called “Entrepreneurial Mindset”.
What is an entrepreneurial mindset? What makes it different than the mindset of a normal individual? As a part of the Digital International Business program, we visited the Kouvolan Lakritsi and we witnessed the key characteristics of an entrepreneurial mindset from Mr. Timo Nisula. In today’s fast-paced world, the ability to adapt, the constant hunger for growth, innovation, resilience and fearlessness when it comes to risks are more important than ever. Although at its core entrepreneurial mindset is about risk-taking, creativity and hunger for growth, it’s not always about starting or maintaining a business. Whether you’re an entrepreneur or a professional, having an entrepreneurial mindset will help you in both your professional and personal life to achieve your goals.

As we witnessed from Mr. Nisula, even after winning the “best licorice in the world” award which is the highest reward there is to gain by a company to be called best in the world, his hunger to be the “best licorice producer in the universe” showcased his hunger for constant growth. His stance on continued hunger for growth taught us that entrepreneurship is not a destination but a journey itself. This drive for growth also fuels his passion and pushes his company forward even in the face of competition which he sees as opportunities but not as competition which proves the power of an entrepreneurial mindset pushing individuals to seek out new opportunities, expanding their skill sets and striving to make a positive impact in the world around them.
Innovation and creativity are one of the core values of an entrepreneurial mindset. Not bound by conventional thinking they push to look for possibilities in situations when others see obstacles. Mr. Nisula’s stance on targeting elite clientele with the limited stock he has is one of the examples of creativity and innovation. Rather than looking at the obstacle as a roadblock, innovating a way to add more value to his products by combining his products with world-renowned brands is a creative way to overcome the obstacles by creating more opportunities for his company to make more profits and that’s why having an entrepreneurial mindset matter.

Risk-taking is the key value of having an entrepreneurial mindset. Entrepreneurs view failure as a steppingstone to achievement rather than something to be afraid of. Rather than being afraid of the possibility of things going wrong, they concentrate on reducing risks and picking up lessons from failures. Their willingness to take calculated risks is what distinguishes them and allows them to take advantage of possibilities that others would pass up.

Finally, having an entrepreneurial mindset is not only for entrepreneurs. All of us can reap the fruits of having an entrepreneurial mindset if we drive ourselves to master the qualities of having this mindset. Embracing the qualities of an entrepreneurial mindset can set you apart in a crowded market whether you’re an entrepreneur or an individual who strives for excellence. So don’t be afraid to be different, welcome change and take calculated risks. Look for possibilities when you see a challenge and always be hungry for more. And I promise you that’ll open up a whole other world of opportunities for you.