So what lies behind business success? Leaving to one side the numerous internal and external forces that play upon any business, the entrepreneurial mindset within leadership and the workforce is an essential ingredient.
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The entrepreneurial mind is unique and requires unpicking. The public view of the entrepreneurial mind is evident in an entrepreneurial personality – the openness, the work ethic, resilience, confidence, and the social skills – all which play an important role in shaping behavior and actions in business.
Digging a little deeper, we find five core characteristics that have a significant impact on behavior: an intense passion for work and tackling challenges; a relentless curiosity; the ability to be comfortable with failure and to learn from it; the ability to manage risk; and, lastly, a willingness to challenge the status quo when required to identify new opportunities or better approaches.
But what truly motivates the entrepreneurial mind? What makes it tick? At the deepest level, entrepreneurial motivations are about more than the accumulation of wealth. The essence of the entrepreneurial mindset can be expressed as "a restless desire to do better". This essence transcends markets, languages, business sectors and culture.
The dynamic, restless energy of the entrepreneurial mind makes it hard to switch off, and this drive "to do better" is powered by the belief that everything can and should be better, both professionally and in their personal lives. It is not necessarily about being better than others, but it is about never being entirely satisfied and striving for more. And this is partly what explains the desire to bring about corporate and social change. This is the essence that binds all of the business leaders in this study, but there is not one single driving motivation; instead, we have uncovered six.