8 Key Components of Entrepreneurial Spirit
Entrepreneurial spirit — meaning the desire to grow and build something in the workplace — is more than an attitude. It’s an all-over mindset, a process of thinking that doesn’t come naturally to everyone, although it can be learned. The entrepreneurial spirit is driven by a passion to lead, the feeling of empowerment, the motivation to make changes and take risks and good critical thinking skills that drive innovation and engagement.
This entrepreneurial mindset is infectious in workplaces where employees feel empowered to make choices and are dedicated to the company’s success. Whether you’re considering an entrepreneurial business launch, evaluating your team or looking to make changes in a larger workplace, here are eight key components of the entrepreneurial spirit that you should embody to drive your company to success.
Having an entrepreneurial spirit at work is critical. People with this personality line up their work with their passion. They have consistent drive and motivation to push forward. They are invested in the work and the company on both professional and personal levels.
Entrepreneurs naturally take charge in situations without having to think about it; they have that instinct that lets them stand up and put themselves in that role. They’re comfortable being at the front of a team and are able to suggest direction and provide guidance.
These leaders are always thinking of ways that things could improve and be better. They’ve likely put a lot of thought into ways they would change a business or workplace. The phrase we’ve always done it that way is an enemy to the entrepreneurial spirit.
Entrepreneurial spirits are not afraid to take risks. Part of starting a business is taking a chance on yourself and your ideas. With entrepreneurs, the risks are carefully calculated, but there’s an underlying understanding that not everything will be a success, which makes a certain level of risk absolutely acceptable.
Setbacks are part of every business’s life. Those with entrepreneurial spirit acknowledge when risks don’t pan out and are able to quickly bounce back with counter ideas. The flexibility and agility required to accept a roadblock and move on are at the heart of the entrepreneurial spirit.
The entrepreneurial spirit is all about feeling empowered to make decisions about the business. It combines having the confidence in your own decision-making process, leadership abilities, and the understanding and acceptance of risks. This applies to all employees in a small startup; everyone should feel like they can make decisions at their level.
Entrepreneurs take action. They understand that even the best idea isn’t worth anything until it’s put into place and made real. When it’s time to make a choice, they’ll do so decisively and move forward to execute their plan when it’s time.
Entrepreneurial spirits see problems to solve and think, I want to take that down. They’re optimistically motivated by challenges and roadblocks, immediately engaging to critically analyze and attack the challenges in their path. They enjoy the process of deconstructing problems.
To promote the entrepreneurial spirit in your workplace, it’s important to first start by building a level of trust that lets employees know it’s okay to try new approaches. Show this in action as well of words: discuss taking risks, lead critical analysis on the status quo and acknowledge how failures can become learning opportunities. Management and leadership have to embody the entrepreneurial drive — and walk the walk — in order to lead by example. Use these eight components to look for employees who embody this drive and confidence, and encourage your team to pick up these ideals and use them in their daily work.