It has been not a long journey with ME2062 — technology-based entrepreneurship, but it indeed has inspired me a lot about entrepreneurship and innovation. Besides all the materials, business models and strategies covered in the course content, what I appreciated more is the idea sharing from different real startup companies.
Many startup companies from different industries have shared their experience and inspiration with us during the lecture. Those startup companies were from different industries, Fashion, Music and many others were involved. Although the products and services they deliver might vary from different industries, but they shared many common values along the journey. And I would like to conclude those values as — Entrepreneurs spirits.
Here I concluded the 5 main characteristics of Entrepreneurs spirits as below:
- They are in-tune with their passion.
Passion is definitely the most important attributes for start up companies. I can see the passion behind from every startup companies shared with us. I can see that they are passionate with their ideas, with their product or services and with exactly what they are doing. Passionate people know what it is like to dive deep into a subject and completely understand it. When people are genuinely passionate about the problems that your company is trying to solve, they will be energised by any challenge that stands in their way.
- They are always questioning how it can be done better.
Mark Twain once said, “Whenever you find yourself on the side of the majority, it is time to pause and reflect.” Those with the entrepreneurial spirits always consider how ordinary things can be made better or improved. They are continually questioning why things are done the way they are and aren’t afraid to go against the majority to make changes.
- Optimistic about all possibilities
To be entrepreneurial by nature is to be optimistic. People with the entrepreneurial spirit don’t spend time thinking about what they can’t do, but instead ask themselves, “Why can’t I?” Always be optimistic and be positive to challenge oneself and to seize for all possibilities and opportunities are also key attributes for entrepreneurs to success.
- They take calculated risks
In addition to optimism, entrepreneurs are predisposed to a high tolerance for risk. But it doesn’t mean they jump blindly into action, it’s instead the opposite. Those with the entrepreneurial spirit make calculated moves while understanding that there are never any guarantees of success. It’s also the ability to work autonomously and be decisive. The playbook is not always clear, so it is ideal to be able to say agile and adapt in a high degree of ambiguity.
- Above all, they execute
Only idea is actually meaningless until they are acted on. Those with the entrepreneurial sprit realise that execution is everything when it comes down to success or failure.