Venture Forward with an Entrepreneurial Mindset
VentureLab |
July 19, 2022
Entrepreneurship is more than starting a business, it’s a way of thinking and acting. It’s about identifying opportunities, finding ways to solve problems, and taking calculated risks. It is the process of creating solutions, ideation, design, and iteration. It’s about creating, delivering, and capturing value.
Entrepreneurship is also a very personal journey of self-exploration and growth.
Each journey is unique but one of the things that all entrepreneurs have in common…is that they are always in motion.
Entrepreneurs who have an idea, Think Forward.
Entrepreneurs that experience failure, Fail Forward.
Entrepreneurs unsure of what the future holds, Move Forward.
During their adventure in the entrepreneurial process they ThinkForward, FailForward, and MoveForward.
Think Forward: Look to the future
Entrepreneurs are opportunity seekers. They are constantly noticing and wondering to find the potential in any situation. They look for problems to solve, needs to fill, or challenges to overcome. Once they have these opportunities in their sights, they Think Forward and ask, “How might we accomplish this? How might we make this happen?”
Entrepreneurs are able to open the doors that are closed to most and look into the future. The key that opens this door? Curiosity. With the single word, WHY, they question norms and seek underlying causes for problems they observe.
Once the door is unlocked, they Venture Forward into the future by asking, What if… What if someone landed on the moon? What if we lived in a just and equitable world? And just like that, entrepreneurs have time traveled to the future where their ideas are no longer imaginary but working solutions that create value for others.
Entrepreneurs constantly Think Forward by seeing the potential for future opportunities and asking questions that lead to innovations.
Try this fun activity to grow your mindset and ThinkForward: Reverse Brainstorming
Fail Forward: F.A.I.L. and N.A.I.L.
Entrepreneurs don’t stop with just looking to the future, they take action. They are constantly moving forward and seeking ways to make their ideas a reality.
Every adVENTURE begins with a single step and this first step is what Dr. A.P.J. Abdul Kalam referred to as a F.A.I.L., which stands for First Attempt In Learning. It captures the idea that failure, or any outcome that doesn’t meet your expectations, is a valuable part of the learning and design process. You take that moment, embrace it, Fail Forward, and try again.
Every time you try again, you’re attempting to N.A.I.L. it (which stands for Next Attempt In Learning). Each step after a setback, failure, or unexpected outcome is a Next Attempt In Learning. To Fail Forward, requires entrepreneurs to be persistent in the pursuit of their ideas and apply grit during the most difficult moments.
Try this activity to FailForward: Marshmallow Tower Challenge
Move Forward: You Got This!
Entrepreneurs are optimists. They believe in themselves and their ideas. They Move Forward with confidence knowing they will eventually achieve their goals through hard work and perseverance. This isn’t blind optimism. It’s the power of positive thinking which has been scientifically proven to not only have positive effects on your health but also influence those around you.
As entrepreneurs Move Forward they have to adapt to find ways to make their ideas work when plans change. They have what psychologist Julian Rotter termed an internal locus of control. This means that as unexpected things arise, one has a strong belief in their ability to control the outcome of a situation.
Summing it up…
Starting a business (and being an educator) requires more than skills and material resources, it’s a process that requires thinking and acting to solve unexpected problems and change as needed. Successful entrepreneurs and educators Think Forward, Fail Forward, and Move Forward.
