KUALA LUMPUR, Sept 15 — Starting and running a new business isn’t for everyone but regardless of one’s career, there’s something to be said for the “entrepreneurial spirit”.
A little entrepreneurial zeal can give you a distinct advantage in your professional life, whether or not you think you’d ever strike out on our own.
We talk much about entrepreneurship; we encourage entrepreneurship but do we focus enough on entrepreneurial spirit? Anybody can be an entrepreneur but those with entrepreneurial spirit stand out from the crowd.
There’s even a saying nowadays “Don’t hire entrepreneurs; hire entrepreneurial spirit".
So what is entrepreneurial spirit? In short, entrepreneurial spirit is a mindset.
It's an attitude and approach to thinking that actively seeks out change, rather than waiting to adapt to change. It's a mindset that embraces critical questioning, innovation, service and continuous improvement.
To have an entrepreneurial spirit, one needs to be on the constant lookout for opportunities and when you find opportunities, you do everything in your power to make sure the right steps are applied to achieve the desired goal.
When you are working for someone else and you do this, your boss will one day hand over the responsibility to you and bingo, you have been promoted and on your way to greater things.
There are many characteristics that define entrepreneurial spirit. Let’s identify some of these:
Desire to create meaning
Spirited entrepreneurs start enterprises because they want to make meaning. They have an inherent desire to change the world and to make the world a better place. Steve Jobs was a master of this. Making money was secondary to him. His wanting to bring meaning to people’s lives was often described in his own words -- “I want to create products that change the world."
Deep commitment
Commitment is the founding drive of the entrepreneur spirit. It is the tap root for entrepreneurs that is linked to their deep desire to live a life of significance. It is this commitment that sees them continue despite disappointments and setbacks, when others declare it is too hard or impossible.
Sense of destiny
The entrepreneurial spirit is interlocked with a sense of destiny. They are driven to take control of their future, to craft their destiny and if needs be, to make sacrifices in the short term for a greater long-term gain.
It is not their businesses that make entrepreneurs champions, they become champions because they chose the champion’s way of life from an early age and so their character developed until it eventually becomes self-evident.
Risk savvy
Spirited entrepreneurs have high tolerance for risk. But it doesn't mean they jump blindly into action, instead it is the opposite. Those with the entrepreneurial spirit makes calculated moves while understanding that there are never any guarantees of success.
It is also the ability to work autonomously and be decisive. The playbook isn't always clear, so it's ideal to be able to stay agile and adapt in a high degree of ambiguity.
Spirited entrepreneurs are also fearful of a so called "risk-free" life that may end in the anguished regret of what might have been, of what could have been, of what should have been, of what if.
To the untrained eyes, spirited entrepreneurs often take risks, but actually, they are simply taking the next challenge after carefully evaluating the risk and deciding to do it based on their ability to accommodate and to manage.
Passion
Zest or passion is in the life-blood of the entrepreneur. Spirited entrepreneurs have incredible enthusiasm, and the success of any entrepreneur lies in this energy.
The entrepreneur’s passion comes from their belief that they can create and control their future and not simply live a life at the mercy of either fate or providence.
A spirited entrepreneur will do whatever needs to be done for the good of the business. As a result, spirited entrepreneurs — often to the dismay of their loved ones — are workaholics. It may be a cliché, but when you love what you are doing and are in alignment with your purpose, it rarely feels like work.
Effectual thinking
Despite the teaching that entrepreneurial thinking should start with a clearly defined goal which is then translated into specifically defined objectives that inform the strategies and then determine the tactics, research conducted at the University of Virginia indicates that spirited entrepreneurs rather take stock of the strategic resources, capabilities and unfair advantage within their control and then selects emerging opportunities that these capabilities make them uniquely placed to exploit. That is, they use "effectual" entrepreneurial thinking rather than "causal" thinking.
Questioning
Mark Twain said, “Whenever you find yourself on the side of the majority, it is time to pause and reflect." The average person rarely considers how ordinary things can be made better or improved. However, those with the entrepreneurial spirit can't help themselves.
They are continually questioning why things are being done the way they are and aren't afraid to go against the majority to make changes. It is impressive to observe in an interview when a candidate has real questions for the business and give out suggestions and ideas on how existing product could be improved. This is the quality of spirited entrepreneur in the making.
Many people have management skills and can operate a business, but the criteria above are not learned skills. Most of them come naturally to spirited entrepreneurs. They are literally the DNA of spirited entrepreneurs.
When you understand what you are made of, you have the clarity and focus it takes to bring your vision to life.
