HOW TO START A BUSINESS:

Developing an Entrepreneurial Mindset: First Step

Towards Success
Course Overview
This course is the first in a series on starting your own business. Though new venture
creation is the focus of the specialization, this course is important for everyone. It has
value for those whose success is defined by the performance of their own venture, and
provides value for those whose success is defined by their performance within someone
else’s venture. The course is as much, if not more on fulfilling one’s potential as it is on
starting a business.

In her classic text, Mindset: The New Psychology of Success, Stanford Professor Carol
S. Dweck presented her research showing that hard work and mindset impact success
more than natural talent1. She came to the conclusion that people have the ability to
choose which mindset that wish to operate from.

Dr. Alain Fayolle in the Financial Times defines an Entrepreneurial mindset as a

specific state of mind which orientates human conduct towards entrepreneurial activities
and outcomes. Individuals with entrepreneurial mindsets are often drawn to

1
Dweck, Carol (2007). Mindset: The New Psychology of Success, New York, New York, Ballantine Books
opportunities, innovation, and new value creation.2 In terms outlined by Dr. Dweck this
would be a specialized growth mindset as opposed to fixed mindset.

Having an entrepreneurial mindset is critical to fulfilling one’s potential, and especially

in being successful as an entrepreneur. An entrepreneurial mindset stands alone in terms
of its importance in these areas. No other attribute, personality, inherent entrepreneurial
proclivities, training, or demographic profile is common to all successful entrepreneurs
whether Warren Buffet, Steve Jobs, or the neighborhood florist or grocer.

This course provides learners with an understanding of the attributes and perspectives
of an entrepreneurial mindset, and the process to acquire one. The course introduces
concepts that enables a person to start a transformative process in the way they think
generally, and in the way they think about business specifically. This new way of
thinking has the potential to positively impact not only them, but their family and
community.

So what can a learner expect to gain from this course? At the end of this course a
learner:

1. will be able to argue effectively against all of the reasons for not starting their
business;
2. will be able to operate effectively within the new framework or model for
starting a business, thus increasing their chances for success; and
3. will be able to make the initial business startup decisions of what type of
business to start, and what type of business owner to be.

2
Fayolle, Alain, Director of the Entrepreneurship Research Centre at EM Lyon Business School, in the Financial Times
Lexicon, http://lexicon.ft.com/Term?term=entrepreneurial-mindset.
 Assignment Outline
Week One:
Module One: Lesson One: Specialization: Goals and Objectives

Module Two: Lesson One: Developing an Entrepreneurial Mindset-

Overview
View Video Lesson

Lesson Two: Developing an Entrepreneurial Mindset-What’s

Yours?
Read Articles: “Are Entrepreneurs Born or Built”
“Are Entrepreneurs Born or Made”
View Video Lesson

Complete Peer Review Assessment One

Module Three: Lesson One: Developing an Entrepreneurial Mindset-Why Not

Part 1?
Read Article: “Anyone Can Start a Business”
View Video Lesson
Complete Practice Quiz One

Lesson Two: Developing an Entrepreneurial Mindset-Why Not

Part 2?
Read Article: “Top Ten Myths of Entrepreneurship”
View Video Lesson

Complete Practice Quiz Two

Complete Peer Review Assessment Two

Week Two:
Module Four: Lesson One: Developing an Entrepreneurial Mindset-Why You
Part 1?
Read Article: “Entrepreneur versus Small Business Owner”
View Video Lesson

Complete Practice Quiz Three

 Lesson Two: Developing an Entrepreneurial Mindset-Why
You Part 2?
View Video Lesson

Complete Practice Quiz Four

Module Five: Lesson One: Developing an Entrepreneurial Mindset-Why

Now?
Read Article: “E-Myth Revisited Summary-Part One”
View Video Lesson

Complete Summative Assessment One

Module Six: Lesson One: Developing an Entrepreneurial Mindset-Self-

Assessment – Know Yourself
View Video Lesson

Lesson Two: Developing an Entrepreneurial Mindset-How to

Be Driven
View Video Lesson

Complete Practice Quiz Five

Complete Peer Review Assessment Three

Lesson Three: Developing an Entrepreneurial Mindset-Power

of Industry Knowledge
View Video Lesson
Complete Practice Quiz Six

Lesson Four: Developing an Entrepreneurial Mindset-

Calculated Risks
View Video Lesson

Complete Summative Assessment Two

Week Three:

Module Seven: Lesson One: Developing an Entrepreneurial Mindset-The

New Paradigm
 Read Article: “What is the New Paradigm of Business”
View Video Lesson

Complete Practice Quiz Seven

Lesson Two: Developing an Entrepreneurial Mindset-The Art

of the Process
View Video Link: “The Idea Myth”
View Video Lesson

Module Eight: Lesson One: Developing an Entrepreneurial Mindset-Leaving

Doors Open
View Video Link: “Where Do Good Ideas Come From”
Read Article: “Entrepreneurial Opportunity: Is It an Illusion”
View Video Lesson

Module Nine: Lesson One: Developing an Entrepreneurial Mindset-Resign to

Design
View Video Lesson
Complete Practice Quiz Eight

Lesson Two: Developing an Entrepreneurial Mindset-Lean

Changes
Everything
Read Articles: “What is a Startup? First Principles
“E-Myth Revisited Summary – Part 2
View Video Lesson

Complete Peer Review Assessment Three

Complete Summative Assessment Three