MSL SESSION-04

MAHESH PATIDAR 2018CE10113

Critical Traits of an Entrepreneur:-Entrepreneurs are not born .They are made by their hard work and
skills.

Personality Traits:-

 Self discipline
 Discipline is a bridge between goals and accomplishments
 It is ability to make yourself to what you should Do when you should do
it Whether you feel like it or not.
 Persistence
 Persistence is a key that unlocks potential
 How to keep going when everything tells you to quit.
 Result Oreinted:
 Results Matter! They matter to your credibility.
 Flexibility
 You need not to be flexible with nyour values but need to flexible
with your mind.An open mind is a good place to start.
 Risk Taking Ability
 Sir give an example of Elon Musk that his proceeds from paypal is
$180M .and he put $100M in SPACEX and $70M in TESLA and
$10M in solar city . Even He had to borrow money for Rent. So this
is called Risk Taking Ability
 Creative and Critical Thinking
 Creative Thinking is a thinking we do when we generate Ideas
 Critical Thinking is the thinking we do when we jungle Ideas.
 Resolute motivation and passion
 Focus on your dream
 Build on success
 Stay positive
 Generate new Ideas
 Establish good habits
 Set new goals
 Create reward incentives

Skills of Enterprenuer:- Finance, Admin, Logistics, IT, Company law, Designer, Production, Sales,BD.

Learn to network, learn different languages, learn basic things like how to eat on table. learn to
understand how to make friend. Ask for help/find mentor whom you can take advice.

You have to clear about What problem are you solving? And what value are you offer.

 Capital is invested in Ideas, Peoples, Platforms process.

Determination to succeed ,Resilience ,Humbleness are some important quality you need to find out in
person while making your team.

VUCA:-

 Volatility:- It’s a lot of random situations that combine in a certain volatile form and create a
bigger than the whole situation that nobody could have predicted.
 Uncertainty:-how to reduce risk of uncertainty
 Complexity:-as a entrepreneur you need to understand complexity in real world and real time.
And how to make your thinking flexible in such complex situation
 Ambiguity:-doubts in a relationship make it slow. Business id build in trust.

Operating in environment where the norm is changing everyday

Building an organization to respond to such conditions is extremely difficult

But can be done. Starts with the Enterprenuer and processes to deal with this.

Ingredients of enterprenurship:-Team, Leadership, Processes, Flexible mindset.