Entrepreneurial Mind-

set: How to Think Like

an Entrepreneur

EDS 411

DR. SALAU O.P

17th October 2022
Quotes
 Poverty rate, 2020

Budget for 2022 = #17 Tri

Borrowed till 2022 = 39.12 Tri
Who are you?
COVENANT UNIVERSITY’S GRADUATES THAT ARE CEOs
Defining Entrepreneurial Mind-set
An entrepreneurial mind-set is
a specific set of beliefs, knowledge, and
thought processes that drives
entrepreneurial behaviour.

Anyone willing to do the work can

develop an entrepreneurial mind-set.
What makes an entrepreneur is not what
he/she does but how he/she thinks
 Clarity of Purpose
Successful entrepreneurs are totally
clear on why they are here and their big
picture reason for existing.

There is no judgment on the actual

business, but the importance of
knowing their purpose cannot be
understated.
Dangote Group continues to grow its vision of becoming the leading
provider of essential needs in Food and Shelter in Sub-Saharan Africa.
DM Consulting to assist and guide start-up entrepreneurs by helping
them clarify the vision of their business and how it fits in with their
personal goals
Self Belief
Every successful entrepreneur must
possess an incredible sense of self-
belief.
They back themselves completely,
even if no one else will.

It means overcoming doubt, fear, self

worth and self esteem issues and
going against the family sometimes,
something that is very hard for most
of us to do.
 Identifying Needs and Opportunities

Successful entrepreneurs are able to identify

opportunity in just about every situation.

Focus on the opportunities and not the

ventures.

Identify, evaluate and select a business

opportunity
 Focus and Concentration
Successful entrepreneurs have the ability
to control their thoughts and actions.

There is a need to be totally present and

focused with whatever is in front of them
(and important) at the time.
Building Successful Networks
Successful entrepreneurs have
incredible networks.

They spend time and energy

investing in their networks, they
give more than they take, and
they act without expectation of
reciprocation.
 Challenging Oneself
Successful entrepreneurs are big
learners, they push themselves
physically, they work hard, and
they play hard.

It keeps their minds active, their

bodies fit and their attitudes
positive.
Believe in Innovation & Technology

Successful entrepreneurs invest vast

sums of money into technology to
do what they do better.

As new technology become

available they will try it, invest in it
and see how it can make their
business and their life more on par
with what they want to achieve.
 Build Resilience

All high achieving entrepreneurs have

had incredible challenges in their lives.

They could easily have hidden behind

these challenges and played the victim
but they don’t.

They have become resilient over time

and they get more resilient every day.

…… is the capacity to recover quickly from difficulties or tough times [Don’t give up]
A millionaire mindset
Having the right mindset, one that
embraces abundance and
opportunity is often the difference
between a rich entrepreneur and
poor entrepreneur.

If you are sick of being broke,

develop your own millionaire mind.

Read books written by: John Williams; Harv Eker; Thomas Stanley
Taking Action
The age of digital technology has
pluralized knowledge.

However, what makes an

entrepreneur successful is not how
much he/she knows its how much
action has been taken with the
available knowledge.
 Self Investment and all round Health
Successful entrepreneurs understand
that they need to take care of
themselves physically and mentally on
a regular basis.

This is not an optional activity, this is

an essential activity.
 Assignment
1. Compare the Unemployment rate in Nigeria (i.e. 2000-
2022) with 10 different countries in the World.
2. Compare the Under-employment rate in Nigeria (i.e.
2000-2022) with 10 different countries in the World.
3. Compare the Poverty rate in Nigeria (i.e. 2000-2022) with
10 different countries in the World.
4. Give your personal reflection and way forward?