The Power of an Entrepreneurial Mindset in the Face of Change By Simone Lee

A person’s view on who they are, the world around them has a significant impact on their capacity to envision future goals for value creations. I know this firsthand, being told at the age of 15 by my grandmother, who I lived with, that I was “simple” and therefore “I should find a salon to work in as there was nothing more for me” even though I was a straight-A student at school.

Unfortunately, these words shaped how I thought about myself and my place in the world for many years until the day my entrepreneurial mindset kicked in. I have spent close to three decades working as a hairdresser full time, and this year my business is 25 years old, and I am studying to become a PhD doctor!

In today’s ever-changing world of cuttingedge technologies, economic instabilities, the potential for entrepreneurial opportunity has never been greater. Research has found that those who harness and use a robust entrepreneurial mindset, particularly young people, have the brightest future entrepreneurial potential, as they can recognise, seize, and exploit opportunities and innovate in times of crisis or when faced with setbacks (Ikonen, 2013).

Higdon (2005) details seven characteristics of entrepreneurially informed young people as:

They challenge conventional thinking They see connections where others do not They understand the value of the team They focus on the larger goal They learn from setbacks They foster and respect a sense of self They communicate effectively

What is an Entrepreneurial Mindset?

Early research exploring entrepreneurial mindsets have applied attention to why ‘some people identify opportunities and others do not, and how they can ‘leverage and combine existing and new resources in an innovative way given the dynamic and complex environments.’ (Nauman).

Daspit et al., argues an entrepreneurial mindset is:

A cognitive perspective that enables an individual to create value by recognizing and acting on opportunities, making decisions with limited information, and remaining adaptable and resilient in conditions that are often uncertain and complex.

How do cultivate an Entrepreneurial Mindset?

1. Reflect. Think about your beliefs, what you need, want, or desire and try to find ways to connect with what is most important to you.

From this starting point, authentic, clear pathways or directions can be formed which enable you to better relate to business clients and staff. 2. Adapt. Swap attitudes or thought patterns that do not align with your needs, desires or goals and replace them with beliefs systems that do. 3. Regulate. Take time out. Constantly evaluate how you feel about what you’re doing and why you’re doing it. 4. Connect. Immerse yourself with likeminded people or achieve things that you aspire to achieve and who believe in you.

Let go of negative people who drain your confidence and move your mindset forward.

To convince myself that I could reach the highest academic level and achieve a position to become a student of the Doctor of Business Leadership and management I told myself I was one of the most innovative smartest people in the world each day during the process. I had “tickets on myself”. Which I felt was a far better train of thought than thinking I didn’t graduate high school, I have not completed a bachelor with an honour’s degree, or … what would I know I’m, “just a hairdresser”.

I have used an Entrepreneurial mindset from the time I understood what it was to: • create, • innovate, • market my brands, and Free myself from financial difficulties, such as my first salon burning out in a fire that was not appropriately insured, leaving me in a mountain of debt, the Global Financial Crisis, rent a chair, and of course, right now, the COVID-19 pandemic, which has left us all in an uncertain business world, where planning for tomorrow is a challenge heightening the need for us all to seize today! Most importantly, the best use of an entrepreneurial mindset has been to satisfy my curiosity, a trait I have found common to most hair artists. I highly recommend all hairdressers to investigate the power of entrepreneurial thinking, to positively propel your world in 2022 and beyond.

References: Daspit, J. J., Fox, C. J., & Findley, S. K. (2021).

Entrepreneurial mindset: An integrated definition, a review of current insights, and directions for future research. Journal of Small Business Management. https://doi.org/10.1080/00472778.2021.1907583 Higdon, L. I., Jr. (2005). Liberal education and the entrepreneurial mindset A twenty-first-century approach. Liberal Education, 91(1),34. Ikonen, H., M. (2013). Precarious work, entrepreneurial mindset, and sense of place: female strategies in insecure labour markets. Global

Discourse, 33 (4), 467-481. https:// doi.org/10. 1080/23269995.2013.864085 Naumann, C. (2017). Entrepreneurial mindset: A synthetic literature review. Entrepreneurial Business and Economics Review, 5(3), 149-172. https://doi. org/10.15678/eber.2017.050308