Page 4 - 3.1

JIMINY SELF-HELP HANDBOOK 4

2. THEORETICAL BACKGROUND

2.1. Overview of an Entrepreneurial Lifestyle and Mindset
Who is an “entrepreneur” and what does it really mean to have an “entrepreneurial” lifestyle and
mindset? Literally, the word loan for the term “entrepreneur” goes back to the old French war
th
vocabulary of the 18 century where “entreprende” means “to undertake” – an act that combines
strategy, organization and risk. The term was then used to describe a "manager or promoter of a
theatrical production" – another risky act that also demands collaboration and creativity. Nowadays,
looking up the word in a dictionary, we can see that it refers mainly to “a person who organizes and
manages any enterprise, especially a business, usually with considerable initiative and risk”. In
addition, entrepreneurs can sell anything: from products to services and from information to attention.

But is this definition enough? In fact, as we are about to discuss, having an entrepreneurial mindset is
not just about starting companies, but it is a way of meeting life’s risks and challenges. Therefore, in
this subsection we will focus on the definition and the importance of the entrepreneurial mentality
and we will sum up the most essential characteristics of a successful entrepreneur’s way of thinking as
a basis to identify effective ways to upgrade one’s mindset and improve his/her entrepreneurial
attitude and approach towards everyday life.

What is Entrepreneurial Thinking and Why It Is Important

Although the “technical business side” is only one of many (and usually over-emphasized) aspects of
being an entrepreneur, we will begin by this side because “the era of entrepreneurship” is already here
and will evolve even more dynamically while, especially for the younger people, there are no more
guarantees for a long career under one employer or even in one industry or sector.

First of all, we should realize that anyone can be an entrepreneur, but not everybody is going to have
the same level of success. And the paradox is that entrepreneurs don’t necessarily make good business
1
owners and managers . There are no prerequisites neither a “best way” to become an entrepreneur.
Entrepreneurship takes a lot of experience, determination, planning and sometimes education, while
each entrepreneur has a different background and a unique set of motivations, assets and flaws. It is
also crucial to understand that even the best business ideas might fail under different circumstances.
However, entrepreneurial thinking can lessen the chances of failure and give a business a better chance
of succeeding.

Even though anyone can be an entrepreneur, obviously not everyone is fond of entrepreneurship. In
addition, a job is work we do mainly to earn money, while a career is a commitment to work in a field
or industry. However, even those who fear risks, career and entrepreneurship and prefer working as
employees, have a lot to gain by developing an entrepreneurial lifestyle and learn to think like
entrepreneurs. An employee with an entrepreneurial mindset is also known as “internal entrepreneur”
or “intrapreneur” and as it is said these people are among the most valued and desired kinds of
2
employees . In more detail, an intrapreneur is an employee who innovates and thinks
entrepreneurially within an existing organization or corporation, developing new lines of business,
programs or products. Intrapreneurship is a safe or at least a safer way to practice entrepreneurship,

1 Green, Mike (2017), “Developing the entrepreneurial mindset”, in Michelle Ferrier & Elizabeth Mays (eds)
Media Innovation and Entrepreneurship, available online https://press.rebus.community/media-innovation-and-
entrepreneurship/chapter/developing-entrepreneurial-mindset
22 Green, Mike (2017), Ibid.