Ted Talk Summary Paper- The Power of an Entrepreneurial Mindset

Write a overview reflection on the Ted Talk from the link below on Entrepreneurship in a one to two page paper. It can be double spaced and format of your choice. I am looking to know that you viewed the talk and understand the message of the presenter.

https://www.ted.com/talks/bill_roche_the_power_of_an_entrepreneurial_mindset

ANSWER

The Power of an Entrepreneurial Mindset

In the Ted Talk, Bill Roche has talked about how a person can create a powerful entrepreneurial mindset to have a better reality of themselves. The video offers essential information about being an entrepreneur and the best leader that one can be. Entrepreneurial skills are a set of skills that great entrepreneurs apply in their daily operations. These include leadership skills, technical skills, problem-solving, creative thinking, and business management skills. In the current world, people need a set of entrepreneurial skills to build an entrepreneurial mindset which will enable them to make decisions, solve problems and be responsible for the outcomes, identify opportunities and have the confidence to work towards the opportunities for better outcomes. The entrepreneurial mindset is all about being constantly focused on growing, improving, and developing.

An entrepreneurial mindset can be nurtured to transform an individual from a promising to a successful entrepreneur. Therefore, to have an entrepreneurial mindset does not mean that one has to be born with the skills but can be experienced and learned to develop the mindset. For instance, in the case of youths, it is important for them to gain entrepreneurial skills that enable them to see change before it happens. Bill Roche believes that one can help the youths nurture an entrepreneurial attitude by empowering them to be effective in the fast changing world.

Considerably, whether the youths own their companies or are working for employers, they need to gain the skills that will create confidence in what they are doing to help them solve problems, identify opportunities and sell their ideas. Bill Roche gives stories of students that have been able to create their own real business through a program that he developed for kids to nurture their entrepreneurial skills. Students have been able to build their own businesses in the Power Play Young Entrepreneurs.

The program has shown the influence of assisting students to be responsible of their learning with the freedom to do wrong and challenge their activity has enabled them to develop their entrepreneurial skills. For instance, when students are allowed to make their own decisions and rely on their creative and critical thinking skills, they are able to improve on the development and maintenance of their business projects which improves the growth of their brands and business. According to Bill Roche, entrepreneurial skills enable one to solve problems and get solutions on the way as they interact with customers and other stakeholders through communication skills to talk and engage with them.

There are two key features that have been highlighted by Bill Roche that allow the development of an entrepreneurial mindset. These include; freedom to make mistakes and reflect on challenges and experiences which enable them to actively develop competence skills and build their success. Ideally, entrepreneurship is challenging which means that an entrepreneur needs the freedom to experiment and explore and treat mistakes as a learning process. Reflecting on experiences enables one to understand what they are learning and change their perception. Bill Roche has illustrated some of the achievements of students as well as their transformative experience through the development of an entrepreneurial mindset.

Bill Roche also discussed the benefits of an entrepreneurial mindset. Building an entrepreneurial mindset for young people enable them to discover their potential. Other major benefits of the entrepreneurial mindset include unleashing potential and sparking leadership. In the current world, there is a need to have a strong set of entrepreneurial skills and an entrepreneurial mindset to succeed. This is because an entrepreneurial mindset is critical to success in a rapidly changing world.