The mindset of entrepreneurship has been massively over looked in recent years. Why? Its because its too “touchy feely” and not easily understood, taught or coached. The need to support and nurture ambition to create more scale ups has been a missing part of the business advice landscape in recent years. Fire in the belly, personal drive, unstoppable work ethic, a need to prove to the world are common descriptors of the mindset of successful scale up entrepreneurs. At the most fundamental level and without this prevailing mindset the UK will continue to be a nation of shopkeepers. Whilst sole traders provide a valuable contribution to the economy, it’s scale ups that drive innovation, productivity, exports and added value jobs.
A study in 2015 by the Government’s Business Department looked at the Sociology of Enterprise. It provided excellent insight into how to segment the mindset and behaviours of entrepreneurs in relation to their growth orientation. They describe three types:
- Growth resistant – no chance
- Growth ambivalent – opportunistic
- Growth inclined – strong vision for growth
Winning pitch have added another category – Super Charged – those individuals who have an insatiable appetite to achieve, they never stop, they absorb learning, take on and pay for quality advice, manage risk and constantly move their business forward. They are genuine in their intentions and ambition – the economy needs more of these types. Unfortunately, these people are few and far between and many with the potential just never fulfil it. We need to take a long hard look at how we spark those who can !