Entrepreneurs think, behave and act differently, and though some myths and stereotypes may exist regarding this extravagant class of professionals, understanding and embracing the entrepreneurial "culture" is not as disorienting as one could think. As a matter of fact, an increasing number of larger and established organizations use the successful recipes of modern entrepreneurship for their activities. Throughout this section, we will tackle some of the core elements that make the Entrepreneurial Mindset.

 

First, the rationale for starting a business should be thought through. It is only by knowing why they want to start a company that entrepreneurs are able to display better preparation before the journey, and stronger commitment until they reach their goal of a profitable business.

 

Here are a set of “why start my own company” any tentative entrepreneur should take into account:

 

• Personal rationale:

  • More control of one's personal destiny

  • Make a difference (product, clients, employees, world)

  • More challenging

  • Better work/life balance (better and worst)

 

• Professional rationale:

  • More control (career, life, destiny, type of work, who they work with, less politics/bureaucracy)

  • Income

  • Equity/wealth building

 

• Geographical rationale:

  • Opportunity to live where wanted

 

However, thinking through those rationales should not incentivize anyone to make an abrupt transition from a corporate position to becoming an entrepreneur. As a matter of fact, most entrepreneurs start their own business on the side and manage corporate and entrepreneurial jobs at the same time. It is only when reaching a certain level of revenues or enough insights and planning for their new venture that entrepreneurs usually make the transition from corporate to being a full-time entrepreneur.