THE ENTREPRENEURIAL INSTINCT : How Everyone Has The Innate Ability To Start A Successful Small BusinessMonica Mehta
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How To Unlock And Unleash Your Innate Entrepreneurial Talent
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★★ Winner of a 2013 Small Business Book Award – Startup Category ★★
★★ The Wall Street Journal Bestseller ★★
Unlock your innate entrepreneurial talents, take rewarding risks, and launch and run a successful business
☞ Many successful entrepreneurs were college dropouts: Tom Monaghan (Domino’s Pizza), Richard Branson (Virgin group).
☞ Several other successful entrepreneurs did not do core market research: Howard Schulz (Starbucks). Many successful entrepreneurs did not have any training or experience in their lines of business: Anita Roddick (Body Shop).
☞ Several entrepreneurial and creative people went through a string of failures and rejections before succeeding: Henry Ford, Walt Disney, Charles Schultz, Dr Seuss, and even Vincent van Gogh.
Hence, the dropout that makes billions seems to have caught lightning in a bottle– a triumph relying more on luck than skill and never to be repeated. In real life, successful entrepreneurs take classes, write business plans, and map out responses to every contingency. But if the story is such a fluke, why do we keep hearing ones like it over and over again?
The Entrepreneurial Instinct explains that entrepreneurial success is not the result of education, IQ, access to capital, or even an earth-shattering business plan. Instead, it comes from the instincts that enable entrepreneurs to take risks for gain and utilize adaptable action-oriented business planning.
The Entrepreneurial Instinct shows you how to tap into your innate abilities to become a financially successful entrepreneur.
The Entrepreneurial Instinct explains that entrepreneurial success is not the result of education, IQ, access to capital, or even an earth-shattering business plan. Instead, it comes from the instincts that enable entrepreneurs to take risks for gain and utilize adaptable action-oriented business planning. The Entrepreneurial Instinct shows you how to tap into your innate abilities to become a financially successful entrepreneur.
The Entrepreneurial Instinct looks past the rags to riches stories of self-made entrepreneurs to explore how our mind, behavior, and brain chemistry impact our ability to be enterprising in the absence of formal training.
Groundbreaking insight from neuroscience and psychology experts uncovers the scientific explanations behind self-made mavericks’ seemingly innate knack. More important, Mehta explains how you can use these discoveries to replicate their success by:
✔ Taking rewarding risks
✔ Overcoming fears and failure
✔ Thriving in the face of ambiguity
✔ Using your innate talents to find financial independence and make millions
Interviews with dozens of entrepreneurs reveal the traits and habits that allow them to take rewarding risks, overcome fear and failure, and thrive in the face of ambiguity. Conversations with experts in the fields of neuroscience and behavioral psychology expose the scientific explanation behind their seemingly innate knack and shed light on how the rest of us who may not be naturally gifted entrepreneurs can use brain chemistry to find success.
The book weaves together stories from entrepreneurs, pop culture figures and thought leaders (including the founders of CLIF Bar, Carol’s Daughter, Marquis Jet, Skip Hop, Dogfish Head Beer, KIPP Charter School, J Brand Jeans, writers of Grey’s Anatomy, rock journalist Neil Strauss, Phoenix Suns forward Grant Hill) to reveal cutting edge insight on using brain chemistry to work in ways to create a cycle of productivity, take risks that pay and tap into our creative mind to realize professional success.
In a time where millions of Americans are unemployed, underemployed or aspire for better opportunities, The Entrepreneurial Instinct offers much needed techniques for using our innate capabilities to make more with less.
In a time where millions of Americans are unemployed, underemployed or aspire for better opportunities, The Entrepreneurial Instinct offers much needed techniques for using our innate capabilities to make more with less. “To take the journey, put action over planning. To fund the journey, put planning over action” Mehta stresses over and over again. It is important for entrepreneurs to plunge in and take action in the beginning, measure the outcomes and make necessary adjustments.
Business plans are not of much use when the initial offerings and steps will be continually refined and tested. Only after some stability or patterns have emerged and if financing is needed for scale, will it be necessary to develop a detailed business plan.
Entrepreneurship is not alchemy, but at the same time is not rigidly structured. There are frameworks for assessing customer needs and aspirations, learning from marketplaces and competitors, and taking calculated risks. Entrepreneurs have tapped traits and habits that allow them to take rewarding risks, overcome fear and failure, and thrive in the face of ambiguity.
Impulsivity and adaptability are two key traits of successful entrepreneurs, according to Mehta; entrepreneurs have an itch to try something new, and have the flexibility to roll with the punches and improvise. Entrepreneurs take smart rewarding risks, and overcome their fears and inhibitions. They know there is a time for planning and a time for action.
Medical tests have shown that entrepreneurs score higher ratings on questions that tested impulsiveness and measured cognitive flexibility (the ability to switch a behavioural response depending on a situation’s context).
Risk-taking and direct action releases the chemical dopamine in entrepreneurs, and they feel more rewarded by it. But for most people, the pre-frontal cortex dominates, it is responsible for rational decision making rather than emotional action. “Dopamine provides pleasure, focus and motivation that drive us to do many of the activities necessary for our survival,” explains Mehta.
Entrepreneurs, astronauts, star athletes and commandos fall in one category of professions that call for impulsivity; those in more rational and structured professions include managers, professors, economists and software analysts.
Entrepreneurs have a can-do attitude, a belief that over time they will figure it all out and stop worrying. They are extraverts (optimistic, confident, reward-oriented), and open (with a high propensity for self-change and solving problems); they are flexible and not too conscientious.
Successful entrepreneurs have stamina, grit, optimism, a sense of faith, and sometimes even the power of spirituality or religiousness. Now is the time to learn what you’re made of. Now is the time to make your move. Now is the time to tap into your Entrepreneurial Instinct and create your own story of small business success.
Table of Contents :
– Chapter 1 : How Sunil and Rita Made Millions
– Chapter 2 : Decoding the Framework of the Instinct-Driven Entrepreneur
◆ Part 1 : Using Instinct to Take Rewarding Risksp
– Chapter 3 : The Entrepreneur’s Innate Risk-Taking Edge
– Chapter 4 : The Chemical that Drives Risk Taking
– Chapter 5 : The Personality Traits of the Self-Made
– Chapter 6 : The Source of Fear
– Chapter 7 : Turning Off Your Red Light
– Chapter 8 : Take Rewarding Risks
◆ Part 2 : Using Instinct to Launch a Financially Successful Business
– Chapter 9 : Launching a Business by Using Instinct
– Chapter 10 : Finding Inspiration
– Chapter 11 : Create a Cycle of Productivity
– Chapter 12 : Shoot First, Aim Later
– Chapter 13 : Don’t Spend a Dime (Until You Exhaust Your Imagination)
– Chapter 14 : Before You Quit Your Job
– Chapter 15 : How Beliefs Define Reality
About the Author :
Monica Mehta is an investor, author and sought after expert on small business and finance topics. She brings 15 years of hands-on experience as an operator of multi-million dollar consumer businesses and advisor to hundreds of entrepreneurs. She is currently a Managing Principal at Seventh Capital, a New York based investment firm. She also writes a regular small business column for Bloomberg Businessweek and appears on-air as a finance expert for Fox News, Fox Business, ABC News and MSNBC.She is a graduate of the Wharton School of the University of Pennsylvania.
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