You have decided to open a cupcake bakery and move your home-based business into a storefront. Recently, you met with SBA National, a non-profit, that focuses on helping entrepreneurs start their business with funding and guidance. The non-profit also hosts a business pitch competition to anyone who is a client. One of the requirements of the SBA business pitch competition is that each participant must create a memo about how an entrepreneurial mindset can be used to start a business.
- Describe what aspects of the entrepreneurial mindset can be used in a business.
- Outline how you would use those aspects in your business.
- Provide your recommendation from your research on how the entrepreneurial mindset can be beneficial to your business.
- Provide attribution for credible sources.
Not sure on the relevance, but here is the assignment I just did before this one if you need it to reference to.
As an entrepreneur, all these aspects are relevant and important as I operate my cupcake bakery business. My firm self-efficacy beliefs will enable me to navigate my business environment, which sometimes can be challenging, and push me towards achieving my goals. The internal locus of control will help me not to depend on luck or fate but take control of the various situations that I will face during the business operation activities. A growth mindset will enable me to ensure the business realizes growth and expansion and becomes the best among other competitors offering similar or almost similar products. Intrinsic motivation will enable me not to be motivated by external factors or events that are never sustainable. The high level of resilience will enable me and my business to thrive and remain positive even in challenging or adverse circumstances.