Find out how you could unleash your inner business boss
Whether it's old fashion graft or a flair for the creative, take our quiz and discover what kind of entrepreneur you'd be.
How you can nurture your inner entrepreneur
First, don’t forget to feed them. Espresso and tension will only get you so far. Then explore these tips
Know where you’re going
As you'll have seen from the quiz, successful entrepreneurs share a few key attributes - even the ones on our extremely scientific survey above - so ponder them and set out to cultivate them. They include showing initiative, being a self-starter (i.e. getting things going without waiting for someone else), looking constantly to the future and developing persistence.
Remember that you can learn
Not there yet? Don’t worry about it. Research has shown that entrepreneurial thinking can actually be developed - your brain can learn to adopt the right mindset.
For example, business schools can help you in a couple of important ways, according to Mona Mensmann, associate professor.
“They can provide students with the basic tools needed to acquire entrepreneurial skills. If they allow students to take entrepreneurial action, they can prepare them for recognising and seizing entrepreneurial opportunities.”
They’ll also give you a safe space to try and - as importantly - fail at entrepreneuring (actually, that might not be a word).
“Entrepreneurship cannot be learned by simply studying books, so first of all come up with business ideas and test them on a small scale. Embrace any errors that you may make in the process and learn from them,” Mona adds.
Learn from the folks who went before
Contrary to what you might think, entrepreneurs are usually happy to help people just starting out. They’ve been there, they know what it’s like, and they can enlighten you.
Mona’s tips include learning from feedback, starting small, and focusing on what customers need, not what you want to do. And remember who the boss is. “Keep in mind that it’s you who’s in charge of your entrepreneurial success.”
Don’t feel you have to do it all alone, though. “Create a support network and remember to ask for help when you are unsure of something,” says Alex Balderstone, co-founder of startup scouting business Kaiku.
Alexis D’armau de Bernede, founder of art advisory firm Gismondi & Darmo agrees. “Don’t be afraid to collaborate with someone, don’t be afraid to undertake ventures you believe in, and do what you love.”
Finally, look after your business’ most essential asset: you. “Keep trying, and take care of yourself,” says Aardra Chandra Mouli, founder of biotech firm Aeka Biochemicals. “You’re the fuel that burns to power your enterprise.”
Our partnership with Lancaster University Management School
Lancaster University Management School (LUMS) is one of the longest-established business schools in the UK and home to a thriving and truly international community.
We are a triple-accredited research-intensive business school that combines world-class research with excellent teaching and high levels of student satisfaction. We welcome students and staff from more than 180 countries and have a presence in 24 countries, including campuses in China, Germany, Ghana and Malaysia.
We challenge and support our creative staff, students and partners to realise their ambitions as they experience a transformational journey that leads to real impact on whole industries, societies and economies.
Lancaster University is among the best in the UK, and has been the top university in the northwest of England for more than a decade.
To find out more, visit the Lancaster University Management School website.
