1. Youth Entrepreneurship: The Mindset

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Youth Entrepreneurship

Components of Course Series This series of courses is divided into 3 parts with different lessons in each, and associated assignments.

This course includes the behavioural and psychological aspects associated with developing an entrepreneurial spirit. a) Identity and Emotional Intelligence b) Motivation c) Creativity d) Resilience The Mindset

This course will delve into the components of the Business Model and how to build it, and includes relevant assignments. a) The Idea b) The Business Model: Value Proposition, Value Chain Structure, Profitability Model c) The Sustainable Business Model: Social and Ecological Sensitivity The Business Model

This course contains lessons on skills relevant to the entrepreneurial spirit, and includes some assignments. a) Communication b) Leadership c) Efficiency Leadership Skills

The Mindset

Why ask "Who Am I"? The intent of "who am I?" is to introduce oneself to one's identity. It is this identity- the 'who'- which forms the basis of 'what' we do, as an indidivual as well as an entrepreneur. This allows a form of recognition and a basis of relating to oneself and different groups.

Identity and Entrepreneurship For entreprenuership, a clear idea of "Who Am I" is very important. One's dentity anchors the person and connects the qualities of leadership to one's own values and traditions. Thus, for any entrepreneur, a strong idea of the self is very important.

Now, let's learn more about Emotional Intelligence (EI)- an important characteristic for any entrepreneur, and for any individual.

EI is very important because it conditions our ability to manage our energy and motivation.

Emotion is very much linked to our creativity and allows us to better manage our relationships with others and with ourselves.

Mastering and expressing emotions is what characterizes a leader.

Emotion has important consequences on our digestive system, on the state of health and well-being of the individual.

More often than not, successful people have a high level of emotional intelligence.

An emotional process, with a beginning and an end, is comparable to our digestive system; each part is indispensable, the first is the expression of emotion and the last is the transformation of needs into a creative goal.

Role of Emotions Indicator of the quality of a relationship or event Help us to choose objectives and to make decisions Influence the energy in the human body They are a tool of transformation (emotional creative process) Important in the process of evolution

What role do emotions play in our lives? Select as many as you think are right...

The Mindset

Types of Motivation Motivation can be of two main types: extrinsic or intrinsic. Extrinsic (or external) motivation is built on and arises from external factors (those which are outside the individual) like medals, accolades etc. Intrinsic (or internal) motivation is built on internal factors which lie within the individual and is anchored on personal gratification like enjoyment of a challenge. Intrinsic motivation is more stable and sustainable than extrinsic motivation as it engages you rather than anchoring you to an external outcome. Although different, both play an important role in varying situations.

Some Behaviours Associated with Motivation I know how to identify the characteristics of my personal motivation to take action I know how to balance the two types of personal motivation: intrinsic and extrinsic I know how to evaluate opportunities and obstacles I am ready to take action I am capable of personal commitment to the achievement and success of a project

Improving Motivation (Based on Psychological Models) Consciousness Raising Dramatic Relief Self-Reevaluation Environmental Reevaluation Social Liberation Self-Liberation Helping Relationships Counter-Conditioning Reinforcement Management Stimulus Control

The Mindset

More about Creativity The cerebral connections in the left hemisphere of the brain are linear, logical and sequential. It is the right hemisphere which is more closely related to creativity. The connections of the right hemisphere of the brain follow a network model and stimulate alternative pathways and emotions. This encourages generation of new solutions to complex challenges. Remember! Creativity can take any way, shape, or form!

Some behaviours associated with Creativity I use logic to apply the tools that support the creative process I demonstrate a proactive attitude and I am ready to seize opportunities I possess an ability to take initiative I demonstrate a positive attitude when facing the uncertainties of the creative process I adopt a participatory approach to researching ideas I demonstrate an innovative attitude to solving problems I seize new opportunities for launching a new business

What are some behaviours associated with Creativity? Select all that apply

Improving Creativity Allow periods of free thinking Re-visit and Re-conceptualize the problem Stimulate yourself Mindfulness and meditation Do not fear failure or being 'wrong'

The Mindset

Resilience includes...

Some Behaviours Associated with Resilience I react quickly when faced with significant obstacles and set-backs I identify and apply alternative strategies to respond to challenges I take responsibility for the level of performance needed to achieve the objectives I adopt a positive attitude in the face of adversity I analyse my mistakes I develop my capacity for taking risks

Improving Resilience Based on psychological research Self-awareness Persistence Emotional control Openness to change and alternative thinking Working on personal growth (through skill development etc.) Focus on the process of learning rather than the outcome