Director's Blog

March 2018 - Entrepreneurship = Mindset x Change2

Entrepreneurship is about creating value in the world.  To be entrepreneurial you need to have the right mindset and you must want to bring about really significant change. 

E=mc2 is a fundamental formula that you can apply not just to running a business but to all walks of life.  It’s relevant to you whether you are employed, self-employed or an entrepreneur.

Entrepreneurship means you can create economic, social and cultural value. You can add value and make the world a better place!

mindset is important because it enables you to look at the problems and opportunities in the world and ask yourself “what am I personally going to do?” We can all take the lead!

change needs to be more than incremental; you need to challenge the status quo and challenge yourself. You can make a real difference!

Whether you are employed in an organisation, work for yourself or you are starting a business that will create employment, it's time to change your mindset and change the world!

The video post of this blog on LinkedIn attracted 857 views and likes from people in Australia, Canada, China, Croatia, England, Finland, France, Greece, the Netherlands, Northern Ireland, Peru, Poland, Scotland, Spain, the USA and Wales.

February 2018 - work hard, work smarter

The Entrepreneurial Mindset is a way of thinking but it also means making a commitment to hard work.  What are the tools that you need to help you be more entrepreneurial in your work? Just wishing for things isn’t enough.

First, like an entrepreneur, instead of waiting for someone else, you ask yourself "What am I going to do?" You own problems and take personal responsibility. 

Second, Like an entrepreneur, you can take action, you are determined and resilient in the face of obstacles. Entrepreneurs get things done and they don't give up when the going gets tough.  

Third, you have to ask yourself, it is all this hard work getting me towards my goals or am I just very busy? Simply working harder is not the answer. You need to work on the right things and learn how to work in smarter ways.

One bad habit people have is to keep adding things to their to do list. Yes there are endless opportunities to pick up additional tasks . But ask yourself what are you going to STOP doing? Are you working on the things that will make a difference and have a real impact? Are you owning your responsibility for creating a good work/life balance?

We believe that to be effective, the entrepreneurial mindset has to be a rigorous way of thinking and acting. So we are working to develop tools and techniques that you can use to put these ideas into practice.  Want to know more? Let’s talk...director@emindset.network

This post attracted 682 views on LinkedIn, with likes and comments from people in Denmark, England, Italy and Scotland.

January 2018 - What are you planning to change this year?

The start of the new year is traditionally the time when we make resolutions about the things we want to change in the coming 12 months.

Be clear and ambitious about what you want to change. What do you want to change about yourself? How are you going to change your organisation? How can you influence the changes needed in your town or city? How can you play a part in bringing about change in your country or across the world? Dream big!

Believe that striving for change is worthwhile and that change is possible.  Sometimes the thought of achieving even small changes in our behaviours can seem daunting, nevermind trying to change our organisations or cities. At the Entrepreneurial Mindset Network we know that if you can change your mindset then you can change the world. If you would like to collaborate, to bring about real change and make a difference in 2018 then please get in touch - director@emindset.network

Posts related to this blog on LinkedIn attracted 530 views.

November 2017 - The entrepreneurial mindset in healthcare innovation

I had the pleasure this month to run a workshop on the theme of the entrepreneurial mindset in healthcare innovation.  (Press on the picture to the left to see a short video.) 

The workshop was part of a one day conference in Copenhagen, Denmark, organised by Copenhagen Health Innovation, Copenhagen Health Cluster and Copenhagen Centre for Health Technology.  The event was a huge success, attracting over 450 people from the Danish healthcare innovation ecosystem.  

What was particularly impressive, and I really take my hat off to the organisers,  was that the delegates included representatives from higher education, local government, hospitals, private companies and the not for profit sector. It was very inspiring to see all these sectors represented and it reinforced to me key aspects of the entrepreneurial mindset which are about how best to engage and collaborate with other people. 

As individuals we can get passionate about an issue like improving healthcare but it is only through collaboration across multiple sectors that we will be able to achieve our shared ambitions for a sustainable and innovative health care system that delivers the best outcomes for patients and citizens.

If you want to find our more or discuss any of these issues then please contact me at director@emindset.network

This post attracted 2681 views on LinkedIn including likes from people in Australia, Belgium, Canada, Costa Rica, Denmark, England, Finland, Greece, India, Ireland, Italy, the Netherlands, New Zealand, Poland, Sweden, Turkey, the USA and Wales.

October 2017 - Flexing between leadership and management

To raise the performance of the people in your team, you need to be able to flex between leadership and management. On the one hand, through your leadership, you can inspire and motivate people.  On the other hand, through your management, you can ensure things get done.  Flexing between leadership and management is important.  All leadership with no management and people will soon get tired of your fine words that never come to anything.  All management with no leadership and people will become demotivated by your rule book.  A simple model with four quadrants illustrates these points: 

* Quadrant 1: When performance is strong and you demonstrate leadership, then you coach and advise people so that they can sustain their high achievements

* Quadrant 2: When performance is strong and you exercise management, then you enable people by listening to them and taking action to resolve the problems that are beyond their control 

* Quadrant 3: When performance is poor and you use your leadership, then you find ways to motivate and inspire people to raise their game and help them to see the part they can play

* Quadrant 4: When performance is poor and you take management action, then you spell out what people need to do, give instructions if necessary and are explicit about the consequences of underperforming 

Leadership AND management - it’s a balancing act which should not depend on your personal characteristics or your preferences. Of course everyone would prefer to be coaching high fliers rather than managing under performance but don’t shy away from operating in quadrant 4!  The choice of whether you should ‘coach’, ‘enable’, ‘motivate’ or ‘instruct’ is dependent on what each person in your team needs to improve or sustain their performance.  You will use each of the 4 quadrants at different times with the same person, maybe even flexing between the quadrants within just one conversation!

If you want to discuss this model further and learn about is practical application then please get in touch director@emindset.network 

This post attracted 2814 views on LinkedIn, including likes from people in Australia, Denmark, England, Italy, New Zealand, Poland, Romania, Scotland,  South Africa, Thailand and Wales.

September 2017 - 5 tips for taking action

What do you really need to get done in your life and at work? Can you hear the alarm ringing? Don’t press the snooze button. What’s the opportunity you spotted to do something new? What’s the idea you had to improve something that really bugs you? Why have you still not taken any action? 

One of the central ideas of the entrepreneurial mindset that I really like is this: it’s not only a way of thinking, it demands that you take action! Instead of wondering who else is going to sort things out, you ask yourself “what am I personally going to do about it, today?”

Here are 5 ideas to help you avoid hitting your snooze button. The alarm is ringing so it’s time to take action!

1 Don’t get trapped in the daily routine. No matter how many hours you work, there will always be more to do. So set aside time in your day to do stuff that matters.  Don’t let another week or month or year go by.

2 Be a rebel with a cause. What excites you? What drives you mad? Use that sense of passion to motivate you and help you make a difference.  Don’t forget what your dream is.

3 Take a step towards your big goal. Sometimes the size of the goal can seem daunting. Don’t wait until you have planned out all the steps. Make yourself take the first step.  Don’t delay.

4 Get a colleague on board. Who do you need to buy a cup of coffee for this week or offer to buy lunch? Finding a colleague with a common goal will keep you both motivated to take action. Don’t try to do it all by yourself.

5 Get support.  The Entrepreneurial Mindset Network can help you. You can become a member.  You can join us at a meeting - the next ones are in London and Copenhagen. Don’t miss out.

Paul Coyle, Director, Entrepreneurial Mindset Network, director@emindset.network

This post attracted 470 views on LinkedIn, including likes from people in Denmark, England, Poland and the USA.

August 2017 - 5 simple suggestions for coping with change

How well do you cope with change in your organisation? Things change and often in ways we could not have anticipated.  A useful analogy that can help us to think about change within an organisation is  music technology. There have been many changes in the ways we buy, own and listen to music. Similarly, people in organisations will have experienced many change initiatives, some short-lived (like the mini disc) and others highly successful (like the iPod). Do we need to accept and anticipate that things will change again?

Are you able to let go or do you need to hold on? In general, when change comes, we are happy that we understand the current ways of doing things and feel uncertain about how things will work in the future. This is the most difficult part of change: - letting go of what we already have so that we can take advantage of new opportunities.  We especially worry about the cost of change e.g. it’s expensive buying music again in a new format. However, in a similar way, should we expect to have to reinvest our energy and talents again and again into the new changes that are introduced by our organisations?

Are you ready for what’s coming next? New employees have a different perspective as they don’t know about the history of the organisation.  They are unaware of the way things used to be (just like they might be utterly bemused by a cassette tape and are happily embracing online streaming). However, even the latest initiatives will have their own life span. Are you ready for what’s coming next?

In summary, here are 5 simples suggestions for coping with change:

1. Accept that things will change; they have in the past and they will in the future

2. Try to identify the new opportunities that each change brings

3. Be prepared to reinvest your energy and talents into supporting new initiatives

4. Keep alert to signals that show that things are about to change again

5. Repeat steps 1 to 4!

Paul Coyle, Director, Entrepreneurial Mindset Network, director@emindset.network

This post attracted 933 views on LinkedIn, including likes from people in Australia, Belgium, Canada, England, New Zealand, Scotland and Wales. 

July 2017 - The benefits of an entrepreneurial mindset

In May and June, I had the pleasure of running workshops on the theme of the entrepreneurial mindset in Ireland and the United Kingdom. Participants came from universities in Australia, Austria, Belgium, the Czech Republic, Ecuador, Finland, Germany, Italy, Latvia, Lebanon, Norway, Slovakia, South Africa, Spain and the United Kingdom.

One of the topics we discussed was the benefits of an entrepreneurial mindset.  And this is what the people from the 15 different countries said:

  • An improved work/life balance
  • Job satisfaction 
  • Creation of better solutions
  • A clearer purpose
  • Challenge to the status quo 
  • Being more productive
  • Creativity and new ideas
  • Better ways of working with colleagues
  • Playing a leading role in a powerful network
  • Support for risk taking
  • Societal impacts

That's an inspiring list! What's also interesting is the range of different subject disciplines that participants are working in: accounting, business, chemistry, entrepreneurship, environment, health, health technologies, HR, information systems, international relations, languages and culture, law, management, marketing, mathematics and statistics, medicine, philosophy, politics, project management, psychology, religion and technology transfer.

I conclude that there are many potential benefits of having an entrepreneurial mindset which lead to valuable improvements for individuals and organisations. And these benefits can be achieved in many different subject disciplines and in a wide range of contexts all over the world. I hope this inspires you to take action!

Paul Coyle, Director, Entrepreneurial Mindset Network, director@emindset.network

This post attracted 1488 views on LinkedIn. Likes and comments were received from people in Australia, Austria, Denmark, England, India, Northern Ireland, Scotland, Sweden and Wales. 

June 2017 - Taking a risk in Higher Education

If we accept that risk taking is an essential part of being entrepreneurial, then I find myself asking what on earth does risk taking mean to people who work in Higher Education? I have been investigating this question for a couple of years now and I am often surprised that in a university, of all places, people feel that the pressures to conform far outweigh any encouragement to innovate.

I recently put a post on LinkedIn about risk taking and was delighted by the feedback I received.  The messages I exchanged with people in my network created some fresh perspectives on risk taking from the organisational and individual perspectives.

The organisational perspective

  • Most businesses are risk adverse including higher education
  • Silos between professional groups slows down innovation and therefore risk taking
  • Some universities actively discourage risk-taking
  • Having to deliver KPIs might mitigate the ability to take more risks
  • Some universities do encourage risk but it is unclear how successful they are as a result
  • Encouragement from the ‘top’ leaders is helpful
  • In encouraging risk-taking an organisation needs to understand the potential costs: mission-related, financial and reputational
  • There need to be mechanisms to monitor risk-taking and shut it down if there are unplanned negative consequences

The Individual Perspective

  • Staff can be very reluctant to change their behaviour in a risk-averse organisation
  • Risk taking is often seen as above and beyond the daily routine and tasks
  • Staff will not take risks if they are unclear about the potential rewards and penalties
  • People are unlikely to take risks if that might jeopardise their chances of promotion
  • We need to understand what motivates individuals to take or avoid risks
  • Risk-takers in different organisations could find ways to support each other
  • Taking a risk can lead to meaningful rewards e.g. setting up your own business offers the opportunity to collaborate with other people in mutually supportive ways
  • If your organisation doesn’t support risk-taking, learning and new opportunities, and these things are important to you, then maybe you should consider leaving for a different employer or setting up your own business

I believe that is essential to  develop a better understaning of why people do and don't take risks in an organisation, whether that be a university, a local council or health care provider.  I'd be very happy to discuss this further with people who share this interest. 

Paul Coyle, Director, Entrepreneurial Mindset Network, director@emindset.network