Entrepreneurial Mindset Profile®

Scales

 

The Entrepreneurial Mindset Profile feedback report provides scores on 14 discrete scales that fall within two broad domains:

• The personality characteristics and motivations that often distinguish entrepreneurs from non-entrepreneurs, and
• The cognitive and behavioral skill dimensions which indicate how entrepreneurs typically approach tasks and the abilities they demonstrate.

Independence:  the desire to work with a high degree of independence

Preference for Limited Structure:  a preference for tasks and situations with little formal structure

Nonconformity:  a preference for acting in unique ways; an interest in being perceived as unique

Risk Acceptance:  a willingness to pursue an idea or a desired goal even when the probability of succeeding is low

Action Orientation:  a tendency to show initiative, make decisions quickly, and feel impatient for results

Passion:  a tendency to experience one's work as exciting and enjoyable rather than tedious and draining

Need to Achieve:  the desire to achieve at a high level

Future Focus:  a tendency to think beyond the immediate situation and plan for the future

Idea Generation:  a tendency to generate multiple and novel ideas, and to find multiple approaches for achieving goals

Execution:  the ability to turn ideas into actionable plans; the ability to implement ideas well

Self-Confidence:  a general belief in one's ability to leverage skills and talents to achieve important goals

Optimism:  the ability to maintain a generally positive attitude about various aspects of one's life and the world

Persistence:  the ability to bounce back quickly from disappointment and to remain persistent in the face of setbacks

Interpersonal Sensitivity:  a high level of sensitivity to and concern for the well-being of those with whom one works

 

Applications

 

Companies of all sizes and shapes can benefit from employees making the most of their entrepreneurial capacity.  One positive aspect of the EMP is that it can be given to individuals at all levels and in different types of organisations and settings.  Below is a description of the primary applications.

Leadership Development

 

Our research suggests that to compete successfully in the 21st century; organisations must be driven by an entrepreneurial mindset.  Given how current economic conditions require that companies think in a more entrepreneurial way to survive, it is essential that people have these fundamental skills.  With in-depth feedback on 14 scales, the EDP allows leaders to compare their scores with entrepreneurs so they can leverage their strengths and target areas for further development.

Career Development/Individual Coaching

 

The Entrepreneurial Mindset Profile can be used alone or in combination with other assessment tools to help talented leaders and individual contributors move into more complex or demanding roles and prepare them for future career growth.  This approach is often used in one of the three following scenarios:

• The employee has attended some type of training program either within the organisation or from an outside vendor and would like additional, follow-up coaching specifically in the area of "entrepreneurial mindset";
• The employee does not particularly like group learning environments and prefers a one-on-one setting; or
• The employee is especially interested in increasing his entrepreneurial capacity and wants targeted assistance.

In each of these cases, feedback on the EMP and subsequent developmental planning can be very beneficial.

Team Development

 

Composite information (Group Reports) on the EMP can be invaluable in determining training needs and strategies for the future.  Areas of strength can be celebrated, and development areas can be specifically addressed in targeted follow-up sessions.  Facilitating open discussions about EMP team feedback not only can clarify goals and objectives but also can lead to increased growth and productivity.  Group Reports can be produced for intact teams, specific departments, or customised groups.  Comparisons among different teams can be particularly revealing as to which areas of entrepreneurship need more attention.

Organisational Development

 

The Entrepreneurial Mindset Profile can be used on a company-wide scale to maximise the potential of the entire organisation.  Before implementing an organisational development initiative, there is great value in first diagnosing and understanding the role of the organisation's "entrepreneurial culture" and its impact on the new initiative.  Widespread feedback throughout an organisation establishes the foundation for changing an organisation's culture to one where effective entrepreneurial responses are the norm rather than the exception.  This type of comprehensive approach helps to "unleash" entrepreneurial capacity and benefit the organisation as a whole.

Succession Planning

 

The EMP can be used as one of the factors considered in promotion decisions.  Given the connection between the "entrepreneurial mindset" and making a business successful, EMP feedback can be instrumental as a manager progresses up the ladder.  In combination with additional assessment tools and other methods, such as in-depth interviews, simulation exercises, and job fit analyses, the EMP adds an objective view of a candidate's entrepreneurial tendencies.

 

The Entrepreneurial Mindset Profile Development Guide

 

An important question for any assessment tool is, "So what?"  What do these results tell me?  How should I interpret them?  How can I benefit from this information?  Can I use this information to make me more effective?

Fortunately, with the EMP, these questions can be answered.  When an individual or team takes the EMP, not only do they receive a thorough Feedback Report, but they also get a 75-page Development Guide containing the following sections:

• Interpretive material, suggestions for development, and recommended readings on each of the 14 scales;
• Current books and Websites on topics related to entrepreneurial mindset;
• Effective action planning tips; and,
• Guidelines for continuous improvement.

This practical and user-friendly resource helps participants synthesise their results and generate a plan to leverage existing strengths and/or enhance skill sets.  If extended development is desired, personalised feedback sessions and ongoing coaching are available through the Leadership Development Institute.

 

Have a quick glance at a section of the Development Guide.