6 tips on being a successful entrepreneur | John Mullins

Counter-Conventional Mindsets of Entrepreneurs

Entrepreneurship professor John Mullins encourages counter-conventional thinking in business. He shares six mindsets that go against traditional practices. The first mindset is saying 'yes, we can' to opportunities that lie outside of core competencies. Arnold Correa's success story exemplifies this approach as he ventured into unfamiliar territory by saying 'yes' to new customer requests. The second mindset emphasizes problem-solving over product-driven innovation. John Thorne's surgical forceps with improved functionality for surgeons showcase this problem-first thinking. Another mindset is thinking narrowly instead of broadly, as seen in Nike's focus on designing specialized shoes for distance runners. Musk's Tesla leveraged the mindset of asking for cash and riding the float, allowing them to secure funding from customers before launching their products. Lastly, the 'bag, borrow, but please don't steal' mindset highlights the importance of leveraging existing resources, as demonstrated by Tristram Mayhew and Rebecca Mayhew who built Go Ape by borrowing trees and land from the Forestry Commission.