Blink and the Entrepreneurial Mindset - Essay Example

Blink" and the Entrepreneurial Mindset For many years the debate about small business owners versus the entrepreneurial mindset has been raging. Central to the debate is whether all small business owners are considered entrepreneurs or whether there is a different mindset between these two business owners. Most people would say that the entrepreneur has a different mindset than most small business owners. But what is the difference and how can Gladwells book be used to understand the entrepreneurial mindset? This is the task set forth in this writing. Introduction and Chapter One The entrepreneurial mindset is comprised of many different traits. The entrepreneur can be seen as a special breed of small business owners who are concerned with living life to the fullest. They understand a bigger picture as they are discovering how their business works. Entrepreneurs are often seen as free thinkers who are always looking for new ways to express their business and who are always looking for unique ways to get their business out to the public. Experts often say that the entrepreneurial mindset is key to the entrepreneurs ability to solve problems in a unique and interesting way. In the beginning sections of Gladwells book, the reader is introduced to several new concepts. He is most interested in the concept of instinct although he does not call it instinct. He calls it the ability to understand a lot of information through a small bit of information. This information comes within the "first two seconds" (p. 8) of obtaining information. He calls this concept, "thin-slicing" and further defines it as "the ability of our unconscious to find patterns in situations and behavior based on very narrow slices of experience" (p. 23). When looking at the entrepreneurial mindset, the entrepreneur has the ability to think-slice all the time. They are constantly moving forward and gathering small bits of information in order to find new and innovative ideas. Gladwell sees intuition as important because it works before the conscious mind begins and often gives the most information these first few seconds. Gladwell also discusses the concept of rhythm in that in human relationships a natural rhythm emerges. For the entrepreneur, this rhythm acts as a second sense for the entrepreneur that allows them to provide their best service to their customers because they can determine their needs easily. Gladwell explains that thin-slicing is an automatic and instinctual way of understanding information quickly in any situation. Thin-slicing particularly happens in the first few seconds when someone approaches a new person or new situation. Chapter Two Entrepreneurs learn to make snap judgments and to rely on them. Gladwell calls this awareness "of the value of the products of … unconscious reasoning" (p. 51). Gladwell introduces the concept of priming which someone understands this value of their unconscious awareness. Priming is described as an automatic response to things that happen on a daily basis. People are influenced by outside influences. With an entrepreneurial mindset, the entrepreneur has the ability to influence the outcome of a sale by helping their customer satisfy a need. The need is justified by the customer through the reinforcement of the need with a solution by the entrepreneur. Both parties are happy with the solution. Gladwell suggests that in most people the unconscious is the locked door of information that is instinctual but that most people do not recognize when they are using it. The entrepreneurial mindset captures the subtle nuances of the instinctual response and understands how to use it to their advantage. For the most part the entrepreneurial mindset can be like a dream state. The entrepreneur is always working on their dream and improving upon it. The unconscious plays a part in the dream because they are able to gain insight by asking themselves the "What if?" question. Gladwell points out that one way this dreaming is productive is in developing quick responses based on the experiences we have from the past situations. He talks about the idea that people are able to connect pairs of ideas that we relate to in our minds easier than between ideas that we find unfamiliar. The entrepreneurial mindset is always building upon concepts they already know but at the same time, looking for new connections. Chapter 3 Gladwell also sees a negative or dark side to the unconscious that can have damaging consequences. He uses the research in IAT to show how this works. One of the IAT tests is about race and it asks the test taker to rate several items. What the research found was that most people have positive or negative ideas about certain races based on the way that society has influenced the unconscious mind. In hiring this can cause a discrepancy in the way certain people are seen. As an example, an entrepreneur may see a difference in people based on their immediate physical traits rather than on their experience. However, this also is an automatic way to thin-slice competition if the individual does not have an awareness of their unconscious. In other words, to find the best fit for a customer or a situating, the entrepreneur must have the awareness of how their unconscious works in both positive and negative ways. The entrepreneur learns to never prejudge someone but to gather facts and try to help the individual to the best of their ability. Gladwell suggests that the negative aspects of thin-slicing are in the individuals snap judgments. Unless the entrepreneur learns the first impression they may be making the wrong decision about a customer or colleague. The entrepreneurial mindset is different for each individual. In working with relationships, we must build them if we want to gain more sales. Most successful entrepreneurs would agree that there are times when snap judgments have caused them to lose a sale or send a potential employee to a competitor who understood their own bias and were able to fight against it. Chapter Four Another insight that Gladwell brings is the relationship of spontaneity and introspection. Most people would agree that introspection is important to anyone in business for themselves. Gladwell sees it as a detriment in some situations and it can slow down the thought process. He explains that the process of introspection works differently than the process of spontaneity and they have different rules. However, most of the time a balance must be found between them if the entrepreneur is to use them effectively. One area that spontaneity and introspection work well together is in decision making. The entrepreneur must understand that decision making is not totally done with the thinking mind. As Gladwell states, "truly successful decision making relies on a balance between deliberate and instinctive thinking" (p. 141). Also, decision making is best when there is a small amount of information. Otherwise, an individual can become overwhelmed and getting to the decision making can take longer. In thinking about this chapter, I think the entrepreneurial mindset allows the entrepreneur to develop their strategies and provide the ultimate understanding of business. Perhaps this is how entrepreneurs are able to stay ahead of their competition. Gladwell pushes the reader to accept their own intuitive nature so they can better identify what they need. Chapter Five In chapter five, Gladwell talks about consumers and how unpredictable they are in their choices. Gladwell gives several examples of name brands that were tested on this concept. What he gained from several experiments or taste tests done in this chapter, is the fact that people can thin-slice easily from very little information, but that it has to be done in context. However, the thin-slicing must be long enough for the consumers to gain a preliminary understanding of a product but not so long that the consumer becomes bored with the product. As an example, Gladwell points out that the musician Kenna had a better sale of his records when consumers had seen his video or seen him in a live concert. An insight form this chapter suggests that the entrepreneurial mindset is responsible for understanding how consumers relate to a product or service, and that building a rapport with the target market is essential for positive growth in the business. Building relationships is important to a business because without adding rapport to a service or product the business has a difficult time making sure consumers understand what they are doing. Chapter Six In chapter six, Gladwell talks about facial expression and how we cannot use the first impression that we find from the facial expression of an individual. He gives several examples of how people judge others by reading their facial expressions but he cautions against deciding what the individual is saying whit this expression. He equates facial expression to the ability to read a persons mind. He suggests that this is the way that people are about to thin-slice other people they meet or those with whom they have a relationship. This is also the way in which people understand whether someone is being judgmental. The point of this section seems to be that the entrepreneurial mindset is able to read people easily and accurately without prejudging them. This mind reading as Gladwell calls it can be effective for the entrepreneur if they keep in mind that reading body language is really what they are doing. Gladwell acknowledges that experience in certain situations can improve a persons ability to mind read and thin-slice. Experience allows an individual to use better judgment under pressure and snap judgments become easier to use. The entrepreneurial mindset brings experience in order to balance knowledge and opportunity. The entrepreneur with experience in their chosen field is able to create a stronger base of information for customers and can think quickly on their feet. Conclusion Gladwells book tells about the specifics that an entrepreneurial mindset must have in order to be successful. The book suggests that human beings have a natural instinct for bias especially when they are making quick judgments. They are able to thin-slice very quickly in any situation. For the entrepreneur, this means that they are able to think on their feet quickly and they can arrive at decisions easier if they follow their instinctual entrepreneurial mindset. Read More