Improve small business success with an entrepreneurial mindset

Small Business

Challenge

With new businesses accounting for nearly all net new job creation, small businesses have become the engines that are driving our economy. Yet, one-third of small businesses will fail within their first two years, and fifty-percent will fail within five years. Not all entrepreneurs are entrepreneurial, and those who lack an entrepreneurial mindset are at a distinct disadvantage to compete in the market.

Solution

A small business owner with an entrepreneurial mindset can see opportunities where others see none. And, a small business owner who is entrepreneurial will work to overcome self-limiting beliefs and take action to bring ideas to fruition, leveraging the resources at hand. An entrepreneurial mindset understands that building a brand of reliability and following through on simple solutions can lead to unforeseen opportunities. An entrepreneurial mindset will empower a small business owner to persist through challenges and self-doubt by building upon self-efficacy moments of success through the entrepreneurial process.

Program

The Ice House Entrepreneurship Program (Small Business Edition) has been implemented to cultivate an entrepreneurial mindset in aspiring entrepreneurs, small business owners, and economic developers.

Outcomes

Participants will consume video content, discuss and apply core concepts, engage in the entrepreneurial process, and reflect individually. As a result, they will become more empowered and engaged by:

  • Developing entrepreneurial attitudes, behaviors, and skills
  • Identifying social and situational factors that encourage or inhibit entrepreneurial behavior
  • Identifying, evaluating, and validating opportunities in ambiguous, real-world circumstances
  • Identifying and interacting with entrepreneurs who provide critical guidance and ongoing support

Process

Best practice to cultivate an entrepreneurial mindset in your organization is to:

  • Engage stakeholders with an ELI keynote and/or workshop;
  • Assess your entrepreneurial culture to identify gaps;
  • Establish your desired outcomes and evaluation tools to measure success;
  • Select key employees to become Ice House Certified Facilitators;
  • Implement the Ice House Entrepreneurship Program across your organization; and
  • Assess data and establish strengths and opportunities for improvement for the future.

Next Steps

To learn more about the Ice House Entrepreneurship Programs, join one of our monthly live Ice House Information Webinars. To become an Ice House Certified Facilitator, visit out Training page. To learn more about our entrepreneurial culture assessment and implementation support including the establishment of outcomes and evaluation tools, visit our Consulting page.

WHAT THEY'RE SAYING

  • "The Ice House program is all about understanding the mindset of successful small business owners and entrepreneurs. It doesn’t matter whether you are an established business or a prospective business, or even someone looking at ways to be a better employee, mindset makes a huge difference. And this is not something that is typically explored as part of a business planning course."

    Mike O’Donnell, Executive Director, Colorado Lending Source

  • "Having live, real people share their journey is amazing. The entrepreneurs gave of themselves from such a real place, it couldn’t help but impact my thought process and how I was thinking. They all had a different perspective, they all came from different industries, and they all had different upbringings, surroundings, and life experiences."

    Darleen Daniels, Ice House Participant, Small Business Development Center