On April 4th and 5th, Shizenkan University held an offline open class “The Entrepreneurial Mindset -What Distinguishes Successful Entrepreneurs from Others?” by Associate Professor Shunsuke Nagao.
Businesses that are responsible for technological innovations by entrepreneurs such as Elon Musk are now inseparable from our lives. This situation can be confirmed by various statistics. For example, it is estimated that the market capitalization of innovation-related industries will increase 15-fold, from 14 trillion US dollars to 210 trillion US dollars in the 10 years from 2020 to 2030, and the budget allocations of governments in various countries are also showing that more and more government budgets are being allocated to the startup sector.
The open class included an explanation of the external factors that make an entrepreneur successful and the basic requirements that an entrepreneur needs. In addition to external factors and basic requirements, Associate Professor Nagao says, “Successful entrepreneurship requires a mindset of clarity of thought, high communication skills, extraordinary energy, a strong sense of mission, a massive willingness to persevere, and the determination to make hard decisions.” He also applies Jim Collins’ “Hedgehog Law” to entrepreneurship, that “the fox knows many things; the hedgehog knows one big thing.” Either approach can lead to good results, but if a person is to pursue an entrepreneurial pursuit, it is vital to keep in mind that there will be investors or partners that will prefer one over the other,” he advised.
During the Q&A session, “How much luck plays a role in a successful startup?” asked one of the participants. Associate Professor Nagao responded, “Sometimes you have all the external factors, the basic requirements, and the mindset, and yet you don’t succeed. Luck can also be described as ‘timing’. If customers, government and technology are not ready, your idea, service, or product might not be as fruitful. In that sense, the secret to your success may be to be like a fox, sensing all sorts of signals and letting your luck roll in.”
Shizenkan University values not only theoretical knowledge, but also opportunities for practical application, such as developing business ideas and presentations to venture capital investors. Following in the footsteps of our graduates who are now active as entrepreneurs, we hope that you will take up the challenge of studying at Shizenkan.
For more event information, please check our upcoming open class schedule here.