Project to boost ability of entrepreneurs
A low-cost intervention aimed at
fostering a growth mindset in students gave the students more confidence in
their entrepreneurship abilities and helped them persist when challenges arose,
according to a study conducted at the North Carolina State University.
The researchers focused on fostering a growth mindset of entrepreneurship - the idea that everyone can improve their entrepreneurship ability. Growth mindsets - the belief that human attributes are malleable - help students to flourish. The finding is valuable because efficacy, or confidence in one's abilities, and perseverance are powerful motivators and are critical for career development in entrepreneurship.
The students who received the growth mindset intervention, reported greater entrepreneurial self-efficacy, such as confidence in their ability to identify new business opportunities and create new products. The intervention also fostered greater persistence. This low-cost approach can be easily integrated into the classroom and is a promising tool for increasing students' motivation in entrepreneurship.