Do you have the confidence to attempt the difficult?

Objectives Examine confidence in the context of entrepreneurial behaviors Explore the impact of confidence on success as an entrepreneur Assess your personal confidence

The Opportunity Analysis CanvasTM Industry Condition Entrepreneurial Motivation Competition Entrepreneurial Mindset Industry Status Opportunity Identification Entrepreneurial Behavior Confidence Risk Interpersonal skills Social capital Value Curve Macroeconomic Change

Entrepreneurial behavior Entrepreneurial mindset and motivation can only translate into action with entrepreneurial behaviors Behaviors most critical to entrepreneurial opportunity analysis and action are Confidence Risk Interpersonal skills Social capital

one’s powers or abilities” Defining confidence “belief in oneself and one’s powers or abilities” Self-confidence Self-reliance Assurance

Confidence and self-efficacy are two sides of the same coin Positive self-efficacy increases the likelihood that an individual will discover entrepreneurial opportunities and the individual’s confidence in their subjective judgment about uncertain events (Shane, 2003). Self-confidence impacts how well you perform and how satisfied you are with your decisions

Why it’s important to understand you personal confidence level? Entrepreneurs must have confidence in their own judgments Particularly when these decisions differ from popular opinion or the advice of others Entrepreneurial opportunity discovery is constrained if there is Limited confidence in one’s judgment Discomfort with being at odds with the majority (Casson, 1995; Ripsas, 1998)

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