Think Big Case Study – The Psychology of Entrepreneurs - Business Insight - Canon Singapore

    Think Big Case Study – The Psychology of Entrepreneurs

    Think Big Case Study – The Psychology of Entrepreneurs

    Stephen Lew, founder of The School of Positive Psychology, believes that entrepreneurs with positive emotions and traits are more successful as they think faster, are more creative and socially engaged.

    Being positive

    The School of Positive Psychology was established in 2007 to promote the practice of positive psychology in Asia. Unlike traditional psychology, which focuses on the negative aspects of life, positive psychology is the study of what goes right, explains founder Stephen Lew.

    He gives an example of how people are put off by the idea of starting their own businesses because of pre-conceived obstacles. Positive psychology teaches them to overcome these barriers, which are often psychologically, and better understand what they wish to achieve.

    Another advantage of this school of thought is that it imbues people with positive emotional traits that draw others towards them. For entrepreneurs, this increases their chances of succeeding at they will have more partners and resources at their disposal.

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    Switching mindsets

    Another aspect Stephen discusses is the mindsets entrepreneurs should have. According to him, a fixed mindset is needed when starting a business as it enables the entrepreneur to focus on the goal of getting the company up and running.

    But on the other hand, running day-to-day operations requires a growth mindset, one that is open to learning from others and flexible enough to adapt to changing situations. If entrepreneurs are able to switch to this mindset when the situation calls for it, they will be better prepared for the challenges ahead.

    Fear: Friend or foe?

    The last point Stephen touches on is the element of fear. In the entrepreneurial context, he says that it can work both for and against you.

    When treated as a crippling force, fear instills negativity in a person. But by paying attention to the source of fear and understanding what it’s saying, one can draw courage from it and turn fear into a strong ally, Stephen explains.

    Aim for the extraordinary

    What’s the difference between a successful person and a normal person? The answer, Stephen says, is that the former is merely a normal person with who has achieved extraordinary goals.

    This exemplifies Canon’s mantra of thinking big, which is perfectly aligned with the school of positive psychology — because being successful in business all begins in the entrepreneur’s mind, he adds.

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