The Impact of Entrepreneurial Mindset on the Success of Innovative Business Models

Abstract

Abstract - This study aims to examine the influence of entrepreneurial mindset on the success of innovative business models among entrepreneurs in Indonesia. Amidst the growth of the digital economy, many MSMEs and startups have failed because of non-adaptive business models, even though market opportunities are available. This study uses the main dimensions of entrepreneurial mindset,which are opportunity recognition, innovativeness, proactiveness, adaptability, and self-efficacy & confidence, and how these five aspects influence the success of business model innovation. A quantitative approach was used with data collection from 100 entrepreneurial respondents and data analysis through SEM-PLS. The results indicate that only proactiveness and self-efficacy & confidence significantly influence the success of innovative business models. Meanwhile, opportunity recognition, innovativeness, and adaptability do not show significant direct effects. These findings suggest that the ability to act strategically and self-confidence in facing uncertainty play a more critical role than simply recognizing opportunities or being innovative without the support of an execution structure. This study contributes theoretically to entrepreneurship literature and provides practical implications for developing competitive business models in the era of digital disruption.

Keywords - Entrepreneurial Mindset, Proactive, Self-Efficacy, Business Model Innovation, Digital Entrepreneurship