Entrepreneurial Creativity is about coming up with innovative ideas and turning them into value-creating profitable business activities.

Entrepreneurial Creativity Defined

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Entrepreneurial Creativity is about coming up with innovative ideas and turning them into value-creating profitable business activities.

     Entrepreneurial creativity = creativity × entrepreneurial action.

Continuous Innovative Activity

     “Creativity is a continuous activity for the entrepreneur, always seeing new ways of doing things with little concern for how difficult they might be or whether the resources are available. But the creativity in the entrepreneur is combined with the ability to innovate, to take the idea and make it work in practice. This seeing something through to the end and not being satisfied until all is accomplished is a central motivation for the entrepreneur. Indeed once the project is accomplished the entrepreneur seeks another ‘mountain to climb’ because for him or her creativity and innovation are habitual, something that he or she just has to keep on doing,” says Bill Bolton.

     This is why entrepreneurs, disturb markets, ‘thrive on chaos‘, and can challenge large established businesses.

Changes – the Source of Opportunities

Value innovation is the specific tool of entrepreneurs. Doing new things, or doing old things in new ways is how entrepreneurs exploit change as an opportunity for a different business or a different service.      Entrepreneurs see change as the norm and as healthy; they always search for change, respond to it, and exploit it as an opportunity.

Innovation can be approached methodically, by a purposeful and organized     search for changes and by identifying the opportunities that such changes might offer. In your search, focus on opportunities, not problems, these changes can bring along. Results come from exploiting opportunities, not solving problems.

 Case in Point  Ford Motor Company

Ford Motor Company has been leading the automotive industry in design innovation for more than 100 years. In their basic corporate value statement, Ford Motor Company writes, “Our business is driven by our customer focus, creativity, resourcefulness, and entrepreneurial spirit.”

Take a Different View

     It was by taking a different view of a traditional business that major innovations were achieved.To find a better creative solution to thecurrent practice, force yourself to reframe the problem, to break down its components and assemble them in a different way More

The Power of Your Cross-Functional Expertise

Your mind can accept only those ideas that have a frame of reference with your existing knowledge. It rejects everything else. If your knowledge is functionally focused, you’ll be open to new ideas related to your functional expertise only and will miss all other learning and innovation opportunities.

If you develop a broad cross-functional expertise, no new idea will be wasted. It will immediately connect with the existing knowledge and will inspire  you, energize you, and encourage your entrepreneurial creativity. The broader your net, the more fish you can catch.

 Case in Point  Coco Chanel

“In order to be irreplaceable one must always be different,” said Coco Chanel, a pioneering French couturier and the Founder of Chanel Inc.

“People laughed at the way I dressed, but that was the secret of my success: I didn’t look like anyone.”

Ask Searching Questions

Don’t ask one or two questions and then rush straight towards a solution. With an incomplete understanding of the problem it is very easy to jump to wrong conclusions.

Ask open-ended questions that elicit a wide rage of answers:

  • ‘Why’ questions  to discover the roots of the problem

  • ‘How’ questions to discover different routes to significant improvement… More

Take Action

Action is the key to your success. Most of the problems in life stem from one cause: we can’t get ourselves to take action. It’s not that we don’t know what to do. The problem is getting ourselves to follow through and do it.

Success isn’t determined by genetics. It’s about persistent, consistent action.

Action is the key. You can be the most talented person in the world or have the best ideas, yet still if you do not take action you will achieve nothing.

Having dreams and passion is not enough. If you wish to achieve  something, don’t let life just “happen” to you. Set goals and take action… More

Turn Failures Into Opportunities

To profit from experience you must be open and willing to learn, even from what some people might consider a failure. What may seem to be a failure can actually lead to new opportunities, especially if the knowledge acquired from the failed projects can be exploited. Change your perspective and ask right learning questions More

Don’t Quit, Keep Going

The law of inertia says that “a body at rest tends to remain at rest or a body in motion tends to remain in motion.” See the problem as a growth opportunity. A tiny actions can when taken in a negative situation may result in your greatest growth.

 

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