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Reality No. 2: Creativity and Innovation Matter

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Entrepreneurship is synonymous with creativity and innovation. You need both creativity and innovativeness to be a successful entrepreneur. One of these traits alone will not ensure success. Most people have always thought of creativity and innovation as one and the same but I see these two differently. Mr Inderjit Singh – The Art and Science of Entrepreneurship

One can only be called a successful entrepreneur if he/she has been able to create something out of nothing and is able to overcome the odds to create a successful business.

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There are 2 essential parts in creating a successful business.

  1. Getting the bright spark/idea, which can be quite a difficult thing to do, as it does not happen to everyone.
  2. For the entrepreneur to put together a realistic and executable plan, to gather the right resources and to execute the plan.

To achieve all this, the entrepreneur requires both a creative mind as well as a thinking and analytical mind – the creative mind to conceive the bright idea, and the thinking and analytical mind to transform the idea into a business, which requires a very disciplined execution of plans to achieve particular goals.

It is therefore wrong to think that entrepreneurship is all and only about creativity.

In essence, the real entrepreneur is one who is not only able to conceive great ideas, but also is able to execute them, by developing a good plan with a good business model, gathering all the resources and by being able to execute that plan well. I see innovation different from creativity and it is important all entrepreneurs understand the difference.

We shall look deeper into the aspects of Creativity and Innovation in next weeks lecture.

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