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Entrepreneurship, Creativity and Innovation


Entrepreneurship, creativity, and innovation are three words that are often intertwined. And in some cases they are even used as synonyms for each other. But they are different. We will talk about some of these differences.

What is creativity?


Basically what we look at with creativity is the generation of some idea or solution that leads to some measure of improvement, enhancement, or difference from what is out there.

It can be important to think in the context of the initiative about process improvements or people's improvements.

When we think about the nature of this creative process, it is also different. They are often generated and triggered by background or knowledge.

And so, by this measure, when we think about entrepreneurship, we generally encourage people to think about their own experiences.

Can you start a project based on:

  • Your professional experiences?
  • Your educational experience?
  • Other hobbies or interests you have?

There is an incubation process of being able to think and evaluate. It is often not the first idea or the first solution that you will have that will be the ultimate winner.

It could be the second, third, or fourth thought. It may be a combination of the third idea and the fifth idea.

So we want to think about how to iterate and evaluate our concepts and solutions. Experience is a big part of it, as we'll talk about it.

As well as assessing what your success metrics will be. What will really create customer value What do you bring to the market? And let that guide your determination of what some of your solutions are as well.


How do you develop your creativity?


When we think about developing your creativity, we want to warn that some people think they are either creative or they are not.

This may or may not be true. But each of us can expand and foster creativity, no matter what level we think we start at.

We want to know about relationships. We want to look for different or unconventional solutions among the elements or among the people around us. We want to think about the job.

We want to think about the purpose. We want to think about how people use the solutions and where the market gaps might be.

We also want to think about the brain and the right brain hemisphere. This is often directed towards elements of imagination, the creative side.

The left hemisphere is more oriented towards this element of analysis, problem solving and rational approaches.

We may also want to connect with others and interact with friends and family that we may think are very creative or very analytical and bounce some ideas from them as well.

So when we think about this element of creativity and innovation and invention, they are interconnected.

Entrepreneurship may play a role in each of these, or all of these may combine to play a role in some entrepreneurial project.

Now, innovation is the fourth word we've thrown into the mix.

What is innovation?


Well, there are a number of classic definitions. It may be introducing something new. The novelty is something we often hear in the context of innovation.

It could be a new idea, a new method, a new device. It may be implementing, exploiting an idea.

So it's not just the idea itself, which may be the invention. But innovation could be bringing that to market, or using that idea. Or do something with this invention.

It may be a change that creates some improvement or a new dimension of performance.

For our purposes, of course, we'll think of innovation in the context of some business ideas.

This is something new, the same idea. There is something innovative about it, that is different from what might be on the market.

But the marketing piece, we'll use as a benchmark for how we measure innovation.

This is actually something that works. It is something that has been brought to market. It is something that is delivered to add value in the marketplace.

So when you think of innovation coming our way, think of some business ideas. Think of some applicable invention.



Creativity sparks innovation and entrepreneurship. Creativity is directed towards that ability to use imagination to develop something new.

It doesn't have to be brand new like a new light bulb or a new steam engine.

But it should be different enough from what is now. It differs either in the product itself or perhaps some additional innovation. Or there is a new market being introduced.

Perhaps there is a successful product in one part of the world, but it has not been realized or adapted in another part that can be offered there. So the market he's using may be new.

Or there may be new features, costumes, or brands. So when we talk about new, it's not just a new product, it's not just product level innovation, innovation can be at a variety of different levels.

And when we think about creativity, a few things we want to think about about what tools are the most creative, can we connect to divergent ideas?

Could we see something that works in the restaurant industry that might be able to apply to the retail industry.

For example? Can we think about discovering new opportunities and possible solutions? Can we think of some amount of inventing something new?

Or can we think about implementing new feasible solutions and new markets in different ways?

See: What is Entrepreneurship?
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