Part of the romanticism of entrepreneurship is the thought that entrepreneurs are creative, innovative, go-getters, risk-takers, driven. All of that implies high self-esteem and determination. In reality, having a clear understanding of creativity, innovation and entrepreneurship allow managers of institutions and corporations, as well as individual, manage each area differently to get the best results.
People like creativity simply because it is fun. We reconnect with the pure pleasure of getting something that did not exist before. When we create we forget our problems, we are just being, the child comes out, we connect with ourselves and it simply feels good. Our energy pours from the inside to the outside and leaves our imprint, the object of our creation becomes an extended part of ourselves. Creativity also lives in a time and purpose vacuum. The worst enemy of creativity is a good idea.
People like innovation because it implies progress. When we innovate, we have a structure. Innovation becomes to change. To change we need the reference, the constraints, the structure, the present, what is there. When we do things differently, we are also creating, but we create with a purpose, fun stops until we reach our goal. Thus, innovation has less power as self-expression than creativity.
Then we come to the field of entrepreneurship, one of my favorite topics. Entrepreneurship is more about creating wealth than it is about creating a company. It is closely linked to creativity, entrepreneurs MUST have something NEW to offer. It is related to innovation, entrepreneurs MUST find new ways of getting in the market, making something new, doing things differently.
When we check most new businesses, they are me-too’s, and most so-called entrepreneurs are people who have bought themselves a job. They don’t create, innovate or add wealth. They shift what exists to a different person.
Entrepreneurship then is the process of exploring how to add value to others in a new or different way. Entrepreneurs capture that value in the form of wealth, and then that wealth with others: clients, users, employees, suppliers, community, governments, etc. To understand that being creative and being innovative is not enough and to be aware that there is a maximized value waiting to be discovered or created, is what entrepreneurs do best when they plan, then they take action, and finally, they evolve.
It is not a matter of luck as most people link entrepreneurship with creativity and innovation. If you don’t have anything, you create. If you have an unwanted present, you innovate. If you want to create wealth, you give that creation or innovation, the best chance. You don’t need money to create wealth, you need creativity and innovation.
It is by thinking and taking action, by consciously discovering where the creations or innovations have the highest perceived value that entrepreneurs build their wealth… and by doing so, create prosperity beyond themselves. It is not about becoming rich but building wealth.
Without the notion of creating wealth, creativity and innovation can’t find a place in the market. To be able to distinguish where the highest value is, who is the ideal customer or client is to bring prosperity to our communities, and to act upon that thought, is what entrepreneurs thrive at.
There are many tools and methods that capture how entrepreneurs create wealth. It is not an art or a science. It is the conscious effort of making the best of a product or a service, to find those who value it best and capture that value, what lies inside the entrepreneur.
Creating wealth escapes the obvious, and creates new valued propositions. Sometimes we use innovation to improve what is there, but most likely, the best results come from a free, playful, fun exercise of creating wealth. Whatever you do to create wealth will improve your skills and build up that wealthy muscle. Even if you compose a song in tribute to your wealth when you are showering!
Here is to your wealth and joy,