Creativity and Innovation for Entrepreneurs

(Enjoy this article- there are links at the bottom with practical tips and resources….!)

What is creativity?

Creativity, or the development of new ideas to solve a problem, is seen as the engine for innovation which is the implementation of new or better ideas. Some words which help us understand the essence of creativity are: new, different, unusual, novel, imaginative, and perhaps most importantly possible. Creative people aren’t bound by what has been done before or what is conventional; they are only bound by the limits of impossibility. As Dale Dougherty says in his talk (video below) all of us have the potential to be creative and become ‘makers’.

Innovation and Entrepreneurs

Entrepreneurs are often naturally innovative people. However, having a great new idea is not enough to make a business come to life and start making money. Creativity has to come into every stage of the process – of developing that idea and taking it to market.

Keith Ayers writes that there are four skill types necessary to turn an idea into a successful business (see below). Of course, it’s very unlikely that all four types can be combined in one person, which is why teamwork is essential for a firm to remain both creative and successful (Ramzi Qaqish, Mowgli Entrepreneur, echoes this in his story of how TEKLABZ became one of the top 30 startups in Jordan).

The four types Ayers describes are: Creators, Advancers, Refiners, and Executors. Acccording to this framework, your team needs to include opposing but complementary skill sets, such as those who can implement and follow through plans, plus those who can review and learn and problem-solve, to complement those who have big ideas and those who can sell them. Bessant and Tidd write:

“While the initial idea may require a significant creative leap, much of the rest of the process [of getting to market] will involve hundreds of small problem-finding-and-solving exercises- each of which needs creative input.”

Entrepreneurs have to be smart enough and self-aware enough to assess the risks and pitfalls involved in developing their idea; as well as willing to put in the hard work required to make it happen. Paradoxically, one of the most important factors in succeeding at being an innovator- as Jeff Bezos (founder of Amazon) says-is being willing to fail.  You may have heard this expressed in a different way by Thomas Edison, inventor of the lightbulb and one of the most prolific and influential innovators in history- with over 2000 patents to his name:

“I have not failed. I’ve just found 10,000 ways that won’t work.”

Dale Dougherty describes how all of us can be ‘makers’ and creatives:

Why Small Businesses Have an Innovative Advantage…

Dr Jeff Cornwall’s blog The Entrepreneurial Mind, describes how small firms have a number of advantages over large companies when it comes to innovation:

Innovation Enablers 

Compared to large corporations, small businesses have a number of innovation advantages that enable them to more readily identify opportunities, quickly react to changing conditions and remain competitive. Their smaller size makes it easier and cheaper to try new approaches faster than larger businesses. These six enablers include:

 Personal passion: Personally invested, most small business owners are willing to try new approaches to make their business more successful.

Customer connection: A deep and direct relationship with the market and customers helps small businesses understand customer needs, identify new opportunities, and fix problems quickly and efficiently.

Agility and adaptation: Unlike large corporations, small businesses can quickly adapt to changing market conditions and implement new business practices.

Experimentation and improvisation: When pursuing new opportunities, many small business owners and managers aren’t afraid to experiment and improvise, accepting failure as part of the path to success.

Resource limitations: Small businesses are adept at doing more with less. And these resource constraints lend to their innovative mindset.

Information sharing and collaboration: Small businesses traditionally rely on strong social networks to share information and inspire innovative thinking.

Here’s some Mowgli overviews of ideas about innovation and creativity:

External Resources on Creativity and Innovation for Entrepreneurs:

Comments are closed.