Need for Creativity & Innovation in Entrepreneurship-EFR-International

Need for Creativity & Innovation in Entrepreneurship

Posted on Posted in Entrepreneurship

Did you know

The term entrepreneurship for the first time was defined by Kantylyvn.

Traditionally entrepreneurship has been defined as the process of designing, launching and running a new business.

I believe

If an opportunity doesn’t knock, an entrepreneur will build a door that leads him to the perfect door!

Scott Belsky, co-founder of Behance has said:

“It’s not about ideas. It’s about making ideas happen.”

So when it comes to making things happen creativity goes hand in hand with innovation as there is no innovation without creativity.

Building an opportunity is not easy especially if one follows the same path which everyone has taken.

When an entrepreneur is designing a new business it may be a product which is available in the market or an invention which is launched in the market.

Isn’t it?

Today we live in an age of transformation & change where due to globalization and excessive industrialization each day there are many products launched how many of them do we all remember or do they catch our eye.

Today the consumer has access to various kinds of products ranging in type and quality.

How can one think of supplying a product in markets where consumers already have their trusted preferences and yet have so many choices to choose from?

How can one make a product stand out from the rest?

Hence today the primary concern of an entrepreneur is with developing new products, the ability to bring something new to the market bring innovation in the play to bring the best ideas into reality.

Thread entrepreneurship has always been associated with innovation, creativity, and entrepreneurship. It is so necessary and interdependent Drucker believes that entrepreneurship can say without creativity and innovation does not bear any fruits.

 

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The few reason Creativity leads to success is because

 

Leads in creating new ideas for bringing in the competitive advantage.

Both need one to be creative and innovative like for example

Micromax which is today the tenth largest smartphone vendor in the world it’s founder Rahul Sharma once saw a public call office being powered by a truck battery because of frequent power cuts in its locale. It was this that prompted him to launch a feature telephone with an extended battery life.

Micromax launched X1i, its first telephone with a month-long battery back-up from the inspiration.

They entered the segment of the mobile phone when everyone was in a race to buy a smartphone but what they did different was they made handsets in the low-cost feature phone segment in India where many can’t afford an iPhone or a Samsung Note series phone making their way in.

We must agree, the whole process of entrepreneurship is rooted in the principle of creation and exploration of new ideas.

Hence whenever an entrepreneur is successfully able to generate a new idea that is feasible as well as efficient, it gives him an edge over the competition.

 

Innovating novel ways to develop product and improve the business.

Once one enters the market with the changing and evolving markets one cannot stick to the same product time and again.

Creativity & innovation helps the development of new ways to improve an existing product or service to optimizing your business.

I believe there is always room for improvement when an innovative entrepreneur can encash the opportunity to develop the business it proves wonders.

If we take a look at world’s top 10 most innovative companies, they are Apple, Google, 3M, GE, Toyota, Microsoft, P&G, IBM, Samsung, and Intel

Do we know them?

Yes, would be the answer.

In fact, it’s the innovations and developments in the products they offer which attract us to them.

Right?

 

Thinking the unthinkable.

Creativity is the ability to produce new and unique ideas.

Hence being creative requires imagination to produce the most obscure or vague ideas.

Imagination is needed to cross the boundary of usual and normal or to think outside the box. Which then can be developed and executed.

Same way thinking outside the box helps entrepreneurs to think beyond the traditional solutions to come up with something new yet having potential to succeed.

Such an example is Amul is an Indian dairy cooperative with small farmers in a non-exploitive and a cooperative way it was founded back in 1946. It started as a response to the exploitation of marginal milk producers by traders or agents & today has grown to be jointly owned by 3.6 million milk producers in Gujarat.

Amul has been an inspiration to many it inspired so many such organizations later.

 

Development of new niches

In entrepreneurship, it is vital to bring new aspects to traditional business and explore the developments.

One can bring the development or change in various ways like

Changing the method of manufacturing the product or

Delivering the service or

How are they supplied to the user?

Or the development of the emotional connects of a product or service with the user.

All these areas can create a niche that has great potential in business.

Like I would like to share beBee an affinity networking website they offer their users best of both the world professional as well as personal. It is the best social network for sharing and creating content.

The Co-founder and CEO at beBee Javier beBee says

I see beBee like a bridge between Facebook and LinkedIN. You can enjoy both sides of you.

Where Facebook and LinkedIn use an algorithm to decide who and which followers will see one’s content, on beBee the user themselves decide for themselves. This website is focused on networking through common interests.

beBee has provided a new dimension to affinity networking why would not one like to have the best of both the worlds where they can be expressive of themselves as well as their personal brand and build relationships rather than just formal contacts as well as be in touch with their family and friends.

 

Do you agree with the need of Creativity & Innovation in Entrepreneurship?
What is your take on it?
Can you list any other reasons why Creativity leads to success?
Share your views in the comment section below!
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Sushmita Thakare Jain

Founder & CEO at EFR International
I'm a Work Enthusiast & Blogger, Looking and Searching for what Life has new to Offer.
I help business owners Build their Brands and make them irresistible, profitable & simple to run.
I want to help you build your social media and it's marketing, business growth and digital strategy with confidence, so they're not just successful, but authentic as well as reliable.
If you are not a Business owner, don't worry for you I have services like Finance Management, Retirement Planning and much more to offer!
Other than work I'm someone, who love's 2 enjoy life, I love to keep things sweet n simple just like me!!!
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41 thoughts on “Need for Creativity & Innovation in Entrepreneurship

  1. I love the quote “Creativity is Intelligence having fun”. I always say I’m not very creative but have recently been told that isn’t so. I am actually not artistic – there is a difference.
    Therefore my creativity comes with a practical side and I have used this many times to innnovate in my particular area – providing service to others.
    Most interesting and informative post.

    1. Thank you Lenie for stopping by and sharing your views, it’s good to know you liked the post so much.
      Yes, I agree there is a difference between being artistic and creative glad you figured it out and hope you keep on exploring your creative side!

  2. Terrific article. While I definitely agree with the need for creativity and innovation, I don’t think a product always has to be “new” in the traditional sense. Some of the best products are ideas that were improved upon. For example, I recall being on business trip in Japan and seeing a pocket translation guide (Japanese/English) given out by the hotel to guests. I took it back to my hotel in Maui and we turned that into an attractive free pocket guide with phrases translated from English to Hawaiian and then to another language – we actually produced this piece in 8 different languages including Japanese, Spanish, German, Korean, etc. It won a national award. 🙂

    1. The product may not be ‘new’ in the traditional sense but it needs to be different from the one available in the market or have a USP to attract the buyers towards itself.

      Also, must say the story you shared is impressive 🙂 Cheers to it!

  3. I have been an entrepreneur since 1993 and my business has continually evolved. Partly due to my own creative aspirations, partly due to market demand (or lack thereof) for certain services, and partly due to the evolution of a concept (the core of my brand.)

  4. Sushmita, you say that it’s “vital to bring new aspects to traditional business and explore the developments.” Indeed! That’s why such activities as brainstorming are so great, with “yes..but” comments not allowed. Lateral thinking is key to creativity and innovation.

  5. This post reminds me of a video I saw a while back about the education system. When a young child is given a box of paperclips, they can think of a thousand creative things to do with those paperclips. As we age, our minds lose that elasticity. Adults who stay creative and can also learn how to effectively run a business will always be a step ahead.

    1. Jeri, I do connect with you on this point.

      I remember me and my friends met out maths teacher at the reunion where she asked us the simplest query she could and all could think about was that it must be a difficult problem and solved it the difficult way, then she later was picking on us for complicating things which we solved easily in childhood days.

  6. Interesting article Sushmita.

    To he honest I have never viewed myself as creative. I am definitely more of a practical person as oppose to one who has endless great ideas. I think very logically which at times has been much prefer of a hindrance than a help.

    Entrepreneurs must always be one step of the game; know their market, their competition. They must be willing to reinvent themselves to stay current.

  7. You have to differentiate between having an entrepreneurial mind and carrying out entrepreneurial activity. The latter anyone can do but the former is partly genetic and means you are prepared to do ANYTHING it takes to succeed including taking enormous risks. When you have an entrepreneurial mind you will once in a while lose out big but after a while you are back in the saddle again. Any “entrepreneur” that has not had major setbacks don’t have an entrepreneurial mind and will not be as innovative and creative as it takes to succeed maybe especially when it comes to taking huge risks.

    1. Entrepreneurship means risk. The risk of walking away from security and career path to create something new.
      I guess, have an entrepreneurial mind! Going ahead with self-proclamation 🙂

    2. ok, creativity and innovation lead to new product but also new markets as well as new positionning, ie the latter is related to marketing input. Customer’s new needs tell us the way our mind should search for new product whereas the change in customer’s characteristics says about new markets.
      The same service should be paid by the same client onely if the company add value with a new positioning.
      My own experience as business consultant allowed me to distinguish between new product, new market and new positioning.

  8. “Imagination is needed to cross the boundary of usual and normal or to think outside the box. Which then can be developed and executed.” This sentence/idea really grabbed me. As a writer, I think it’s at the heart of what creative people are always dealing with when they take their work to the public.

    1. Thank you. Amy for sharing your views! Glad you liked the post and it could grab your attention.
      I agree with you, we share the words which we feel!

  9. Great advice that goes far beyond being an entrepreneur, they are words for life in general. Creativity is such a huge part of my life, and also one of the most difficult aspects at times! Learning how to stand out, but still keep your own voice in doing so is so important!

    1. Thank you for sharing, it feels good when your writing connects with your audience and motivates to share further! Keep visiting 🙂

  10. Amazing article. While I definitely agree with the need for creativity and innovation, I don’t think a product always has to be “new” in the traditional sense. Some of the best products are ideas that were improved upon.

  11. Creativity is like luck. The harder you work, the more you get. Being familiar with the issues and intricacies means that you are in the right mind set to have a solution or something innovative come to you. When creativity comes, it’s the best feeling.

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