HOW DOES CREATIVITY BECOME INNOVATION?

Innovation is – as thought leader Peter Drucker describes – a tool. Daring and disruptive, it drives and delivers evolution and may be applied in varying degrees: “Purposeful, systematic innovation begins with the analysis of the sources of new opportunities,”  he says. In contradiction to the oft-considered scenario of the “light bulb moment” or exclusive…

Are entrepreneurs born or made?

All people have the capacity to become entrepreneurs, dependent on external and internal factors. Usually a triggering event prompts an individual to become an entrepreneur. Entrepreneurship is identified as a “way of thinking and doing” ….. this approach can be learned and the skills capitalised on. An entrepreneur – a person who launches a new…

Financing your venture

Lenders are used to help entrepreneurs and organisations provide the capital, advice and even strategic partnerships they need to bring their initiatives to life. When determining how to seek out lending, first be aware that there are broadly two streams of finance available to entrepreneurs – debt financing or equity financing. Typically associated with banks…

Planning does not guarantee business success

Planning does not guarantee success. Nothing guarantees success, however good planning reduces the chances of failure. Appropriate planning, tailor-made to the project or initiative, provides the platform to enable success. For emergent industries, tailoring planning is particularly relevant. Innovation thought leader Michael Porter recommends scenario-based planning to help anticipate and forecast the future. Identification of…

Factors affecting your business success

IDENTIFYING and capitalising on factors which assist the success of a potential business opportunity requires significant research and planning. The greater the planning detail, the greater the opportunity for success. In beginning, a thorough assessment/ benchmarking of the proposed venture is critical for success. A detailed assessment of a new opportunity would begin with a…

The inkling of opportunity

IDEAS plus: Research Assessment Planning Benchmarking Refining Positioning Experience Capacity Conviction and Actioning delivers OPPORTUNITY. Entrepreneurial academic Howard Frederick notes that entrepreneurs “blend imaginative and creative thinking with a systematic, logical process ability”. In this way, successful entrepreneurs mitigate risk and capitalise on opportunity when driving a concept into reality. Research is required to understand…