Innovation Is The Key To Successful Entrepreneurship

Innovation Is The Key to Successful Entrepreneurship

By

Theodore Henderson

The Wisdom Man

Image via via_christiandfahey_wordpress_com
Image via via_christiandfahey_wordpress_com

An idea is the fundamental building block of every successful entrepreneurship venture. The market continually evolves, and companies must adapt to maintain their market status. Finding new ways to improve a business situation and broaden its list of services is paramount to the company’s future on the market. Thus, having broad knowledge and innovation skills are keys to business longevity. 

Innovation and entrepreneurship are intertwined in business. Having fresh ideas to tackle new business concepts gives companies an edge in the competition. Innovations are analyses of the current business opportunities and the creation of outstanding strategies that yields the best results with minimal resources. Also, innovation improves the receptivity of the company for more business ventures and finding means to unlock new doors for more.

Establishing entrepreneurial competence is paramount to business success. The primary goal of entrepreneurship is to create leadership in a market niche by continually reforming the product image to best suit the needs of the market. Innovation plays a key role in establishing entrepreneurial leadership in the marketplace. With new ideas and new strategies to endorse products to the market, companies shed a new light to their product line.

Innovation, however, cannot be produced overnight. To make full use of innovation as an entrepreneurial tool, companies must look forward to making innovative activities a healthy daily habit. Providing seminars and quick routines to encourage creativity among employees is a good way to increase creative skills.

Encouraging creativity frees employees from the analytical foundation of their problem-solving skills. Analytical thinking leads people to a linear and singular manner in assessing situations. It leads them to proceed without questioning their assumption and their standard and routinized problem-solving ways.

Lateral thinking, or innovative thinking, takes them a step back to see the problem in a holistic and multi-dimensional manner. Seeing the problem from a different angle unlocks new problem-solving ways and opening new options for the future.

As such, companies hire people with outstanding innovative capabilities instead of those with an analytical mindset. Unfortunately, most college graduates develop analytical thinking as a product of the study habits in the universities. It stunts the creative powers of the mind by pressuring it in finding the right answer. 

Innovative thinking starts with creativity. Establishing creativity as a company value can remove the analytical way of thinking. The basic formula for successful entrepreneurship has an idea along with creative means to share it with a particular group of people. Creativity is the primary value of the successful entrepreneur. Keeping notes of ideas is a good way to enhance creativity. Encouraging the brain to come up with ideas and writing them down for future use is a good entrepreneurial practice.

Failure, however, comes along with creativity. Engaging in new paths is bound to be met with disappointment at some point. Entrepreneurs, however, see these failures as a part of the process towards success. Bringing a positive attitude towards seemingly negative things sparks the creativity process that has brought success to every successful venture on entrepreneurship.

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About The Author

Theodore Henderson works with business owners, entrepreneurs, and corporate professionals. He is an Amazon best-selling author, a Certified Career Coach, a Certified Leadership Coach, and a Certified Social Media Security Professional Powered by CompTIA. In addition he is the author of the business program “Launching Your Great Business Idea,” as well as the author of the following books; “The Wisdom Compass”, “9 Simple Strategies to Becoming A Strong Leader” and the Security eBook “30 Smart Ways to Protect Yourself from Cyber Criminals” aimed at owners of Smartphones, Mobile Devices, and also those who have significant online activities including Social Media, financial services, etc. He is available for keynotes, seminars, and workshops. He may be reached through www.TheodoreHenderson.com.

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