Entrepreneurship is a Science, an Art AND a practice.

I love maths.

If you knew me, you would probably be surprised by this.

The thing that I love about maths is that it provides a complete answer. There is certainty around the result, an ‘absolute truth’.

I apply this passion to my approach to learning about and teaching entrepreneurship — trying to get as close to the absolute truth as possible.

I believe that to get to the truth behind developing an extraordinary entrepreneur, you need to understand that entrepreneurship is an art, a science, and a practice.

Entrepreneurship is an art, a science and a practice.

Where this concept stems from

This concept is an evolution from the following quote by Peter Drucker

“Entrepreneurship is neither a science nor an art. It is a practice.”

Here’s why I believe it’s all three.

The Science

There is a brilliant youtube video of a speech by Alan Watts, called learning the human game, in which AW describes the difference between art and a science.

He describes the nature of science as being something one is able to describe accurately, which is only possible when all other important variables are measurable and can be held consistent.

The science behind a business can be considered as the business models, the lean methodology, the growth hacking, the measured approach, the prescribed methodologies for building a startup.

It’s the approach that some academic institutions and a large number of startup development organisations teach because it is more easily teachable and it works. It is the new age science behind building a business fast.

The Art

The art is the stuff that you can’t measure. It’s harder to talk about and teach this element because it is not scientifically certain.

Alan Watts emphasises that to apply a scientific approach to human relations is absurd. When it comes to human behaviour, the variables are infinite. You have no real idea of what they are.

An artist is someone who performs skills successfully but does not really know how he/[she] does it. Alan Watts

I don’t need to argue that this is definitely the case when it comes to starting a business. One can look back retrospectively and see what they did right, but at the time most extraordinary entrepreneurs were writing their own rule book and operating on gut instinct (because they are doing something that has not been done before). They weren’t making sure that their idea ticketed 10 key measurable criteria or fitted perfectly into a particular canvas.

The art behind entrepreneurship can be described as an entrepreneurs philosophy, creativity and ability to think innovatively.

The philosophy of an entrepreneur is their perception of the world and their role in it. It is formed based on the experiences and beliefs that shape them, which are completely unique to the individual. This is the ultimate unique value proposition. These unique experiences and beliefs alter how one particular person perceives the world relative to another and allows an entrepreneur to identify unique opportunities to innovate.

This is the magic behind a visionary.

When it comes to learning the art, it is more about finding the RIGHT idea for a person and unleashing the passion and creativity behind doing something that aligns with their philosophy on life.

The Practice

The practice side is all about execution, which comes down to mindset.

You can be the most creative person in the world with a great understanding of all the startup methodologies, but if you can’t execute you will never succeed.

You need a mindset that will enable you to overcome fears & self-limiting beliefs, push yourself outside of your comfort zone and reinvent yourself in order to grow yourself and your business.

This is the part where most people fall down, and it is the most important.

The science = 1 point

The art = 1 point

The practice (aka execution)= 2 points

You can have three points to build a good business.

To become an extraordinary entrepreneur, you need to have all 4.

To find out more about Mum’s Garage and how we help to develop entrepreneurs, check out our website www.mumsgarage.com