Why do entrepreneurs need creativity?
If we have a thorough observation of the entrepreneurial process, we could see that creative thinking is the must have skill of an entrepreneur for the creation of new ideas. Creativity allows a person to devise interesting processes, which gives so many advantages to entrepreneurs.
Creativity leads to success of entrepreneur’s work life by:
1. Creating new ideas for competitive advantage.
The whole process of entrepreneurship is rooted in creation and exploration of new ideas. When an entrepreneur is able to generate a new idea that is feasible as well as efficient, it gives that person an edge over the competition. The ability to explore different niches is just like a learned skill or a resource that is possessed by an individual.
2. Thinking of novel ways to develop your product and improve the business.
Creativity helps develop new ways of improving an existing product or service and optimizing a business. There is always a room for improvement in the deliverables of an enterprise; it is the creative entrepreneur who can assess how to do it.
3. Thinking the unthinkable.
Creativity requires imagination to produce the most obscure ideas. Imagination is needed to cross the boundaries and to think outside the box. This allows entrepreneurs to think beyond traditional solutions, come up with something new, interesting, versatile, and with success potential.
4. Finding similar patterns in different areas.
Due to following a routine or a habit, the thinking process also goes along the line of those established processes. Creativity enables people to connect dissimilar and unrelated subjects and make successful entrepreneurial ideas. Merging different fields creates interesting intersections that creates new niches. Most interesting ideas come from colliding different fields.
5. Developing new niches through creativity and entrepreneurship.
In entrepreneurship, it is important that new aspects of traditional business are explored. This can be in the form of changing the method of manufacturing the product or delivering the service or how are they supplied to the user. All these areas can create a niche that has great potential in business.
How are entrepreneurship and creativity linked?
In today’s world, products are manufactured and exported to international markets. As a result, there is easier access to every product, everywhere. The consumer has access to various kinds of products ranging in type and quality. Creativity helps us think of how to improve existing business practices. A brand might be very established and popular among the consumers, but there is always something that can be done differently from them and in a better way. A creative mind is like an artist who creates new and exciting patterns on canvas. Creativity can come up with the most unthinkable ideas and bring innovation into existing practices. Using imagination, an entrepreneur can put aside the practical norms and think of something creative and innovative.
However, a creative mind has to have entrepreneurial skills to bring those creative ideas to life in a business setting. An entrepreneur assesses the requirements of how to execute an idea by analyzing available vs. required resources, how to establish a new enterprise and how to manage it. An entrepreneur designs business models that can support and execute innovative ideas in the first place. An entrepreneur provides the science aspect about how to bring the artistic creativity to life. Therefore, an entrepreneur bridges the gap between the creative genius and a traditional business approach.
