Who does not have an idea? About something, about anything. It is not ideas what the world lacks. It is the ability to make them real, meaningful, and sustainable.
– What? Come on! Everybody knows that what is needed to be a good entrepreneur is to have a good idea!!! And now you say this? Are you serious?
– Sure! Ideas come and go, change, evolve, as quickly as we change our focus of thoughts, or we look somewhere else. But this is not what will make the world change. Nor your financial situation improve. We need people, professional people, who are committed to make such ideas come true, at the cost of their own lifelong learning and being able to engage others with the same spirit in the same purpose. We also need to understand that perseverance is needed and not easy, but stubbornness is counterproductive.
– Again, what???
– Yes, we need perseverance, consistency, but also flexibility, and the humbleness needed to realize when something does not work or needs to be changed. Even to be abandoned. And to move on. Those are the so called “pivots”. There are fancy words for any uncomfortable situation.
– what about innovation, then?
– Innovation can be just doing things better or more effectively than they were done before. It is not necessarily a big change in the way world works. And do not take this as a criticism, because improvements, innovations, is what is making the world and humanity evolve.
– And if I have a disruptive idea?
– Ideas are not disruptive. Not all innovation comes from disruption. What is disruptive is the effect of the innovative ideas or the innovative implementation of old ideas. Innovation can also happen when two old ideas meet for the first time.
– Then what is disruption?
– Disruptive innovation is to provoke a radical change in the behavioural patterns of a mass of individuals, then creating a subsequent radical change in the economics of the disrupted industry/activity.
Now, talking about economics, read my next post on investments in entrepreneurship and cost of capital.