Why do entrepreneurs should be unique, creative and enterprising?
· All successful entrepreneurship firms are found to be innovative and they use different methodologies and different techniques in comparison to their competitors
· An entrepreneur cannot copy an organization and each organization has its own culture, processes and customer relationship and the entrepreneur can certainly learn from them
· Organisations who have succeeded in innovations are those who had a strong driver or a need to innovate. The innovation initiative is linked to the business
· Top management commitment to the initiative is the starting point of the journey
· Mistakes are part of the innovation journey and the entrepreneur should have the mind to learn to accept them and he needs the ability to take risk and kill fear of failure and there has to be culture of forgiveness.
· The entrepreneur needs to build a learning organization
· He also needs to have a lot of organizational support and most importantly perseverance in order to succeed
· He needs to have stability of people and high turnover hits innovation
· Innovation as an initiative cannot have one framework and methodology that suits the organization in order to succeed
· Only when innovation is valued by the customer will it give returns and customer valuation of the idea at various stages could be most essential
· The need to understand unstated needs of the customer is a necessity for innovation
· Idea implementation is far more challenging than idea generation
