Monday, July 20, 2009

The difference between an Entrepreneur and someone with Ideas?

Although it sounds like the start to a bad joke, I was thinking about what the difference between an Entrepreneur and someone with ideas actually is, and what the benefits of each are. I feel that the difference can, in general, be explained but the following equation :
Entrepreneurship = Ideas person + Business knowledge
+ Drive to create a product or service to make money

According to Wikipedia Entrepreneurship is "the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities".

I couldn't find
find an entry for "Person who has ideas" although I feel that you could probably say it was similar to an Inventor. From Wikipedia's Inventor entry: "An inventor is a person who creates or discovers a new method, form, device or other useful means."

So an ideas person, may create the idea and build it, maybe even give it away, where as an Entrepreneur either takes an idea, or comes up with it themselves, forms a business strategy around it and drives the opportunity. The good thing is that both are looking for useful solutions to identified opportunities.

Don't get me wrong, the ability to create new ideas is a great, and a huge skill in itself. This is especially true if you can accept that you may not be an
Entrepreneur, and you may need help in the business ownership, drive, strategy space. If you are a true Entrepreneur then you can consider yourself a very lucky person.

Regards,
Simon Collings
Solutions Manager
Serendipity IT Ltd

1 comments:

Rory said...

You forgot to emphasize on having the instint as to which ideas will be worth investing or not - lots of people have ideas - some maybe be modiocre enterpreneurs - few will have the instint to know which ideas will work or not!