Inside the Entrepreneurial Mind: From Ideas to Reality

1. Inside the Entrepreneurial Mind: From Ideas to Reality Chapter 2

2. LEARNING OBJECTIVES: • Explain the differences among creativity, innovation, and entrepreneurship. • Describe why creativity & innovation are such an integral part of entrepreneurship. • Understand how the two hemispheres of the human brain function and what role they play in creativity. • Explain the 10 “mental locks” that limit individual creativity. • Understand how entrepreneurs can enhance the creativity of their employees as well as their own creativity. • Describe the steps in the creative process. • Discuss techniques for improving the creative process.

3. CREATIVITY, INNOVATION, AND ENTREPRENEURSHIP

4. Creativity – the ability to develop new ideas and to discover new ways of looking at problems and opportunities Innovation – the ability to apply creative solutions to those problems and opportunities to enhance or to enrich people’s lives. *Creativity is thinking new things. *Innovation is doing new things.

5. “Entrepreneurs succeed by thinking and doing new things or old things in new ways.” *Successful entrepreneurs come up with ideas and then find ways to make them work to solve a problem or to fill a need. *Sometimes creativity involves generating something from nothing.

6. *Creative ideas often arise when entrepreneurs look at something old and think something new and different. *Entrepreneurship is the result of a disciplined, systematic process of applying creativity and innovation to needs and opportunities in the marketplace. *Innovation must be a control process because most ideas don’t work & most innovations fail.

7. CREATIVITY – A NECESSITY FOR SURVIVAL

8. *When developing creative solutions to modern problems, entrepreneurs must go beyond merely using whatever has worked in the past. *Entrepreneurs must always be on guard against traditional assumptions & perspectives about how it should operate.

9. Paradigm – a preconceived idea of what the world is, what it should be like and how it should operate --- they act as logjams to creativity

10. Paris in the the Spring Time Once in a a lifetime Bird in the the hand

11. We see what we expect to see Successful entrepreneurs are those who are constantly pushing technological & economic boundaries forward must always ask “ Is it time to sacrifice the Queen?” Success – even survival – in this fiercely competitive, global environment requires entrepreneurs to tap their creativity (and that of their employee) constantly.

12. CAN CEATIVITY BE TAUGHT? Hundred Chun Hundred Chun Hundred Chun Hundred Chun Hundred Umph Umph Umph Of the Spirit Grace . Standard Standard R E A D ALL 1111 4 ALL R ROADS A D S Objection ruled CYCLE CYCLE CYCLE

13. Creative Thinking

14. It all starts in the brain. The brain has two hemispheres. Left brain —guided by linear vertical thinking.

15. Right brain — unconventional, unsystematic and unstructured thinking. —the heartof the creative process.

16. Those who have learned to develop their right-brained thinking skills tend to: °Always asks the question, “ Is there a better way?” °Challenge custom, routine, and tradition. °Be reflective, often staring out windows, deep in thought. °Play mental games

17. °Realize that there may be more than one “ right answer”. °See mistakes and failures as mere “pit stops” on the way to success. °Relate seemingly unrelated ideas to a problem to generate innovative solutions. °Have “ helicopter skills”.

21. BARRIERS TO CREATIVITY

22. A Whack on the Side of the Head, • Roger von Oech • Searching for the one “right” answer • …there may be (and usually are) several “right” answers

23. 2. Focusing on “being logical” …discourages the use of one the mind’s most powerful creations: intuition 3. Blindly following the rules Sometimes creativity depends on our ability to break the existing rules so that we can see new ways of doing things. Ex. Sholes & Company

24. 4. Constantly being practical Imagining impractical answers to ‘what if” questions can be powerful stepping-stones to creative ideas. Ex. Thomas Edison

25. 5. Viewing play as frivolous A playful attitude is fundamental to creative thinking. There is a close relationship between the “haha” of humor and the “aha” of discovery. Play gives us the opportunity to reinvent reality and to reformulate established ways of doing things.

26. Children learn when they play, and so can entrepreneurs. Watch children playing and you will see them invent games, create new ways of looking at old things, and learn what works (and what doesn’t) in their games. For instance, a group of fund-raisers discussed the arrangements for an upcoming annual fund-raising banquet…

27. 6. Becoming overly specialized Creative thinkers tend to be explorers, searching for ideas outside their areas of specialty 7. Avoiding ambiguity Ambiguity can be a powerful creative stimulus, it encourages us to “think something different” Ex. Tom and Sally’s Handmade Chocolates

28. 8. Fearing looking foolish Creative thinking is no place for conformity. Entrepreneurs look at old ways of doing things and ask, “Is there a better way?” By destroying the old, they create the new.

29. 9. Fearing mistakes Creative people realize that trying something new often leads to failure; however, they do not see failure as an end. It represents a learning experience on the way to success. Ex. Charles F. Kettering

30. 10. Believing that “I’m not creative …merely an excuse for inaction Everyone has within himself or herself the potential to be creative; not everyone will tap that potential, however.

31. ENHANCING CREATIVITY Enhancing Organizational Creativity Enhancing Individual Creativity

32. Enhancing Organizational Creativity • Right organizational environment can encourage people to develop & cultivate them • Ensuring that workers have the FREEDOM and the INCENTIVE to be creative is one of the best ways to achieve innovation

33. EXPECTING CREATIVITY • One of the best ways to communicate the expectation of creativity is to give employees permission to be creative • Ex. Brainstorming board

34. TOLERANCE FAILURE • Creativity requires chances and managers must remove employees’ fear of failure

35. ENCOURAING CURIOSITY • Entrepreneurs and their employees constantly should ask “what if…” questions and to take a “maybe we could…” attitude • Doing so breaks out the assumptions that limit creativity

36. VIEWING PROBLEM AS CHALLENGES • Every problem offers the opportunity for INNOVATION • Instead of the Entrepreneur fix all the problems, let the employees take part in finding the solutions (EMPOWERMENT)

37. PROVIDING THECREATIVITY TRAINING • Everyone has the capacity to be creative, but developing that creativity requires training • Training: books seminars workshops professional meetings ..helps everyone learn to tap their creativity

38. PROVIDING SUPPORT • Entrepreneurs must give employees the tools and the resources they need to be creative • Entrepreneurs should remember that creativity often requires nonwork phases, and allowing employees time to “daydream” • Ex. 15% of time on pet projects

39. REWARDING CREATIVITY • Encourage creativity by rewarding it when it occurs • Financial rewards • Non-monetary – more powerful • Ex. Idea lottery

40. MODELING CREATIVE BEHAVIOR • Creativity is “caught” as much as it is “taught” • Entrepreneurs set examples of creative behavior, taking chances, and challenging the status quo (will soon find their employees doing the same)

41. ENHANCINGINDIVIDUAL CREATIVIY

42. ALLOW YOURSELFTO BE CREATIVE • One of the biggest obstacles creativity occurs when a person believes that he or she is not creative • Give yourself the permission to be creative is the first step toward establishing a pattern of creative thinking

43. GIVE YOUR MINDFRESH INPUT EVERYDAY • Stimulate your mind • Do something different each day: “listen” to a radio station take a walk through a park or shopping center Pick up a magazine you have never read

44. KEEP A JOURNAL • Create ideas are too valuable to waste so always keep a journal to record them as soon as you get them

45. READ BOOKS OR TAKE A CLASS ON CREATIVITY • Creative thinking is a technique that anyone can learn • Understanding and applying the principles of creativity can improve the ability to develop new ideas

46. TAKE SOME TIME OFF • Relaxation is a vital to the creative process • It is often this time, while the subconcious works a problem, that the mind generates many creative solutions

47. THECREATIVE PROCESS

48. The Creative Process Joe Designer Inc. Step i. Preparation. It involves creative thinking and might include formal education, on-the-job training, work experience and taking advantage of other learning opportunities.

49. How to prepare the mind for creative thinking? • Have the attitude of a student. Educating is a never ending process. • Read a lot. • Clip articles and create a file • Discuss your ideas with other people • Join associations and attend meetings • Study other countries and their culture and then travel there. • Develop listening skills

50. Step ii. Investigation. Develop an understanding of the problem or decision. Step iii. Transformation. Viewing the similarities and differences in the information collected. Requires two types of thinking: convergent and divergent. Convergent thinking is the ability to see the similarities and connections among various data and events. Divergent thinking is the ability to see the differences among various data and events.