Entrepreneurship And Innovation Quotes

This defines entrepreneur and entrepreneurship - the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.

Innovation is the specific instrument of entrepreneurship...the act that endows resources with a new capacity to create wealth.

We are all one. Only egos, beliefs, and fears separate us.

Entrepreneurship is "risky" mainly because so few of the so-called entrepreneurs know what they are doing.

It's called entrepreneurSHIP, not entrepreneurSIT. Don't wait. Just ship.

The companies that refused to make hard choices, or refused to admit that anything much was happening, fared badly. If they survive, it is only because their respective governments will not let them go under.

Pivoting is not the end of the disruption process, but the beginning of the next leg of your journey.

No obstacle is so big that one person with determination can't make a difference.

Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society - and especially in the economy - as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is "creative destruction.

If you are going to do something truly innovative, you have to be someone who does not value social approval. You can’t need social approval to go forward.

Be creative while inventing ideas, but be disciplined while implementing them.

Constraint inspires creativity

Just because you have baggage doesn't mean you have to lug it around.

Rebels revel in rewriting reality's restrictions.

T-shaped people " those with a depth of knowledge in at least one discipline and a breadth of knowledge about innovation and entrepreneurship that allows them to work effectively with professionals on other disciplines to bring their ideas to life.

Of the top 10 sources of innovation, employees are the only resource that you can control and access that your competitors cannot. Employees are the one asset you have that can actually be a sustainable competitive advantage.

Entrepreneurs, by definition, shift resources from areas of low productivity and yield to areas of higher productivity and yield. Of course, there is a risk they may not succeed. But if they are even moderately successful, the returns should be more than adequate to offset whatever risk there might be.

The real challenge is for each of us to determine where we feel we can make the most impact.

Never fear starting. Fear never starting.

In every company which I have done strategic planning, the number-one value people choose is always integrity. The second values may be quality of products and services, caring about people, excellent customer service, profitability , innovation, entrepreneurship, and others. But integrity always comes first.

One of the newest figures to emerge on the world stage in recent years is the social entrepreneur. This is usually someone who burns with desire to make a positive social impact on the world, but believes that the best way of doing it is, as the saying goes, not by giving poor people a fish and feeding them for a day, but by teaching them to fish, in hopes of feeding them for a lifetime. I have come to know several social entrepreneurs in recent years, and most combine a business school brain with a social worker's heart. The triple convergence and the flattening of the world have been a godsend for them. Those who get it and are adapting to it have begun launching some very innovative projects.

Rhetorical question: Did you get to where you are by accepting the status quo? I didn't.

Lifelong learning is no longer a luxury but a necessity for employment.

Disruptors don't have to discover something new; they just have to discover a practical use for new discoveries.

The difference between successful and unsuccessful people is that successful ones know that the most unprofitable thing ever manufactured is an excuse.

Entrepreneurs, by definition, shift resources from areas of low productivity and yield to areas of higher productivity and yield. Of

And it is change that always provides the opportunity for the new and different. Systematic innovation therefore consists in the purposeful and organized search for changes, and in the systematic analysis of the opportunities such changes might offer for economic or social innovation.

Entrepreneurs see change as the norm and as healthy. Usually, they do not bring about the change themselves. But – and this defines entrepreneur and entrepreneurship – the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.

At the heart of all sales and marketing is the ability to create demand even in the absence of logic.

Disruptive innovation is entrepreneurs changing their industry with unique creativity.

You have a choice: pursue your dreams, or be hired by someone else to help them fulfill their dreams.

Every threat to the status quo is an opportunity in disguise.

All businesses -- no matter if they make dog food or software -- don't sell products, they sell solutions.

Don't just think out of the box, stand on the box to see new possibilities and opportunities in becoming distinguished.

Creativity is the new currency, so, are you credited with new thoughts or overdrawn in old thinking?

Leveraging existing resources is innovation’s sweetest play.

You can 'hypergrow' all you want. Without roots, you won't stand a storm.

Entrepreneurship, then, is behavior rather than personality trait. And its foundation lies in concept and theory rather than in intuition.

Markets that don’t exist don’t care how smart you are.

At SpaceX, we specialize in converting things from impossible to late.

The way to be irreplaceable is to become a social innovator. Start projects that motivate you to save the world and simultaneously make you money (and create mindshare) for your company. Social innovation makes magic happen.

People who are driven by love will overcome hardships and hurdles in ways that people who are only driven by profit never can.

Entrepreneur, if you're going to start up, make sure you start up with excellence in mind

Insight and drive are all the skills you need. Everything else can be hired.

You'll never know how close you are to victory if you give up.

No one who ever led a nation got there by following the path of another.

Your energy is a valuable resource, distribute it wisely.

Starting each day with a positive mindset is the most important step of your journey to discovering opportunity.

It is not incumbent on the world to conform to your vision of change. It is up to you to explain the future in terms that those living in the past and present can follow.

Success doesn't teach as many lessons as failure

Speed to fail should be every entrepreneur's motto. When you finally find the one idea that can't be killed, go with it.

The most important tool you have on a resume is language.

To be successful, innovation is not just about value creation, but value capture.

We are not creators; only combiners of the created. Invention isn't about new ingredients, but new recipes. And innovations taste the best.

Not having a recognised brand & trying to stand out in the market is like going to the market without any goods.

Some of the things you think are impossible to do can be done even by you.

One of the things I’ve learnt about goals is people will write them or wrong them.

3. Finally, don’t try to innovate for the future. Innovate for the present! An innovation may have long-range impact; it may not reach its full maturity until twenty years later.

The people who work within these industries or public services know that there are basic flaws. But they are almost forced to ignore them and to concentrate instead on patching here, improving there, fighting the fire or caulking that crack. They are thus unable to take the innovation seriously, let alone to try to compete with it. They do not, as a rule, even notice it until it has grown so big as to encroach on their industry or service, by which time it has become irreversible. In the meantime, the innovators have the field to themselves.

Entrepreneurship is when an individual retrieves a red hot idea from the creativity furnace without the constraint of the heat of lean resources, and with each persistent blow of the innovation hammer shapes the still malleable idea against the anvil of passion, vision, insight, strategy, and principles to forge a fitting vessel of a creative concern.

The husband and wife who open another delicatessen store or another Mexican restaurant in the American suburb surely take a risk. But are they entrepreneurs? All they do is what has been done many times before. They gamble on the increasing popularity of eating out in their area, but create neither a new satisfaction nor new consumer demand. Seen under this perspective they are surely not entrepreneurs even though theirs is a new venture. McDonald’s, however, was entrepreneurship. It did not invent anything, to be sure. Its final product was what any decent American restaurant had produced years ago. But by applying management concepts and management techniques (asking, What is “value” to the customer?), standardizing the “product,” designing process and tools, and by basing training on the analysis of the work to be done and then setting the standards it required, McDonald’s both drastically upgraded the yield from resources, and created a new market and a new customer. This is entrepreneurship.

It is all too often forgotten that the whole point of a city is to bring people together, to facilitate interaction, and thereby to create ideas and wealth, to enhance innovative thinking and encourage entrepreneurship and cultural activity by taking advantage of the extraordinary opportunities that the diversity of a great city offers.

What makes demographics such a rewarding opportunity for the entrepreneur is precisely its neglect by decision makers, whether businessmen, public-service staffs, or governmental policymakers. They still cling to the assumption that demographics do not change – or do not change fast. Indeed, they reject even the plainest evidence of demographic changes.

A smart business owner learns from the mistakes of others.

Transforming the complex to the simple is pure genius.

Nature's beauty inspires creative innovation, driving regenerative entrepreneurship.

The earlier changes are discerned, the earlier the opportunities they create can be converted into innovations.

A free and open Internet is a despot's worst enemy.

Be the best at what you do or the only one doing it.

A disruptor finds opportunity and profit from his misfortunes.

There is a difference between failing and failure. Failing is trying something that you learn doesn't work. Failure is throwing in the towel and giving up.

Our world's future is far more malleable and controllable than most people realize.

A negative mind will never find success. I have never heard a positive idea come from a person in a negative state.

A dream with a deadline is a goal.

Accepting that the odds are against you is the same as accepting defeat before you begin.

A career is just a longer trip with a whole lot more baggage.

You will have more regrets for the things you didn't try than the ones you tried and didn't succeed at.

An average idea enthusiastically embraced will go farther than a genius idea no one gets.

Problems are just businesses waiting for the right entrepreneur to unlock the value.

Smart entrepreneurs learn that they must fail often and fast.

Data may disappoint, but it never lies.

The majority of people are not willing to risk what they have built for the opportunity to have something better.

Would you rather work forty hours a week at a job you hate or eighty hours a week doing work you love?

Most startup failures result from entrepreneurs who are better at making excuses than products.

3. An innovation, to be effective, has to be simple and it has to be focused. It should do only one thing, otherwise, it confuses. If it is not simple, it won’t work. Everything new runs into trouble; if complicated, it cannot be repaired or fixed. All effective innovations are breathtakingly simple. Indeed, the greatest praise an innovation can receive is for people to say: ‘This is obvious. Why didn’t I think of it?’ Even the innovation that creates new uses and new markets should be directed toward a specific, clear, designed application. It should be focused on a specific need that it satisfies, on a specific end result that it produces.

The smart strategist allows strategy to be shaped by events. Good reactions can make great strategy. Strategy involves competition of goals, and the risk is the difference between those goals and the ability of the organization to achieve them. So part of the risk is created by the strategy.

Innovations had better be capable of being started small, requiring at first little money, few people, and only a small and limited market. Otherwise, there is not enough time to make the adjustments and changes that are almost always needed for an innovation to succeed. Initially innovations rarely are more than ‘almost right’. The necessary changes can be made only if the scale is small and the requirements for people and money fairly modest.

4. Effective innovations start small. They are not grandiose. They try to do one specific thing. It may be to enable a moving vehicle to draw electric power while it runs along rails – the innovation that made possible the electric streetcar. Or it may be as elementary as putting the same number of matches into a matchbox (it used to be fifty), which made possible the automatic filling of matchboxes and gave the Swedish originators of the idea a world monopoly on matches for almost half a century. Grandiose ideas, plans that aim at ‘revolutionizing an industry’, are unlikely to work.

Entrepreneurial management in the new venture has four requirements: It requires, first, a focus on the market. It requires, second, financial foresight, and especially planning for cash flow and capital needs ahead. It requires, third, building a top management team long before the new venture actually needs one and long before it can actually afford one. And finally, it requires of the founding entrepreneur a decision in respect to his or her own role, area of work, and relationships.

College does not equal job security. Entrepreneurship does not equal job security. For heaven's sake, "job security" does not equal job security. So what do you do? Don't be a one-trick pony. Add real value in everything you do. But most of all, study and apply business models. No matter what discipline you come from. Learn how to add value so that value can flow in the form of money to you. That, my friends, is job security. Learn where money comes from and you'll know where to turn when life throws a curve.

True choice requires that a person have the ability to choose an option and not be prevented from choosing it by any external force, meaning that a system tending too far toward either extreme will limit People’s opportunities. Also, both extremes can produce additional problems in practice. Aside from the fact that a lack of “freedom to” can lead to privation, suffering, and death for those who can’t provide for themselves, it can also lead to a de facto plutocracy. The extremely wealthy can come to wield disproportionate power, enabling them to avoid punishment for illegal practices or to change the law itself in ways that perpetuate their advantages at the cost of others, a charge often levied against the “robber baron” industrialists of the late nineteenth century. A lack of “freedom from,” on the other hand, can encourage people to do less work than they’re capable of since they know their needs will be met, and it may stifle innovation and entrepreneurship because people receive few or no additional material benefits for exerting additional effort. Moreover, a government must have extensive power over its people to implement such a system, and as can be seen in the actions of the majority of communist governments in the past, power corrupts.

Finally, goals and objectives for each area need to be set. Everyone who takes on the primary responsibility for a key activity, whether product development or people, or money, must be asked: ‘What can this enterprise expect of you? What should we hold you accountable for? What are you trying to accomplish and by what time?’ But this is elementary management, of course.

Only 5 percent of entrepreneurship is the big idea, the business model, the whiteboard strategizing, and the splitting up of the spoils. The other 95 percent is the gritty work that is measured by innovation accounting: product prioritization decisions, deciding which customers to target or listen to, and having the courage to subject a grand vision to constant testing and feedback.

In the next chapters I will deal with factors that have helped make this happen, including better leaders, a revival of African entrepreneurship, the return of the great diaspora and a hungry, innovative young population—the largest demographic of young people in the world. But I will start with what I believe has been the most important factor of all. Despite Africa’s size and the great drama of her story—colonialism, war, famine, disease, dictatorship, corruption, hundreds of billions of dollars in wasted aid—it is astonishing to me that the thing that has probably helped us more than anything else is a tiny little device that can fit in your pocket. It’s called a cell phone—and it’s been a game changer.

Above all, we know that an entrepreneurial strategy has more chance of success the more it starts out with the users – their utilities, their values, their realities. An innovation is a change in market or society. It produces a greater yield for the user, greater wealth-producing capacity for society, higher value or greater satisfaction. The test of an innovation is always what it does for the user. Hence, entrepreneurship always needs to be market-focused, indeed, market-driven.

I faced people from all walks of business who fully disregarded design (though they were completely influenced by it). I also met fine artists who drowned in their own work and the dense creative universe in their minds. Then I met designers. And instantly fell in love. Let me tell you why. Designers are familiar with critiques. They not only tolerate them but actively look out for them. They honestly believe in iterations and learn to edit down their work. They embrace simplicity and create beauty based on requirements other than their own. Design education teaches you to run away from assumptions and to have the stomach to scrap your work often. I’m bringing this up because it’s time to bridge the gap between design and business.

Entrepreneurs are everywhere. You don’t have to work in a garage to be in a startup. The concept of entrepreneurship includes anyone who works within my definition of a startup: a human institution designed to create new products and services under conditions of extreme uncertainty. That means entrepreneurs are everywhere and the Lean Startup approach can work in any size company, even a very large enterprise, in any sector or industry. 2. Entrepreneurship is management. A startup is an institution, not just a product, and so it requires a new kind of management specifically geared to its context of extreme uncertainty. In fact, as I will argue later, I believe “entrepreneur” should be considered a job title in all modern companies that depend on innovation for their future growth. 3. Validated learning. Startups exist not just to make stuff, make money, or even serve customers. They exist to learn how to build a sustainable business. This learning can be validated scientifically by running frequent experiments that allow entrepreneurs to test each element of their vision. 4. Build-Measure-Learn. The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere. All successful startup processes should be geared to accelerate that feedback loop. 5. Innovation accounting. To improve entrepreneurial outcomes and hold innovators accountable, we need to focus on the boring stuff: how to measure progress, how to set up milestones, and how to prioritize work. This requires a new kind of accounting designed for startups—and the people who hold them accountable.

Innovators and creators are persons who can to a higher degree than average accept the condition of aloneness—that is, the absence of supportive feedback from their social environment. They are more willing to follow their vision, even when it takes them far from the mainland of the human community. Unexplored spaces do not frighten them—or not, at any rate, as much as they frighten those around them. This is one of the secrets of their power—the great artists, scientists, inventors, industrialists. Is not the hallmark of entrepreneurship (in art or science no less than in business) the ability to see a possibility that no one else sees—and to actualize it? Actualizing one’s vision may of course require the collaboration of many people able to work together toward a common goal, and the innovator may need to be highly skillful at building bridges between one group and another. But this is a separate story and does not affect my basic point. That which we call “genius” has a great deal to do with independence, courage, and daring—a great deal to do with nerve. This is one reason we admire it. In the literal sense, such “nerve” cannot be taught; but we can support the process by which it is learned. If human happiness, well-being, and progress are our goals, it is a trait we must strive to nurture—in our child-rearing practices, in our schools, in our organizations, and first of all in ourselves.

For the existing enterprise, whether business or public-service institution, the controlling word in the term ‘entrepreneurial management’ is ‘entrepreneurial’. For the new venture, it is ‘management’. In the existing business, it is the existing that is the main obstacle to entrepreneurship. In the new venture, it is its absence. The new venture has an idea. It may have a product or a service. It may even have sales, and sometimes quite a substantial volume of them. It surely has costs. And it may have revenues and even profits. What it does not have is a ‘business’, a viable, operating, organized ‘present’ in which people know where they are going, what they are supposed to do, and what the results are or should be. But unless a new venture develops into a new business and makes sure of being ‘managed’, it will not survive no matter how brilliant the entrepreneurial idea, how much money it attracts, how good its products, nor even how great the demand for them.

Letter to the tech giants: When fame and abundance kiss somebody’s feet before that person is wise enough, he or she is very likely to lose track of what’s necessity and what’s luxury. And modern society is filled with examples of such intelligent stupidity – stupidity that is carried out by apparently smart humans. Because being smart is not the same as being wise. The world has enough smartness, but not enough wisdom to bring that smartness into proper productive practice – and I mean productive practice not sophisticated practice – there is a difference. A person smart enough to visualize a Falcon rocket engine can easily pinpoint the locations of various organizations that spread terrorism, yet the person chooses to explore the space further instead of prioritizing the technological advantages to first fix real issues of the human society that inflict harm to the humans every walk of the way. The world is a miserable place not because we have lack of resources, but because those who have an abundance of resources do not have the slightest idea of true human need. The resources needed for colonizing Mars if put to proper practice can fix the world’s global warming issues – it can fix the world’s climate change issues – it can fix the world’s terrorism issues, yet people are more interested in the pompous idea of living in Mars for whatever reason, instead of paying attention to improving human condition on earth. I am not against technological advancement, for I am a scientist, but my soul aches when I see smart people are dumb enough to chase after illusory glory of doing something different and innovative instead of focusing the powers of their soul on cleaning up the misery business on earth. You can, yet you don’t. Why? Smartness without wisdom is stupidity. You are smart – yes indeed – but I am sorry – you are stupid at the same time. How can you dream of having a cheese burger on Mars when your own kind on Earth is suffering! How can you think of taking rich kids into the orbit just so they can admire the beauty of earth from the heavens, when that very earth is infested with the primordial evils of human character! Awaken the human within you my friend, and pay attention. Awaken the human within and let it consume all the miseries from the world that you live in. Say a member of your family falls ill, would you ignore his or her misery completely just because you want to make life more comfortable for others than it already is, or would you first try everything in your capacity in order to heal your loved one! Be wise my friend, for it is not enough to be smart. You are smart – there is no doubt about that – so utilize that smartness for humanity and heal your own kind. Heal your kind with your capacity my friend. It is wailing for healers – not some delusional faith healers, but real tangible healers. Would you not do anything! Would you not give your soul to fix the broken soul of this world! Arise my friend, Awake my friend and work for humanity, not to make it sophisticated, but to make it peaceful first. Remember, humanity first, then everything else. Peace first, sophistication later. Harmony first, luxury later.