Best Practices in Innovation and Entrepreneurship
I’ve been trying for over 25 years to figure out what it takes to be a successful innovator and entrepreneur in the technology field. This section of the website takes a look at a few perspectives on becoming successful through the adoption of best practices.
Assessment of Market Potential for Innovation
One of the things that I have gotten wrong on several occasions is thinking that there is a market for something I’ve developed or gotten involved with. This has left me with a product in search of a market. I’ve spent a lot of time analyzing these situations and have started looking more closely at buyer behaviour and how buyers react to change. This has led to an examination of the forces that act on buyers; the triggers to innovation, the barriers and the forces of competitive differentiation.
Leadership and Management
There’s a great debate out there about what leadership is and what management is. Some people define leadership as setting the vision, communicating the vision, and motivating people around the vision. Management is seen as planning, organizing, staffing, directing, and controlling. Of course with these definitions,, everyone wants to be seen as a leader and not as a manager. I believe that you have to start with strong management skills in order to then be able to develop leadership skills. These are fundamental for successful strategy execution.
People spend a lot of time worrying about the financial aspects of company success and for many years, I did too. Now I’m convinced that marketing is much more fundamental to success than finance. However, over the years I have looked at best practices in the finance area including benchmarks, revenue forecasting, bootstrapping and venture capital and have presented them here.
And finally, in terms of getting stuff done, there is personal productivity. Topics here range from focusing to failing successfully, goal setting, time management and emotional intelligence. Yes, you read it right, emotional intelligence; not the favourite subject of STEM professionals but from what I have seen, the thing that separates the very successful from the successful.