The Importance of Creative Entrepreneuship [2]

What is the most important quality of an entrepreneur? Many would argue it is passion — an overwhelming love of what one is doing, and the drive and determination to see one’s dreams realized. Others might say  leadership — the ability to bring a team of people together and guide them toward a common goal. But some believe that creativity — a boundless imagination that is constantly innovating and seeing the world through a different lens — is the ultimate key to business success.

Hence, what is creative entrepreneurship?

Creative entrepreneurship is the practice of setting up a business – or setting yourself up as self-employed – in one of the creative industries. The focus of the creative entrepreneur differs from that of the typical business entrepreneur or, indeed, the social entrepreneur in that s/he is concerned first and foremost with the creation and exploitation of creative or intellectual capital. Essentially, creative entrepreneurs are investors in talent – their own or other people’s.

The most renowned creative entrepreneurs have combined creative flair with entrepreneurial ability to build multimillion-dollar business empires. Examples include Rupert Murdoch, Madonna and Richard Branson.

Here are a few more reasons why creative entrepreneurship is very imperative no matter your business.

4. Creativity can be learned.

Everyone has creative potential and the creative thought process can be improved and strengthened. Learning new hobbies and skills is a great way to lay down new neural networks, but learning a new art form is one of the best methods to train the mind in developing creative problem-solving skills. The arts require the use of divergent thinking, which is the half of creative thought that is typically missing in corporate America.

5. Developing new niches through creativity and entrepreneurship.

 In entrepreneurship, it is important that new aspects of traditional business are explored. This can be in the form of changing the method of manufacturing the product or delivering the service or how are they supplied to the user. All these areas can create a niche that has great potential in business.

6. Finding similar patterns in different areas. 

Sometimes, due to following a routine or a habit, the thinking process also goes along the line of those established processes. Creativity enables people to connect dissimilar and unrelated subjects and make successful entrepreneurial ideas. Merging different fields creates interesting intersections that creates new niches. Most people are afraid of bringing different disciplines together, but most interesting ideas come from colliding different fields.