Saturday, February 13, 2016

Where do Entrepreneurs get their ideas from?

There is a fascinating article in the Harvard Business Review titled "How Entrepreneurs Craft" by Amar Bhide, one piece of data that I found interesting was about how entrepreneurs get their ideas (see chart below).  71% modified an idea that they got from their previous employment.  This is exactly the path I am looking at now.  I have been employed for over 30 years, and now contemplating going my own way - and in so doing, I would choose to leverage a skill that I have developed over the past 16 years.  I have had the "opportunity" to work for companies that have been downsizing, and in that process I have built that skill to a high level.  Now, in the current oil and gas environment, I get to use those skills again.  It is highly likely that my role may not survive the next round of cuts....and that is when i will get to leverage the following:



This is all very logical.  But what I find most fascinating is how exciting this is.  I had never imagined that I would actually look forward to doing something like this.  This course and it's content are so timely for me as I explore these options.

Looking at the Acton Foundation article "So you Want to be an Entrepreneur", it focuses on the 3 areas that are critical to starting a new business:

1.  Industry knowledge
2. Operations skills
3. The ability to raise money

I can do all of this....although I must confess to being nervous about raising money!  I need to study more about that!

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