Articles

The Role of Creativity in Entrepreneurship

May 15, 2019 at 08:46

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Creativity isn’t just about coming up with ideas. It’s about being able to adapt to new circumstances, navigate uncertainty, and find solutions as problems arise.

All startups have to evolve over time as the landscape changes. Maybe your brand isn’t communicating the right emotions and you need to adjust it. Perhaps your UI isn’t performing well enough and it needs a makeover. Maybe you even need to come up with new ways to secure funding.

But what exactly makes creativity so crucial and important in an entrepreneur’s work life?

Creativity leads to success by:

1. Creating new ideas for competitive advantage. The whole process of entrepreneurship is rooted in the creation and exploration of new ideas. When an entrepreneur is able to generate a new idea that is feasible as well as efficient, it gives him an edge over the competition. The ability to explore different niches is just like a learned skill or a resource that is possessed by an individual.

2. Thinking of novel ways to develop your product and improve the business. Creativity helps develop new ways of improving an existing product or service and optimizing a business. There is always a room for improvement in the deliverables of an enterprise; it is the creative entrepreneur who can assess how to do it.

3. Thinking the unthinkable. Creativity requires imagination to produce the most obscure ideas. Imagination is needed to cross the boundary of “usual” and “normal” or to think outside the box. This allows entrepreneurs to think beyond the traditional solutions, come up with something new, interesting, versatile, and yet have success potential.

4. 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 create new niches. Most people are afraid of bringing different disciplines together, but most interesting ideas come from colliding different fields.

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.