Hug an Entrepreneur

Author: Kingsford Consulting

Author: Kingsford Consulting

A lot has been said about creating an Innovative Culture. Research labs, government departments and agencies are all trying to figure out just how to make us innovate. The thought being that innovation equals wealth creation. However, to create this wealth someone has to do something with the innovation, someone who is prepared to take the risk that things may not work out quite as planned. That someone is typically referred to as an entrepreneur (or the clever B-school term Intrapreneur for those inside a company). If you put three or four intelligent people together for an hour or so, they are very likely to come up with some innovative, and potentially lucrative, ideas. However, the chances of anyone doing anything with the ideas are pretty slim. Even in corporations that pride themselves on innovation, the innovations that are not congruent with the corporate strategy get set aside. Innovation without entrepreneurship is usually just an intellectual exercise. Perhaps what we need to do in Canada is to create an Entrepreneurial Culture. Rather than just focusing on innovation, lets also support the folks who make it happen the Entrepreneurs. Folks like Adrian, who is revolutionizing atmospheric remote sensing, or Mark, who is dramatically changing the coated fabrics industry with green solutions. Greg and Nic who have become leaders in streamlining yard management and Linda who is lighting up the globe. Lets teach our youth how to be entrepreneurs. Lets give entrepreneurs the Order of Canada. Lets have an entrepreneurial Walk of Fame. Lets fund entrepreneurs to the same extent as the innovators. These are the people who turn innovation into wealth. A string of patents does not create wealth its building the businesses that exploit them that does it. Some organizations get it. For example the National Research Councils IRAP program has a great little offer called the Management Advisory Services that pays for management consulting services to help entrepreneurs fix holes in their business plans aimed at bringing innovation to market. Perhaps other agencies should develop similar programs to help entrepreneurs turn our innovations into wealth. So hug an entrepreneur. They are our real engines of growth. Published in November 2008. http://kingsfordconsulting.ca/?p=179About the Author:

Kingsford Consulting Ltd. is a Strategy and Business Development firm that provides business planning, market research and strategy development services.

www.kingsfordconsulting.ca

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