| Written By Travis Sheridan |
What do you do with a light bulb moment? The light bulb moments of innovators have varying degrees of life. For some the event is reminiscent of a flash bulb, while others allow the bulb to burn long and bright. Below is a progressive way to look at Edison’s invention, the light bulb.
Innovation during Edison’s time was really no different to innovation today. There was trial and error, the need to combat critics and the challenge of funding the venture. Today, innovation faces similar obstacles. To move through this process with the greatest potential for success, the individual must adapt his/her focus and shift roles from time to time.
From the point of wearing the innovation hat, a person needs to determine if the move toward the role of an entrepreneur is realistic. The entrepreneur takes the innovation and builds a business model around it. From technology to service delivery, innovation without a business model lacks sustainability. Innovators are product focused, while entrepreneurs are process focused.
The entrepreneur puts all the necessary parts together. To think differently is to be an innovator in entrepreneur’s clothing. A sustainable light bulb business requires an accounting structure, an understanding of legal implications, the ability to market and sell, and a focus on operational soundness. This is not an exhaustive list, but it is a list to expose the quasi-entrepreneur. The entrepreneur role is not the final step in the transition. Here’s a news headline: "Entrepreneurs do not always make the best executives."
The current biz-talk today speaks of everyone in the organization having an entrepreneurial spirit. It does not speak of everyone actually being an entrepreneur. An entrepreneur develops the processes and systems for sustainability, but an executive actually manages and leads the enterprise. The executive runs the company. The executive establishes and maintains a culture of innovation and entrepreneurship.
What do you want to do with your light bulb moment? You better be careful -- General Electric (or GE as it is normally called) started as Edison General Electric Company with one light bulb moment.
Take the Business Readiness Assessment today and begin to walk the path from Innovator to Entrepreneur to Executive.
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