An Entrepreneur Should Think As An Innovator, Not Imitator

Be a leader, not a follower.

An entrepreneur should be an innovator or an imitator.

If we are innovators, how can we become one?

There are endless questions floating in the market about whether to walk on the path of an innovator or pick the route of an imitator.

Let’s share our knowledge and figure it out.

There is nothing wrong with being an imitator, as old technologies need to be redefined in a modern fashion and that’s the task of the imitator, who fine-tunes the technology invented by innovators by imitating but don’t forget that you are causing a huge dent in your profit margins.

“Innovation is the act that endows resources with a new capacity to create wealth.” -Peter Drucker

If one desires to make a unique identity and a profitable business in the market, he should adopt the path of innovation and innovation will only survive if you believe in your ideas and beliefs. Think out of the box and step out to dream of something that is totally a new concept to the market.

“The best way to predict the future is to create it.” –Alan Kay

Are you an innovator or an imitator?

Let’s figure out by studying the differences between both.

1. Imitators simply add their knowledge to the existing inventions and improve the whole structure but can’t grab the credit for creating the structure from scratch. Only the names of those will be written in the pages of history that invented new technology and penetrated the market as the “first” of its kind.

2. Are you afraid of failure? Yes, then you are absolutely not an innovator. Innovators don’t run away from failure, as they are aware of the fact that failure is an inevitable part of success. Success is such a pompous word that leaves no space for changes whereas failure opens the doors for new lessons and improvements. What innovators learn from failure is ultimately turned into great contributions made by them.

“If you’re not failing every now and again, it’s a sign you’re not doing anything very innovative.” –Woody Allen

3. Innovators tend to perform in a futuristic world with a wide vision and always stay a step ahead of others. They indulge in a keen study of future needs and try to identify how their invention will fit into it whereas imitators perform on the existing technologies and fashion it in new exciting ways. Their vision involves a world, which is only confined to the past and present.

4. Innovators change whereas imitators improve and what is required to survive in today’s era is a high deal of change, which actually prepares a platform for imitators to work on.

What demands today’s market is a load of seekers and doers to recognize the barrage of ideas and opportunities lying in the market, which hasn’t been recognized yet.

1. Exploration is the engine that drives innovation so let’s all go exploring and burst this world with new innovations every single day.

2. Conduct market research and fish out the areas where you can fit in your expertise.

3. Try to build connections between seemingly unrelated problems and synthesize new ideas. It’s not necessary that every idea will turn into a profitable business but you need to decide which of the ideas are worth pursuing, keeping in mind the needs of the market. Make this world your canvas and paint your imagination on it.

4. Experiment with new things while observing the market’s needs and associating them with new technology. Don’t offer a product which makes no relevance in today’s market but craft a product that consumers have only dreamt of.

There is an innovator who resides in all of us so don’t let that giant sleep but breathe life in it.