Tuesday, August 21, 2012

Entrepreneurs and Innovation

"Anyone who has tried a hand at starting a high-tech business—seeking to turn a clever research idea into something customers will pay good money for—quickly learns that everything taught in business school is next to useless. The mistake is to think of start-ups as just smaller versions of established businesses. They are nothing of the sort."

This quote is apropos to the extreme. And breakthrough innovation that has the capacity to enable Schumpeter's vision of Creative Destruction still remains the domain of the entrepreneur.

The above excerpt is from an article in The Economist discussing Osterwalder's "Business Model Innovation", which has been a contributor to my success as an entrepreneur through the recent down turn.  See the article "Innovation: Difference Engine,Pilgrim's Progress here.  See Osterwalder's website here.

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