Like most of you I am also curious about how entrepreneurs come up with these opportunities which most of us don’t even notice. What were they thinking and how were they thinking when they came up with these ideas. I am hoping that it is their “magical” way of thinking that makes them so successful.
So I went out in the world in search of this magic… [Imagine here in Hollywood movie style movie voice saying, “…and this is the story of his journey…the man, questions, lattes and entrepreneurs”]
Thou shalt Fly
Two years ago at the end of a job interview I was told by my interviewer that, “You are of the entrepreneurial type and when at the right time I should take The Leap…” I know most of you are thinking, “dude that was a nice way of saying you are not hired.” I don’t blame you I thought the same. And then two years and couple of other similar epiphanies and similar invitations to leaps of faith…I had to stop and listen to what the world is shouting at me. Go…Entrepreneur go. And I stood still.
Why Entrepreneurship is difficult?
It’s easy said than done. Leaving “job”, or employment, or working for someone else is like leaving the path of comfort, the path of least investments, the path of less [apparent] risk, the path where we start getting the returns (cash flow) without any major capital investments except for the equity of our self. And mind you everyone brings the equity of their self to be table on all endeavors, be it job, entrepreneurship, philanthropy…it’s a given: so nothing unusual here.
But these risk-averseness aside the entrepreneurs think differently. Its two different ways to look at the same problem. And the key is, according to Satish co-founder of Jet Coopers, opportunity vs. resources thinking.
Opportunity vs. Resources Thinking
According to Satish, Co-Founder of the Jet Cooper, the problem is that most of us look at things from resources point of view and not from the opportunity’s angle.
Opportunity thinking; what it is?
…the right way, or entrepreneurial way of looking at any idea is from the opportunity. Lets take the example of building a customer relationship management software for a pharmaceutical company. Assuming we don’t know anything about this area of exploration. Then from an opportunity’s perspective our next step could be to think about whom should we talk to about this? Who are developing CRM solutions for pharmaceutical industry? Who are using these products? What do they find relevant and irrelevant in these offerings? Next could be to think about whom we need to build this product? Where will those people and how can they be interested in our venture?
How would it be different if we think from resources?
Resource based thinking is somewhat crippling thinking. Following this line of thought we will be thinking of any what kind of resources we have access to and what we can do we these? If my resource knows how to program in Blackberry then I will retrofit him into an iPhone development project. We may not even see that its possible to, for example, partner with a small company somewhere and get things rolling way cheaper, faster and of better quality then retrofitting ourselves or our resources.
So a good way to start towards the entrepreneurial path would be start thinking in terms of opportunity first. But hold on…
I shall warn you “opportunity thinking” is not natural way of thinking for most of us chronic employees who befriend employees and have been raised by employee parents, and employee grandparents and so on. The old saying was so true. “A man is known by the company he keeps.” I will go as far as that “A man is made by the company he keeps.” So Employee mindset is deep rooted in our being and to become an instant entrepreneur is suitable for Hollywood art movies. In real life we need to go through a learning and unlearning process, which I call “Employee Mindset Detox.”
Tags: Conversations, Ideas, Play, Thinking, Strategic Foresight, Entrepreneur, Opportunity, Employee, Mindset, How Entrepreneurs Think
