Business Ideas

Why Creativity in Business Matters

“I never made one of my discoveries through the process of rational thinking”

– Albert Einstein

 

Building a modern business requires grit and a great deal of creativity. Marketing a new product, or creating items or services consumers want, beckons the entrepreneur to expand and abandon traditional business models. Giant companies like Amazon, Apple, Facebook, Tesla etc, prove a creative and ever evolving business model conquers competition, drives sales, and increases consumer loyalty.

So what’s the big deal about Creativity in Business and Why does It Matter?

The simple answer – Your Success in business counts on creative thinking

Fact is, we are living in times where companies are facing major disruptions in their markets and managers are forced to respond strategically in order to remain competitive.  According to a study conducted by IBM CEOs  “believe that — more than rigor, management discipline, integrity or even vision — successfully navigating an increasing complex world will require creativity.”

Another study conducted by Forrester Consulting and Adobe also found direct correlation between a entrepreneur’s ability to create new ways to engage the market, and the success of their companies. Over half of the companies surveyed in the study showed revenue growth due to enhanced creative practices—such as hiring interesting and unorthodox employees who foster innovation, increase brand recognition, and inspire methods of production and delivery never tried before.

“Creativity is thinking up new things. Innovation is doing new things.”

— Theodore Levitt

Good Leadership Fosters Creativity –

When it comes to problem solving, creativity and leadership can have a huge effect on the  performance of a company in various. Modern company leaders who allow freedom and creativity within their workforce see incredible dividends down the road. The most successful example, Amazon’s Jeff Bezos, created Amazon in 1994 with the mantra and philosophy: “Its easier to invent the future than to predict it.” That one line says it all. Creativity in the modern era makes or breaks companies. Small business owner’s ability to diversify ideas, products, and marketing techniques determines their success rate and bottom line. But, as Amazon proves, even well established companies use evolutionary creative business models to continue to maintain and increase their market placement.

Where do we go from here?

The simple lesson:  While ancient marketing, production, and branding methods still generate revenue,  business creativity flourishes success and helps avoid stagnation which leads to the dreaded going out of business.

Further reading on importance of creativity in business

How Senior Executives Find Time to Be Creative- (Harvard Business Review)

-Your Team Is Brainstorming All Wrong- (Harvard Business Review)

-Leading others to think innovatively together: Creative leadership (The Leadership Quarterly-ScienceDirect)

 

“Creativity takes courage. ”  ― Henri Matisse

How Entreprenuers Can Cope With Uncertainty

“Uncertainty is a quality to be cherished, therefore – if not for it, who would dare to undertake anything? Villiers de L’Isle-Adam”

 Entrepreneurs are often faced with a lot of risks and uncertainties. Richard Cantillon was one of the earliest in the history of Economics who not only identified the role of an entrepreneur in the economy, but also understood the uncertainty they are forced to cope with. In fact he stated in 1755 that entrepreneurs work on uncertain wages, whether they establish their businesses with or without capital.

So how can entrepreneurs cope with uncertainty?

Read on – How Entreprenuers Can Cope With Uncertainity (Source iAfrikan.com)

Suceeding At Your Job, Facebook vs LinkedIn, Midlife Career Change

 

When just being good at your job isn’t good enough!- “To keep succeeding in your career, you must add value to your organization through continuous learning” (more at Strategy+Business). Also, here is how a ‘Craftsman-Like Approach’ helps to achieve greater joy at work (Forbes)

Okey! This one is a little tough- Is LinkedIn the new Facebook? Or Is Facebook the new LinkedIn? Either way, the game is changing. LinkedIn has completely transformed with some added functionality some of which include “Facebook-style” timeline. Facebook on the other hand, is now helping lower-skilled worker, freelancers, and those individuals who aren’t actively looking for a job.(see The Next Web)

Well, the big question is how would jobs seekers, employers and companies benefit from all of this?  Here’s how Facebook is helping small businesses having trouble hiring (Techcrunch)  Also, here is how to make  LinkedIn work for you (Converge) And finally, when you want LinkedIn  to retain its professional integrity, and avoid getting into a noisy conversation (Business2Community)

Midlife career changes happens more often than we can imagine. But with good planning, making a big career move in your late 30s or older is possible and can be quite rewarding. Here is what you need to do to  successfully make a midlife career change- (Entrepreneur) Also,  NPR shares a few posts highlighting reasons why people consider midlife career shifts (npr.org). At some point, radical change is required. Depending on your goals, if you choose a a completely new career direction you might require a re-training to improve or acquire new skills.(More at Stuff)

Yes, you can still  change jobs when you are near retirement. But there is need to understand the pros and cons, of voluntarily changing jobs on a retirement timing. Here is how -(Market Watch)  Also, understand how a midlif e career change can have a tremendous effect on retirement planning (Globe and Mail)