The Difference between Inventors and Entrepreneurs

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One thing that is often applauded in the world of start-ups is novelty, otherwise known as invention. Entrepreneurs are usually advised to always think out of the box and come up with uniquely fresh ideas that address current customer needs. After which they would convert those ideas into marketable services and in the long run become successful business owners.

Unfortunately, this widely acclaimed perception is absolutely wrong. There is definitely a great gap between creativity and entrepreneurship says a Healthcare Specialist and Inventor from India, Dr. Aniruddha Malpani who is currently the Director and Values Custodian at Solidarity Investment Advisors.

In this article, he opines that creativity refers to random sparks of bright ideas that come to mind from time to time and not all good ideas can be converted to marketable services or products. Just the way we also encounter several problems in life and are still not able to provide lasting solutions to all. He also says, the reason for the inability to convert seemingly bright ideas into commercial products or services is because of the huge disparity between an Inventor and an Entrepreneur. Most inventors just love the virtual space that their ideas occupy in their minds and spend a lot of time fine-tuning them to ‘perfection’ while not actively bothered about pushing it into the market. Consequently, this inventor is somewhat satisfied with the thought of this huge idea that he or she came up with, and may decide to keep it in the abstract.

Some inventors hold their ideas so sacred that they loathe the thought of putting out in the market for fear of failure or extinction and would even turn down offers to sell off their ideas to willing investors. They prefer housing their ideas mentally and further tweaking them to perfection. Entrepreneurs on the other hand are totally different. They are more adventurous and understand that ideas can get better overtime so they focus first on pushing out to the market and thereafter rely on customer feedback to make appropriate adjustments. They do not wait till they have a ‘perfect’ product but move ahead to profit from the available whilst seeking better avenues for improvement.

Inventors and Entrepreneurs definitely think in different ways. It is rare to find a person who combines both abilities. Most people are either of the two however BOTH are needed to create a successful business. This is where partnership comes in, that is, finding a co-founder who would complement your skills. Hence the need for mutual trust and respect.

Sometimes, a critical decision needs to be taken between spending time and money on IMPROVING a product or spending time and money on MARKETING that product. Actually, both activities are equally expedient and symbiotic to every successful startup business.

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