Some people visualize things the way they are and ask why. While there are some others, who dream things that never existed and ask why not. Men who dream big, different, and something unique are the entrepreneurs. For such people, Entrepreneurship is an art. It is a conscious use of skills and creative imaginations in creating something unique and novel.
Entrepreneurship is a competency for establishing, developing, and suspecting risk for an enterprise. Entrepreneurs don’t build their castles of success exactly based on scientific facts and figures – rather possess a very artistic vision and approach. However, science cannot be completely ignored. It may not be wrong to say that people who find the right combination of variables become successful entrepreneurs. They can lead the venture through risks, challenges, and opportunities. The major difference is that in science, we seek truth, and in entrepreneurship, we seek opportunities to make money.
So, it can be said that Entrepreneurship is both an art and a science. Art is an occupation that needs both knowledge and skilled traits, and science is a process for systematized knowledge. Both art and science are essential to creating sustainable and prosperous business entities. Business is as much art as science.
Entrepreneurship as an art
Entrepreneurship is an art as it involves techniques like apprenticeship and experience. Entrepreneurs are different from business people as they come up with a creative and novel idea that might not be very helpful to other people. They are quite imaginative and possess the art of creating something that others are unable to.
Intrinsic Approach
This idea of coming up with something novel that few others visualize is called entrepreneurship. The actuality distortion field prerequisite to induct a team to create it – is the fundamental approach that entrepreneurs possess. It is a different skillset than science, building, and designing, or management.
Successful Entrepreneur and Art Significance
Every successful entrepreneur, from Richard Branson to Steve Jobs, came up with ideas and concepts that seemed unrealistic to the rest of us. But today, their crazy decisions have created a significant impact and changed the world forever. Just like artists try to present their fancy on a cardboard or a portrait, the entrepreneurs go the extra mile and crazily convert their dreams into a reality. They encounter resistance and marshal support. Entrepreneurs also believe that they are wired to ponder differently, and this ability for them is a survival trait – not possessed by many. They follow their gut instincts, and their brains act like full-time pattern recognizers. However, it’s not entirely true that only gut instincts are responsible for radical decision making. A lot of diligent thinking and information processing are involved in the subconscious mind before the patterns align.
Entrepreneurial employees prefer to create something from scratch rather than associate with a present invention, organization, or company. They like to take risks and operate in a completely chaotic system with multiple uncertainties and surprises. Such people are quite rare, extremely unique, novel, and crazy. Yes- they are artists, and their entrepreneurial vision is an art.
Entrepreneurship as Science
It will be unfair to say that successful entrepreneurs don’t follow the science. Kay-Yut Chen, principal scientist at HP i.e., Hewlett-Packard Laboratories. Believes in a methodical approach. For him, it’s a great thing to trust gut instincts, but entrepreneurs need to be rational as well, or else their instincts will drive them away from the correct path. He proposes a scientific approach and believes that successful entrepreneurial pursuits require adequate resources, logical strategy, and positive energy.
Science Coexist with Entrepreneurship
Mature wisdom is to allow profound science that can co-exist with entrepreneurship. A modern example would be Elon Musk, who explores science in advantageous ways and is a learned entrepreneur possessing a powerful imagination. His imagination leads him to explore science in beneficial ways. He knows how to tweak and analyze the system to get good and faster results.
Benefits of Science
Entrepreneurs who emphasize science and analytics possess smarter decision ability in business operations. A more scientific vision can even help answer biggest “gut” questions, like when is the time to back off when things aren’t moving in the right direction. Science offers a more objective lens, which ensures that entrepreneurs don’t waste money.
Analytics
Entrepreneurship through analytics is not pricey. With little calculations, logic, science in every decision – risks are reduced, and a lot of resources are saved. Applying more analytics to entrepreneurship isn’t expensive. Entrepreneurs could benefit from being careful, calculative, and a bit cautious. After all, gut innate may be a survival characteristic, but so is the wisdom and prudence. The latter does not have a ninety percent failure rate.
Endnotes
It’s prudent to wrap up by believing that entrepreneurship will always be – part art and part science. What changes based on the entrepreneur or entrepreneurial team, the specific venture, the lifecycle etc., is the mandatory balance between art and science.
