Innovation is a term which comes naturally to Entrepreneurs. Needless to mention, today there is a rapid growth in start-ups and small companies. Leading organizations and big corporations though, are at a loss of innovating new products and services on a comparative note. A long time ago, entrepreneurs were taken so lightly and entrepreneurship was considered to be one for losers. Times have changed and changed for the good. A recent study came with a report of innovations coming from small companies of about 84%, the rest (16%) from large companies. These large companies miss out on a particular type of individual, the one who drives change, make things happen, pushes the boundaries and challenges the organization.
No wonder, entrepreneurial passion is catching up tremendously with students ranging from schools to college graduates. A drastic increase of such ambitious students pursuing these entrepreneurial programs has gone up with every year. Thanks to the likes of famous entrepreneurs (Mark Zuckerberg, Facebook Founder), these upcoming entrepreneurs with dreams of making billions at an early age are venturing out in this arena of innovation and change. They are highly independent, passionate about their work and don’t like rules or bureaucracy. They would rather venture out with cool start-ups than trying a hand with traditional corporate organizations. It wouldn’t make any difference to them about perks and packages. Of course they like to make money just as anybody else but most are driven and motivated by the achievement of making something happen than the reward of quick and easy money. Given the fact that there are innumerable resources and role models today, start-ups are the notion of their passion. The news about successful entrepreneurs posing as their role models, investing actively in start-ups is like icing on the cake.
Therefore, the trend is slowly taking a turn with large companies desperately looking for innovative and creative entrepreneurs. These CEOs who seek growth in every sector of their company need to find a way to embed innovation in strategic priorities, need to build a culture of innovation, nurture creative thinking and innovate around with what they do and how they do it. Gone are the days when coming up with own ideas was not encouraged and initiatives were misinterpreted and confused with disloyalty. These days, companies are stepping up to change their work culture to give a younger feel-good look to it and thereby benefit progress and profit. They have come to understand the importance of entrepreneurial thinking and have started on a path to hire entrepreneurs into their Business and Companies.
To bring in the entrepreneurial thinking into their work, companies are hiring them on a short term basis, probably as consultants to embed their ideas to help in developing new innovations and give a hand at solving critical issues and problems. It also gives these creative innovators to provide an impact on the company paving way for future mergers and opportunities to work with them. The good news is that they do not have to work on a long term commitment. Assuming the transition goes smoothly, companies have little to worry about for a long time.