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Creativity Definition And Why It Matters In Business

creativity-definition

Creativity is about generating physical objects or ideas that can turn into things in the real world. In Business, creativity is an essential part of generating business ideas that can turn into successful businesses. Indeed, finding the creative flow to generate enough ideas to test is a critical ingredient to be a successful entrepreneur.

Start testing business ideas

what-is-entrepreneurship
Entrepreneurship is a continuous quest for real-world problem-solving. The success of a business is measured by how well you helped people solve those problems. While entrepreneurs can rely on methodologies, systems, and processes, they also need to know when to revert to instinct and leverage on their experience.

You can act as an entrepreneur also within an organization

intrapreneur
The intrapreneur is an employee which is usually assigned to innovative projects that can impact the company’s future success. As such, the intrapreneur is an employee that acts as an entrepreneur within the organisation. While the intrapreneur has access to the resources of the organisation she does not bear the risks connected to it.

Start solo, keep it small, and simple to create options to scale

solopreneur
A solopreneur is usually (not always) a digital entrepreneur who leverages automation, work flexibility, and creativity to develop ultra-lean business models. Those can scale over the one-million-dollar revenue mark with a minimum business overhead, no venture capital funds, and mostly bootstrapped. Those solopreneurs start by mastering profitable microniches.

Craft a compelling value proposition

value-proposition
A value proposition is about how you create value for customers. While many entrepreneurial theories draw from customers’ problems and pain points, value can also be created via demand generation, which is about enabling people to identify with your brand, thus generating demand for your products and services.

Build your minimum viable audience

minimum-viable-audience
The minimum viable audience (MVA) represents the smallest possible audience that can sustain your business as you get it started from a microniche (the smallest subset of a market). The main aspect of the MVA is to zoom into existing markets to find those people which needs are unmet by existing players.

Start testing ideas to prioritize on what works with a growth mindset

growth-marketing
Growth marketing is a process of rapid experimentation, which in a way has to be “scientific” by keeping in mind that it is used by startups to grow, quickly. Thus, the “scientific” here is not meant in the academic sense. Growth marketing is expected to unlock growth, quickly and with an often limited budget.

Read More: Idea Generation, What Is Entrepreneurship, Value Proposition Design, Solopreneurship, Minimum Viable Audience, Growth Hacking, Growth Marketing.

Read Also:

  • Successful Types of Business Models You Need to Know
  • The Complete Guide To Business Development
  • Business Strategy: Definition, Examples, And Case Studies
  • What Is a Value Proposition? Value Proposition Canvas Explained
  • Marketing Strategy: Definition, Types, And Examples
  • Market Segmentation

The post Creativity Definition And Why It Matters In Business appeared first on FourWeekMBA.



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Creativity Definition And Why It Matters In Business

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