Entrepreneurship – Why innovation is important and how to begin on innovation

Entrepreneurship and business are significantly different from each other. Business is more about making money and living doing something that already has been done but entrepreneurship is all about creating something new which is innovative and kind of breakthrough.

No doubt businesses are good too. Nothing bad about it and if you want to start a business, you should. It is at least better than doing job, unless you are doing something that you really love, enjoy working at workplace and being paid at satisfactory level plus want to avoid the hassles of being boss and working hard to get something new to be working.

Some people do business like opening a store and sitting there all day long. Well, that is not the business either. That is like another job where you have to sit and work for specific hours. When you get people hired who take care of your job, that is business and when this business is new idea or invention, no matter you do it yourself or with a team, that’s entrepreneurship.

Sitting or running a place for someone or for yourself – it is a job! Once you are in a supervision role in your own built business, you are free to call it as a business. Business is providing bread for other families. You work 24/7 in a business but when you are entrepreneur, you work and think and think more for new ideas and work harder.


How to be an Entrepreneur?

So after reading the whole story until now, the question would have arrived in mind as how can we be an entrepreneur and not do just a copied business. If not, just know that entrepreneurs make big name and money than businessmen. Just an example, WhatsApp is something new and innovative and only app that stands in market with such huge popularity. There had been many different apps came after it but Whatsapp is still being used most widely.

The two approaches
There are two approaches to be an entrepreneur. One way is to find something new to create and make it in a way that people love to use it. Make this new product and keep pivoting, don’t stop there and don’t worry if first product is not as good as you thought of. In fact, there is a concept of MVP – Minium Viable Product. MVP is a prototype of your final product but having very limited features. In fact, you don’t need to and must not create something that is good for you and has ample of features, instead, what people need is what you should put in.

Other way is to find something that has been created but misses many important features; find those loopholes, incorporate them and create better and more useful. It is like finding faults in already innovated product or service which is obviously very easy to do being a human but what difficult part is to innovate and have solutions that work for this product or service. Don’t trust me? Facebook was successor to Orkut by Google although by very less margin days. There are lot of things that have been created but you can still improve them a lot and deliver better products.


We always find faults in people, systems, tech and every other thing. If you go to review sites, most reviews would be negative than positive. You see an app on iPhone and feel this should have such and so features, well, write them all!!! They are your entrepreneurship ideas. 

Idea can stuck in your head anytime. I keep notes in my phone ready. I wake up from a sleep with something new and I write it. You write and you might fall back to sleep. Keep writing those things and when you have found something you really can do or create and will love to stick to it for long time, go for it whenever you can.


Why I mention whenever you can?
The reason is the reasons you will have not to do it now. There will be times when you will not be able to take much risk for the thing or technology you want to pursue. There will always be issues to startup but whenever you think you can do it, just do it. The most important thing that could set you back would be money. Make sure you have enough capital to cover initial setup cost and to get you going for another six months at least. Once financials are covered by yourself, family, friends or some investors, you will still need awesome team that believes in you and your idea, that is willing to work with you and make your product successful.


Entrepreneur is in everyone. You just need to look for it, look for your hidden interest and potentials, your strengths and weaknesses and work on them. As Steve Jobs said in his speech in Stanford University: “Keep Looking, Don’t Settle”

I always live by that phrase, keep looking, don’t settle and once you find what you love, take out a paper and make a map for that journey. Once you have enough resources, go for it. Risk it ALL and trust that everything will be alright in time.

The only thing you need is to keep looking faults in things you use everyday or find something that doesn’t exists on the first place. There might be a day you will want something that could ease things out and that would be another idea which is creative one, just try and Google to check if that already exists or not. Even if it does, look for the features as what it provides and how you can improve on it.

Anything that is built was built in a brain first. You might not be able to do it today but that doesn’t mean you never will. Have your ideas discussed with people and try to think more in it. But make sure you are not discussing it with wrong people, you need to be careful since there are people who will show you the negative in any and everything, they won’t push you to go beyond your limits, they might be good friends but not good enough to discuss such things.

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Pankaj Dhawan

Hello, I am Pankaj Dhawan starting out to share my knowledge in hope to serve you very well, as much as possible and I am open for any criticism.

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Entrepreneurship – Why innovation is important and how to begin on innovation

by Pankaj Dhawan time to read: 5 min