Thursday, July 6, 2017

Entrepreneurs: Replicative versus Innovative

All entrepreneurial activities are NOT created equal. Some drive economic growth while others support it. Both are very necessary.

As I've represented entrepreneurs in their real estate transactions, I've recognized the fundamental differences between various venture types. What I hadn't recognized is that there are two major categories and that their impacts are very distinct. Type 1 is Replicative Entrepreneurialism. Type 2 is Innovative Entrepreneurialism.  In short, Replicative Entrepreneurs refine an idea to make it work as best as it possibly can.  Innovative Entrepreneurs come up with new ways of doing things, frequently inventing an industry or product category.

Anyone involved in economic growth, entrepreneurship, and/or serving entrepreneurs will benefit from understanding the two divisions.  For a great article explaining Replicative Entrepreneurialism, click here. For Innovative Entrepreneurialism, click here.

Thanks to the folks at the Carey School of Business at Arizona State University for sharing these great insights. And thanks to Mike Schinkel for tweeting about them!

Here's to your success!

1 comment:

Mike Schinkel said...

Hi John,

Just found this while searching for the links to share with people. Thanks for the shout out!