Throwing shit against the wall ain’t entrepreneurship
With the rise of hackathons and startup weekends it seems that successful businesses can be routinely created in a matter of hours.
On a related note: some people question the value of business strategy and planning in the face of shortening business cycles.
Listen: just as buying lottery tickets is no substitute for knowing how to earn a living, and hail-Mary passes by themselves don’t win football games, throwing business ideas indiscriminantly against the wall to see what sticks isn’t entrepreneurship.
Entrepreneurship is the skill of turning creativity into a sustainable business. The “sustainable business” part requires careful thought and execution. Remove it from any definition of entrepreneurship and you turn “ready, aim, fire” into “fire, fire, fire” in the blind hope of hitting a target. ANY target.
Yes, business cycles are getting shorter. So reduce your strategy and planning cycles accordingly.
Yes, technological changes present frighteningly large, swift and powerful challenges. But the heat of battle is no time to panic; this is precisely when a cooler head with a well-considered strategy prevails.
Yes, complex and time-consuming strategy and planning methodologies are increasingly obsolete. But don’t throw your thoughtful baby out with the turgid methodological bathwater. Instead, find a strategy and planning approach that’s better suited to today’s faster pace — one that encourages you to think critically.
Hey, I don’t mean to disparage hackathons and startup weekends. They provide an exciting new approach to the “creativity” part of our entrepreneurship definition. Just keep in mind that the Red Bull-fueled rush of cranking out a potential new business model is only the first step; it must be followed up by strategic thinking.
Now THAT’S the start of entrepreneurship.