When entrepreneurship started making its way into academia as a subject matter, at least three decades ago, concepts that applied to business in general, all related to management theories, were applied to the startup world, whether they fit or not. If you look through the literature of the time, there was talk about values, mission and vision – concepts applicable to management in general. The thought leaders at the time still had some ways to go to develop new insights into what creates successful entrepreneurs, different from the insight of what good management in the corporate world is. Good managers in large organizations do not necessarily make good entrepreneurs.

With time, advances in digital technology, in the general sense of the term, took us down this huge, decades long curve of adoption and affordability. I like to think that a point was reached when a critical mass of people started to consider as a viable option launching their own businesses instead of going to work for a large company. The business academics continued to look at what was going on, and then things converged towards the point where we are at now. We converged back to thinking about entrepreneurship in the same ways that brought forth all the advances that the age of reason did. We decided to apply scientific methods, modeling, systems, to something that may seem as unscientific and unpredictable as customer wants and needs, the whims of consumers. We found ways to analyze, quantify and optimize our processes to bring value to the millions of players in the market. We arrived at ways to describe the science behind the development of good entrepreneurs.

The study of entrepreneurship as a subject matter continues, as well as the debate on whether you can teach it or not. If you have decided to take on the entrepreneurial path, it would be wise to adopt a self-assessment mode, to adopt the same modeling and systems methods. If you approach your entrepreneurial endeavor around value creation, you will be in the right path. As long as you are always thinking about how you can make the life of your customer better, easier, richer, more fulfilling, you will increase your chances of optimizing your value creating efforts, and you may become a very good entrepreneur.

Our View from the Top – January 22, 2019