May 29, 2007

Inventor, Entrepreneur or Both?

Entrepreneurs can be inventors but inventors are not always entrepreneurs.  An inventor has the keen ability to find a problem and find a solution. An inventor often lacks knowledge of the business world to take their product to the market. They should surround themselves with individuals with the business acumen to take the idea to market. Some individuals possess the qualities of an inventor and the business knowledge necessary to take the idea to the market. These individuals are entrepreneurs.

Look at the list below. While it is not a complete list it should give you an idea of some of the qualities of an entrepreneur and investor. Notice the similarities and differences in the qualities of each list.

Characteristics of an Entrepreneur

Business savvy
Self-starter
Creative
Passionate
Risk taker
Positive thinker
Decision-maker
Produces results
Leader
Confident
Competitive
Willing to work long hours
Adaptive
Motivated

“A real entrepreneur is somebody who has no safety net underneath them.”
Henry Kravis

Characteristics of an Inventor

Excellent at locating problems
Finds solutions to problems
Fixer
Resourceful
Dreamer
Unorganized
Intelligent
Can be unrealistic

“An inventor fails 999 times, and if he succeeds once, he’s in. He treats his failures simply as practice shots.”
Charles Kettering




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