The Essence of Innovation and Entrepreneurship

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Here’s a priceless bit of entrepreneurial insight recently shared with me by A. Ray Dalton, founder and CEO of PartsSource, LLC, winner of the prestigious Ernst & Young Entrepreneur Of The Year award and author of Proceed With Confidence :

Step 1. Find a problem. First and foremost, as entrepreneurs, we’re problem solvers.

Step 2. Solve the problem. Use your imagination and creativity to find a solution to the problem.

Step 3. Find more people that have the same problem.

Problems are opportunities. The world is full of problems. Use your innate passion and creativity, drive and determination to solve problems. Watch you business grow.


Insights, Exploits And Life-Lessons

3 Responses to “The Essence of Innovation and Entrepreneurship”

  1. on 16 Mar 2007 at 1:26 pm 1.Maureen McQ said …

    Gary, this is looking really good.

    I’m thinking of ordering some fish. Sushi grade salmon and halibut delivered to the door…

  2. on 16 Mar 2007 at 4:05 pm 2.Steve Rucinski said …

    YOu are starting to get on a roll, keep going, good stuff!

  3. on 25 Mar 2007 at 10:01 am 3.Brad Kleinman said …

    Couldn’t agree more with Ray’s advice (he’s a great guy…met him the other day!) Check out our competition we’re running with CASE, CIA, CSU, and CCC called the 2007 Vision Entrepreneurship Competition (www.VisionCompetition.com). Instead of having them fill out an incredibly long business plan, we have them answer four questions: 1.) What’s the problem? 2.) What’s the solution? 3.) What skills and abilities do you have to see it through? 4.) Why is it viable and sustainable. We’ve received over 40 submissions in a matter of weeks!

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