Is entrepreneurship about innovative ideas?

eggactly.
:sshhh:

*music*
Silence is golden, golden...

Though, I sense a return fire from the unfallable Biggie Happens when two types of opinions are polar to each other, mostly out of confusion.

At the risk of creating even more confusion, I'll try to "realign" our discussion before it goes off the rails.

We need to redefine the parameters of the arguments and derive possible conclusions.

I think the original argument was about having an "idea" (it is a subset of innovation), instead of being innovative in general. So, whether you need a new idea, or focus on an existing idea, the execution plays an important role too. Check.

Innovation includes doing anything that is unique or better than your competitors or predecessors. Thus, innovation includes execution as well, but it is not a superset of it. Check.

We can now distinguish from an idea that is innovative, or an idea that is existing. We can also distinguish an execution that is innovative, or an execution that is duplicate of another. Check.

We can state that existing ideas or execution might be patented, so it cannot be duplicated. Check (maybe).

So, basically, we can try assuming that there are four ways to be a successful entrepreneur. Innovative Idea + Innovative Execution, Innovative Idea + Old Execution, Old Idea + Innovative Execution and Old Idea + Old Execution. Check.

Thus, the type of successful entrepreneur you want to be depends on the market you are operating in. Check.

Now, there are a gazillion different types of markets and potential ones. We know that a market is defined as any place that has a buyer (demand) and seller (supplier). Each type of market (and subsequently their products) have its own unique characteristics. Check.

So.. I can personally conclude that, depending on what market you are targeting (or creating), how much of the ratio between an "idea" and the "execution" varies. We can also now add in the "innovative" factor for each. Since we are mentioning so many different scenarios.. from tech start ups to newspaper guys, there is no point in debating.

Lets just stick to one shall we? Pick a market.

Agreed. I guess I messed with the 'innovation/invention' thing. Let's stick to 'innovation' here.

The concept of calling newspaper boy entrepreneur is not mine. I got that concept while attending a presentation by 'The Indus Entrepreneur' (TiE) Organization.

Ash & Durga have valid points and I don't deny. The examples I took were mostly tech-entrepreneurs [not Sir. Richard Branson; who got started with a magazine called 'Student'].

I have many examples of successful entrepreneurs who didn't do a single innovative [as in something 'new'] thing, yet built successful businesses.

That is why I say, entrepreneurship is not about innovative ideas.

So.. in a sense, if there was no innovative action by Biggie, CE would not exist?

*grin*

I do concede with Biggie's point, too, that entrepreneurship is not ALL about innovative ideas. As a reminder though, it is strongly dependent on circumstances and target market. Since we are engineers here, we'd tend to be technologically biased. We all know that technology progresses at an exponential rate, thus new ideas play a key role.

Now don't pull CE in!

Concept of forums existed. Concept of engineers forum existed. We didn't do anything new. We are executing stuff (and so far quite successful) differently (from other engineering forums) and so we have survived.

Come on. I'm always right! [ Muwahaha ]

I believe that the idea may or may not be innovative but the process of implementing the idea should be innovative then our business grows.

Well, one thing I can tell you.. depending on what you do, its quite hard to be an entrepreneur during studies

I guess you'll need dedication to successful execution of ideas.

Dude - Know the story of Google? Two PHD folks - a project - evolves into a startup - then into a billion dollar company that rules ...

No excuses.

No excuses? Not everyone in this world are like them, Bill gates, or [insert popular entrepreneur whoever had a unique history regarding college]

I don't know how you managed in your final year of studies, but I'm totally pressed for time. I do have a small business with friends, but all of us are so busy with our studies that things are progressing too slow. It would be much easier if we had pursued something that aligns with your interests and field of study.. which is one of the reasons Sergey Brin pulled it off quite well.

Well, maybe you should drop out . College drop outs notoriously amass wealth in the long run.

I'm just joking . You can very well start working on your venture once you graduate.