Entrepreneurship and Wealth Creation: Felix Dennis on Success

A smiling woman with curly hair in a home office illustrates the link between entrepreneurship and wealth creation

What’s the connection between entrepreneurship and wealth creation? If you want to be rich, do you need to start your own business? According to self-made millionaire and entrepreneur Felix Dennis, entrepreneurship and wealth creation go hand in hand. In How to Get Rich, he explores the mindset, skills, and strategies needed to build a successful business empire. Read more to explore Dennis’s perspective on the path to financial success.

How to Encourage Innovation in the Workplace

Three plants in the dark growing lightbulbs, representing how to encourage innovation in the workplace

Why is it hard to be innovative at work? What’s the importance of innovation for managers, entrepreneurs, and employees? Innovation doesn’t come naturally to most organizations, and yet it’s a necessity in modern business for people to think like entrepreneurs. Peter F. Drucker argues that even successful companies must make an effort to invest in innovation. Continue reading to learn how to encourage innovation in the workplace.

Creative Leadership: Tips for Entrepreneurial Thinking

A manager embracing creative leadership by cheering at his desk with colors splashing behind him

Do you know how to be an innovative leader? How can you communicate innovation to your team? Peter F. Drucker argues that businesses have a social obligation to innovate since their stability impacts jobs and the economy. To enable innovation, businesses must restructure themselves to reward entrepreneurial thinking. Continue reading to learn how to embrace creative leadership.

How Innovation Comes From Good and Bad Surprises in Business

A woman in a suit waiting for good and bad surprises by holding an unopened present

Can bad surprises be a good thing in business? How should you take advantage of the unexpected? Innovation often comes wrapped in unexpected packages, such as unforeseen successes or failures. Companies must be ready to respond to these unanticipated events, as they can offer valuable insights into potential growth opportunities. Find out how to inspire innovation out of good and bad surprises.

How to Get Innovative Ideas: 4 Places of Inspiration

A person pressing a button with a lightbulb under the word "INNOVATION," figuring how to get innovative ideas

Do you know how to get innovative ideas? Where are key places to find innovation? Once you’ve achieved an entrepreneurial mindset and structured your business to reward innovation, it’s time to go out and find that innovation. To do this, businesses should adopt a systematic approach to identifying opportunities for innovation rather than relying on rare strokes of genius. Here are the places where innovation will come to you.

How to Identify Business Opportunities in Unexpected Places

A man looking up skyscrapers in a city, wondering how to identify business opportunities

How can discrepancies open up opportunities for innovation? How can you take advantage of a bottleneck in the market? The lesson learned from successes and failures is that opportunities to innovate can be found in unexpected places. In particular, Peter F. Drucker emphasizes mismatches in economic assumptions, customer value perceptions, and inefficient industrial processes as fertile ground for innovators. To find out how to identify business opportunities in these situations, keep reading.

How to Create a Product Vision That’s Strong and Flexible

A woman thinking of a product vision with lightbulbs, pens, and other office materials

What’s a product vision? How can your vision be strong but flexible at the same time? Before creating a product, a leader must define and articulate an overarching vision to guide their team. Marty Cagan and Chris Jones write that a product vision is the company’s mission, as reflected through its products and services. Continue reading to learn how to create a product vision as a leader of a business.

The Disadvantages of Inventions: Peter F. Drucker’s Opinion

A red on a lightbulb showing the disadvantages of inventions

Why is it so hard to sell a unique invention? What are the disadvantages of inventions? In Innovation and Entrepreneurship, Peter F. Drucker says that, while innovations can be successful, entrepreneurs need to be careful with them. Sometimes, a groundbreaking new product can prove difficult to sell. Take a look at why Drucker doesn’t recommend inventing from scratch.

How to Introduce a Product to the Market: 3 Approaches

Two team members strategizing at their desk with a whiteboard, figuring out how to introduce a product to the market

Do you have a new product you want to show off? Do you know how to introduce a product to the market? Any market-entry strategy carries its own set of risks and rewards and requires careful planning and execution. Peter F. Drucker presents three options—you can corner a brand-new market, take advantage of another innovator’s mistake, or take over a narrow niche within an existing industry or marketplace. Let’s explore all the options for introducing a new product to the market.

The 4 Strategies of Startup Management: Boost Your Business

An owner specializing in startup management proudly stands in front of her small business

What are the most important aspects of startup management? What type of management team does your startup need? While big businesses need to learn how to innovate, the entrepreneurial startup needs to learn how to manage itself. According to Peter F. Drucker, startups need to focus on four specific things: their market, financial planning, setting up a management team, and what role their founder should play in the business. Keep reading for helpful advice that every entrepreneur of a startup needs to hear.