Saturday, June 28, 2008

SMEs - drivers of innovation

SMEs are often perceived to be drivers of innovation. I think the truth is more likely that entrepreneurs are the drivers.

Unfortunately not all SME owners are entrepreneurs. Entrepreneurs are generally considered to be opportunity aware, which is why they are often instigators of innovation. These entrepreneurs through their SMEs, will often drive the innnovation forward quickly, simply because they are small and nimble and able to embrace change. The downside is often these entrepreneur will embrace innovation and then build a successful business around it. Therafter they no longer innovate.

This is the sad part for which we are all the poorer. Entrepreneurs must continue to innovate, and this is why entrepreneurs must become portfolio entrepreneurs, and build other businesses. They must maintain innovative momentum, through ongoing opportunity awareness.

So if you are an innovative entrepreneur, ask yourself whether you are still innovating or whether you have stagnated into a humdrum life of one business. If the thought of starting another new business scares you, ask yourself whether you are still the entrepreneur you once were?

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