People usually confuse the fact that “making money” is the creation of money – looking pragmatically into this matter tells us otherwise. Creation is a totally new and an unconstrained (sometimes creative) approach of looking at innovative ways of doing business. Creation of money is to be able to create your own pie, and then have it yourself. Therefore, defining a market niche and approaching it without sharing is alluring for creative people.However, the challenges that stand in the way of creativity can never be overlooked by its chasers. Often those working in niche markets have no footsteps to follow; Risk is always a factor to be considered; and fear of wastage of time, money and work are always there in the minds of the exploiters. Still, nobody can change the fact that these challenges are the core factors to deal with in order to create money. Laborious work and insightful thoughts are the seeds of this theoretical concept. Creation is not only getting your pie from the economy, but also a way to create your own space and start creating your value.
Mostly, people are affiliated with different companies: some of them feel proud to be affiliated with multinational companies. Some use the skills they have acquired from their experience to start their own businesses and become a part of the existing market competition. Creating money is something else: creating money means creating an idea which has an unimaginable potential in the immediately. It does not mean to become a part of a traditional business setup. It is to explore the new and uncharted corner to create money. Creation is to define your own direction, dig your own well, or drill your own tunnel (regardless of whether it is going in the perfect direction or not); Define your business strategy in your own way by defining your procedures and target customers in a unique way to tackle the prevailing business competition. Leave the traditional way of working which is defining goals and strategy instead start making a difference in your own way.
There is no doubt, that the results of this creativity may need a long time to come to fruition (depending on the work) but the returns both financially and in terms of personal growth (and business acumen) can be well worth it. Creativity cannot give its follower the guaranty of success, but it has the potential for limitless profit if the prevailing winds blow in your favour. Many newcomers cannot fight with existing strong market players especially in such a competitive business framework. The best option for them is to be a ‘creative entrepreneur’. If you cannot compete with your strong competitors – it does not matter – a creative business plan is enough to gain recognition in the existing market. However, there are some conditions which need to be met, for example having an idea which will not only make a profit for you in the short to medium term, but also gain the attention of the market is called the evolution of creation. In comparison, if you have an idea which has potential in the near future, which is just as good, it will gain, in comparison, less recognition as investors will see that they will get a result in later years, which means putting in money initially. To sum up, ideas which have an immediate impact are more prone to ‘creating money’ in contrast to ideas, which give fruit later.
Confusion in Business Studies
After the advent of the advanced managerial formation of business, almost all professionals and non-professional career seekers have been enrolled in MBA or other business courses in order to become an efficient manager. However, the outcome is not always what it should be. Some universities know the real purpose of this management training. This program was designed to open up the way you think in terms of business and push you to think outside the box. These business courses were not just about making money from existing economic pie, but to create money for yourself. It was not just about being a part of traditionally formulated business operations or strategies but about understanding the real sense of the business and creation of the wealth. In management, every individual is right, if and only if, he/she can defend his/her point of view. This theoretical training course is about creating money from the existing competitive business environment. However, the problem is that courses like the MBA are very repetitive and extremely systematic. This systematic thought has no room for innovation. For example, looking at Bill Gates, he did not have a degree in product marketing or development. All he has an idea; an idea with great potential. The MBA just trains thousands of people in the same way and is the reason why the current creativity level is so low.
To be innovative, you need to break a lot of rules in the existing market and also have the nerve to be extremely resistant to criticism. The existing market functions on a fail-safe, i.e. a potential idea which fulfils the immediate need is a threat to the existing marketers. This is the reason why, before you have a chance to develop your idea, the current competitors will try to shake you off. However, resilience is one thing no one can teach. It is learnt from experience and hard work.