Page 38 - Grow from Within Mastering Corporate Entrepreneurship and Innovation

Understanding Corporate Entrepreneurship 25

Kellogg School of Management distinguishes from lifestyle
entrepreneurs. Lifestyle entrepreneurs found a company in
order to build a livelihood, doing most things the same way
other firms in the same business do, such as dry cleaners or tra-
ditional law firms or accountancies. Their founders are entre-
preneurs, to be sure, but they have different priorities and
requirements from people who are aspiring to be the next Bill
Gates or Richard Branson.
Furthermore, the myth of the lone inventor is alive and well.
Despite many articles to the contrary, many managers and
researchers implicitly or explicitly believe in the apocryphal
Edison-like lone wolf who, through endless tenacity, effort, and
genius, mysteriously generates the next big thing. Andrew
Hargadon’s excellent book, How Breakthroughs Happen, con-
fronts this myth: “Entrepreneurs and inventors are no smarter,
no more courageous, tenacious, or rebellious than the rest of
us. They are simply better connected.”
While this might be unfair to some of history’s great inno-
vators, the point is that you don’t need to be a Richard Bran-
son to build a new business. Many people do it, even some
who never intended to become entrepreneurs. New start-up
businesses typically increase during recessions as talented,
motivated people lose their jobs or become dissatisfied with
their existing career prospects.
However, we run the risk of overcompensating. The myth
of the maverick entrepreneur may be dangerously misleading,
but so, too, is the contrary notion that there is no role for the
unique type of person who is capable of and motivated by the
challenge of creating new things. Being an entrepreneur, inde-
pendent or corporate, is a unique role, with demands and
potential rewards that differ from those of business as usual.
While entrepreneurship is a demanding path, it can also be
quite rewarding.