the creative entrepreneur - think kit · the advisor and entrepreneur can now discuss how the...

THECREATIVEENTREPRENEUR

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This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein.

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Who has developed the tool?

The Creative Entrepreneur has been developed by CidaCo – the UK’s The Creativity and Innovation Company.

Why was this tool developed?

In ten years of working with creative entrepreneurs CidaCo has recognised that those who achieve their ambitions demonstrate particular characteristics which enable them to be most effective. By identifying and articulating these characteristics, CidaCo has been able to encourage and nurture their development in new entrepreneurs and those seeking to develop their business.

For whom has this tool been developed?

The Creative Entrepreneur has been developed for creative entrepreneurs in the early stages of their business. They might be young people, but could equally be someone embarking on a second or third career. They may have different starting points but they are most likely to want to engage in enterprise for one of the following reasons, or for a combination of these reasons:

• Because they want to earn a living from their creativity• Because they see an opportunity to develop their communities through their creativity• Because they believe they have an idea which is potentially scalable and profitable

How should this tool be used?

The Creative Entrepreneur sets out a process which is best followed by the entrepreneur working with an advisor or consultant. The role of the advisor is to guide the entrepreneur through the questions; to help her or him think about the way s/he works; to encourage the development of good practice.

Organisation

CidaCo, The Creativity and Innovation Company

Description of activities

CidaCo works to inspire and energise people to achieve spectacular results. CidaCo does this by helping them realise their own capacity for new ideas (creativity) and to turn their good ideas into successful reality (innovation)

Contact details

Name Dawn A. RogersAddress CidaCo, Munro House, suite 16ZIP + City Leeds LS9 8AGCountry UKTel (+44)113 373 1754Email [email protected] www.cida.org

THINkkIT

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What makes a Creative Entrepreneur?

This booklet describes ten characteristics which we at CidaCo – the Creativity and Innovation Company in the UK - have identified in the successful creative entrepreneurs we work with.

We have looked closely at each characteristic and analysed what it means, how we recognise it, and how it contributes to success.

In this booklet we’re presenting these characteristics in a way which enables a creative entrepreneur – working independently or with an advisor – to look at what they do and how they do it, and to think about ways in which they can further develop their skills.

This process is particularly suited to creative entrepreneurs in the early stages of their business. They might be young people, but could equally be someone embarking on a second or third career. They may have different starting points but they are most likely to want to engage in enterprise for one of the following reasons, or for a combination of these reasons:

• Because they want to earn a living from their creativity• Because they see an opportunity to develop their communities through their creativity• Because they believe they have an idea which is potentially scalable and profitable

The skills which will assist the development of a creative entrepreneur are no different to those which will assist any entrepreneur. But there are differences in what drives most of those who set up an enterprise as a result of their creativity. In essence:

• They are motivated by the work itself rather than by ‘being in business’• They are values rather than profit led• They create markets rather than respond to market need• They are conceptual thinkers

INTRODUCTION

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Each section of the booklet looks at one of the ten characteristics and prompts a discussion between the creative entrepreneur and their advisor which will help the entrepreneur develop their skills.

We have borrowed the language of the skills agenda which is commonly used across Europe in, for example, the European Quali-fications Framework. Standards, and indicators of effective performance give us a way of describing what is expected of us and what we expect of ourselves.

Standard: a standard describes the skills, knowledge and understanding needed to undertake a particular task or job

Indicators of effective performance: these are the ways in which we demonstrate that we not only understand the standard but that we put it into practice. The indicators describe what you should be able to do if you are meeting the standard describedWe have added prompt questions which we use in our work to help the entrepreneur identify what s/he is good at and how s/he can improve.

Here is an example of how an advisor working with a creative entrepreneur might use the booklet:

The advisor encourages the entrepreneur to talk through their business idea. Together they look at each characteristic. Through discussion using the prompt questions the advisor ensures that the entrepreneur understands the standard and the indicators of effective performance for each characteristic.

WHAT THE CONvERSATION MIGHT SOUND LIKE: Advisor: Let’s look at what Strategic Thinking means… • Understanding and valuing the planning process • Recognising external trends and opportunities • Thinking through complex situations and implications Why do you think these things are important to your business? Entrepreneur: If I don’t think ahead I might find that an opportunity comes up and I can’t take advantage of it because I don’t have the time or the resources or I don’t know if it’s right for my business. Advisor: Okay. So let’s look at Understanding and valuing the planning process • Where would you like to be professionally in three years time? • Do you have an outline plan in your head? Or in writing?

The advisor and entrepreneur can now discuss how the entrepreneur can improve her or his ability to think strategically.

The booklet can also be used by entrepreneurs working alone. The prompt questions will help them to identify areas in which they need to improve their skills or do more thinking about the needs of their business.

HOW THE bOOklET WORks

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The client has been trading for three years. She is a sole trader and has no employees. She has a turnover of ten thousand euro per annum. She makes one-off fashion items from recycled clothes and fabrics.

The consultant used the Creative Entrepreneur tool on the initial meeting “to establish whether the business and business owner had the capacity for growth”. This was the first of four one-hour sessions he would have with the client. He reports:

“I used all areas of the handbook though not in the order they appear. I used the tool in an informal way to stimulate thinking and conversation. I was able to understand the client in relation to her entrepreneurial skills, and to establish what areas she needed to develop.”

The consultant was able to make the following assessment of the client’s position:“Conceptual thinking: receptive to introduction of ideas for growth and alternative ways for achieving success – goodCommercial aptitude: client fully aware of trends with a huge passion for the market – goodCustomer sensitivity: focused and inspired by customers – goodProject management: guidance needed in turning ideas into reality for effective business growth – needs developingInnovation: over the four sessions the client demonstrated growing understanding – from satisfactory to good”

Using the tool as a guide over the four sessions the consultant felt able to help the client to think through the issues she needed to consider in growing her business. As a result of the process she made the decision to recruit a small team of independent sales consultants on a commission basis to help expand her market.

CAsE sTUDIEs

CAsE sTUDy 1

CAsE sTUDy 2

The client had recently been made redundant and was considering setting up a business making small items of furniture which he had been doing for several years as a hobby.

The consultant used the Creative Entrepreneur tool “to get the client to think holistically about his business idea – to see whether he understood all the skills needed to run a business.”

The consultant took each section of the tool and used the questions to help the client think about what being in business involves: what his hopes are for the future; what values are important to him; his attitude to financial risk; his ability to communicate with people etc. The consultant reports:

“The client responded well to the material and was able to engage easily. He enjoyed the opportunity to challenge himself and to evaluate his thinking about his business from different perspectives.”

The consultant only had one two-hour session with the client which she considered too short to work through the tool effectively. “The client felt it would have been better to have the questions in advance or to have more time to think and absorb the questions. He found it difficult to come up with on the spot answers but thought that the questions were relevant and useful and that he would continue to consider the points after the session had finished. He said that it had raised his confidence and made him feel as if he was on the right track.”

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FURTHER INFORmATION

The following exercises and techniques will help with in the development of skills and aptitudes for the standards.Websites providing sources of further information are listed below. Inclusion in this list not does imply that CidaCo endorses the contents of these websites.

• Defining values www.businesslink.gov.uk

• Brainstorming techniques www.businessballs.com

• Strategic planning processes including PESTLE, SWOT and SMART Goal Setting www.businesslink.gov.uk

• Competitor analysis www.businesslink.gov.uk

• Project management systems managementhelp.org

• Evaluation techniques www.evaluationtrust.org

• Options appraisals www.bnet.com

• Risk assessment techniques www.businesslink.gov.uk

• Customer relationship marketing www.businesslink.gov.uk

• Leadership styles changingminds.org

• Team building www.mindtools.com

• Equal opportunities practice www.smallbusiness.co.uk

• Mind mapping www.mindtools.com

• Lateral thinking www.thinkingmanagers.com

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Introduction

How to booklet works

Case Studies

Further Information

values-Led

Conceptual Thinking

Strategic Thinking

Commercial Aptitude

Project Management

Risk Taking

Networking

Customer Sensitivity

Leadership

Innovation

Personal Notes

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CONTENT

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VAlUEs-lED

1918

... HAs ClARITyOF PURPOsETHROUgHVAlUEsAND bElIEFs

VAlUEs-lED

... UsEsTHE VAlUEsTO UNDERPINDECIsIONmAkINg

... ENsUREsTHAT THEVAlUEsINFlUENCEAll ACTIONs

You have thought about and identified the values most important to you

You demonstrate your values through what you do and the way you do it, not only day to day but also in difficult or challenging circumstances

You communicate your values directly and indirectly through what you do and what you say

You think about your values and how they might impact on your decisions

When you make decisions you make sure that they are consistent with your values

You create action plansthat are consistent with your values

You review your action plans to ensure thatthey remain consistent with your values

Your actions are always supported by your values

INDICATORs OF EFFECTIVE PERFORmANCETHE sUCCEssFUl ENTREPRENEUR…

THE sTANDARDThe entrepreneur has a clear sense of the values and beliefs that underpin the creative and business decisions that they make and that influence the actions they take, particularly when in difficult or challenging circumstances

What are the three values most important to you? Why are they important?

Can you give an example of how someone would know what’s important to you?

Do you talk about your values on your website or promotional material?

PROmPT qUEsTIONs

Can you think of a situation when your values helped you to decide what to do?

How do you ‘check-in’ with your values? For example, do you talk them through with friends, family or colleagues?

Could you say ‘yes’ to the following statements:• I would turn down work if it conflicted with or compromised this value

• If I woke up tomorrow with enough money for the rest of my life, I would still live by this value

• I could not work with people who did not share this value

2120

CONCEPTUAl THINkINg

2322

... UsEs FREsHAPPROACHEs

... COmEs UP WITH CRAzy IDEAs THAT mAy jUsT WORk

... TAkEs TImE TO lIsTENTO NEW IDEAs WITHOUT PRE-jUDgEmENT

You see challenges as opportunities rather than constraints

You keep an open mind to allow possibilities to flow in

You look at things from as many perspectives as you can

You look for patterns and connections that are not immediately obvious

You brainstorm and use lateral thinking to stimulate ideas

You involve others to stimulate your thinking and ideas

You use experiences from other situations to throw fresh light on current circumstances

You follow through ideas to test their feasibility

You actively listen to others without making any assumptions

You maintain an open mind to the suggestions of others

You demonstrate that you value other people’s ideas and give positive and constructive feedback

CONCEPTUAl THINkINg


THE sTANDARDThe entrepreneur is prepared to use fresh approaches; comes up with crazy ideas that may just work; and takes time to listen to new ideas without pre-judgement

Can you think of a situation where you saw things differently to others around you?

Do you get excited by finding solutions to problems? Can you give an example?

When was the last time you found inspiration from an unusual source?

How would other people describe your ideas?

Who do you ‘bounce ideas off’?

Can you describe the last time you experimented with an idea?

Would your friends and colleagues describe you as a good listener?

Do you encourage other people when they are coming up with crazy ideas? Can you give an example?

PROmPT qUEsTIONs

2524

sTRATEgIC THINkINg

2726

... UNDERsTANDsAND VAlUEsTHE PlANNINgPROCEss

... RECOgNIsEs ExTERNAl TRENDs AND OPPORTUNITIEs

... AblE TO THINk THROUgH COmPlEx sITUATIONsAND ImPlICATIONs

You are able to define what success means to you so that you have clear goals to plan for

You identify routes for getting from where you are to where you want to be

You familiarise yourself with the journeys other people in your field have taken and evaluate their relevance to your journey

You are aware of the world around you and think about how it impacts on what you do

You identify key trends in the wider environment including political, economic, social, technological, environmental and legal areas

You read, listen and talk to other people so that you are informed by a wide range of views and experiences

You take time to think through complex issues and the implications that affect your strategic plans

You research and learn about the market you are in, and about your competitors, and use that knowledge in your planning

You gather information and use it to understand and analyse complex situations

sTRATEgIC THINkINg

Where would you like to be professionally in three years time?

Do you have an outline plan in your head? Or in writing?

Thinking of someone whose work you admire and who you consider to be successful, do you know what they were doing at this stage in their career?

When you read or listen to the news do you think about how it might affect your business? For example, a change in government; the budget; local elections; changes in the law?

Can you give an example of when you initiated a political conversation to see what other people thought?

Can you describe a situation where you changed or reviewed your plans because of something that happened in the wider world, for example the recession or the rise in oil prices?

Do you look at your competitors’ Facebook or websitesto see how they are responding to the changing context?


THE sTANDARDThe entrepreneur understands and values the planning process, thinking and planning over a significant timescale;recognises external trends and opportunities; and is able to think through any complex implications for the business

PROmPT qUEsTIONs

2928

COmmERCIAl APTITUDE

3130

... kEEPs UP TO DATEWITH DEVElOPmENTsIN THE sECTOR

... sEEks OUTbEsT PRACTICE

... IDENTIFIEs AND sEIzEs OPPORTUNITIEs

You read specialist journals, trade magazines, and online information sources relevant to your sector

You research and analyse the competitive forces that influence your market

You read professional journals, attend conferences and other events to keep your knowledge up to date

You record good ideas and useful ways of doing things that other people have used to build a resource for your future use

You ask for help and advice from people who are more experienced than you

You actively look for new possibilities and openings in the market

You use your relationship with existing customers to learn about what they want or need so that you can develop new products or services

You adapt your plans or approaches to make the best of new opportunities

INDICATORs OF EFFECTIVE PERFORmANCE

COmmERCIAl APTITUDE

THE sUCCEssFUl ENTREPRENEUR… PROmPT qUEsTIONs

Can you describe two or three trends in your sector which might influence the market(s) for your work?

Who have you had a really useful conversation with in the past six months? How did you act on the information or advice you received?

Can you describe a situation where you ‘created’ an opportunity?

How do you keep a record of your customers’ likes and dislikes, or improvements they might suggest?


THE sTANDARDThe entrepreneur keeps up to date with developments in the sector; seeks out best practice; and identifies and seizes opportunities that are not obvious to others

PROmPT qUEsTIONs

3332

PROjECT mANAgEmENT

3534

... UNDERsTANDsWHAT Is REqUIREDTO mAkE THINgsHAPPEN

... TURNs IDEAsINTO REAlITy

... mONITORsImPlEmENTATION

You define and plan the size and scope of the project

You identify what resources you need to implement the plan: money, people, time, equipment

You keep the big picture in mind while ensuring that attention is paid to the detail

You use your understanding of team dynamics to select and manage the right team for the job

You effectively manage resources: money, people, time, equipment

You negotiate and reach agreements that facilitate successful delivery of the project

You introduce systems and processes to ensure clear communication and understanding between people

You build into the process opportunities to review and adapt

You evaluate the effectiveness of project planning, and identify and share the learning

PROjECT mANAgEmENT

What project or event that you organised or played a major part ina are you most proud of?

Can you describe what you did to make it happen?

Do you have experience of managing or being part of a team that worked and one that didn’t? What do you think influenced whether or not it was successful?

How would you describe your skills in negotiation? Can you give an example?

Can you give an example of a plan you changed because you could see it wasn’t working?

Have you developed a project checklist building on your past experiences?


THE sTANDARDThe entrepreneur understands how to make things happen, turning ideas into reality with the help of teams, and planning and monitoring implementation

PROmPT qUEsTIONs

3736

RIsk TAkINg

3938

... TAkEs INFORmED AND CAlCUlATED RIsks

... RECOgNIsEs THE NEED FOR CHANgE AND CHAllENgEs THE sTATUs qUO

... sEEks OPPORTUNITIEs TO ACHIEVE gOAls

You focus on being ‘risk alert’ rather than ‘risk averse’

You stay focused on the goals and think clearly when under pressure

You confidently use risk assessment procedures

You seek out fresh ideas from a variety of sources

You pursue your goals, seeing obstacles and setbacks as challenges to be overcome

You enlist the support of others to achieve your goals

RIsk TAkINg

You question assumptions in your own thinking and that of others

You operate from the hope of success rather than the fear of failure

You see situations as opportunities rather than threats

Can you describe something that you’ve done which other people might initially have thought of as unwise?

What do you consider the most risky thing you’ve done professionally?

How did you think through the impact it might have before you decided to act?

What – if anything – would you differently now?

How would your friends describe your ‘entrepreneurial spirit’?

Where and when do you seek the support of other people?


THE sTANDARDThe entrepreneur takes informed and calculated risks; recognises the need for change and challenges the status quo; confidently seeks new opportunities to achieve goals

PROmPT qUEsTIONs

4140

NETWORkINg

4342

... UNDERsTANDs THATNETWORkINg Is A kEy bUsINEss ACTIVITy AND CONsIDERs WHAT IT CAN PROVIDE

... PlANs AND PREPAREsFOR NETWORkINgsO THAT IT ACHIEVEsTHE bEsT REsUlTs

You identify where networking opportunities exist

You review the opportunities, costs and benefits of developing new contacts and networks

You use your networks to understand the influences that shape the views and actions of clients, customers and competitors

You actively seek out and maintain informal networks, seeking relationships that are mutually beneficial

You develop relationships with network contacts in a way that builds mutual trust and confidence

You keep a record of the contacts you have made and have systems for keeping in touch with them

You maintain systems for recording information gathered from your networking opportunities so that it can be used to develop your goals

NETWORkINg

What networking events do you regularly or occasionally attend?

Can you think of two or three key insights or pieces of informationthat you got from a networking event which helped your business?

How do you keep in touch with peers and competitors in your field?

Can you give an example of someone in your formal or informal networks recommending you for a piece of work, or you recommending someone else?


THE sTANDARDThe entrepreneur understands that networking is a key business activity which can provide access to information, expertise, collaboration and sales; and that careful planning and preparation helps to achieve the best results

PROmPT qUEsTIONs

4544

CUsTOmER sENsITIVITy

4746

... bUIlDs TRUsT AND lONg-TERm RElATIONsHIPs WITH CUsTOmERs

... gENERATEs A HIgH lEVEl OF CUsTOmER sERVICE

... REgUlARly ExCEEDs CUsTOmER ExPECTATION

You identify opportunities to develop relationships with your customers so that you understand their real and underlying needs

You use market research processes to understand and define customer needs

You develop your existing products or services and devise new products and services to meet customer needs

You regularly communicate with your customers through a variety of means

You ask for feedback from customers to constantly improve service standards

You deal promptly with customer complaints and provide suitable solutions

You remain focused on and inspired by your customers

You look for opportunities to go the extra mile for your customers

You regularly take actions that surprise and delight your customers

CUsTOmER sENsITIVITy

Describe one or two of your customers:

• What age bracket are they in?• What sort of job do they have?• What do you think are their hobbies or interests?• Why do they like your work?• How do you know when they are satisfied with one of your products or services?

How do you keep in touch with your customers?

Can you describe a situation where a customer was not satisfied and what you did about it?

Can you describe a situation where a customer’s idea inspired you to re-think or re-design a piece of work?

If I asked a customer what was special about you or your work what would they say?


THE sTANDARDThe entrepreneur builds trust and long term relationships with customers; generates an expectation of high level customer service; and regularly exceeds customer expectation

PROmPT qUEsTIONs

49

lEADERsHIP

5150

INDICATORs OF EFFECTIVE PERFORmANCE

... sEEs AND VAlUEs THE bEsT IN OTHERs

... bUIlDsTHE TOTAl CAPAbIlITy OF THE TEAm

... ADOPTs THE PRINCIPlEs OF INClUsIVENEss IN PlANNINg AND DEAlINg WITH OTHERs

You understand the principles of leadership and team work so that you can apply them when required

You create and maintain a culture of mutual respect and recognition

You encourage and support others to make best use of their capabilities

You always remember to acknowledge other peoples contribution

You demonstrate and communicate your vision, encouraging ownership of your goals

You encourage your team to take-up professional development, networking and training opportunities as appropriate in furtherance of your goals

You empower, motivate and support others in their work and recognise and celebrate their successes

You are consistent, open and fair in your dealings with others inspiring respect and credibility

You create an environment where people of diverse backgrounds can thrive

THE sUCCEssFUl ENTREPRENEUR…

lEADERsHIPPROmPT qUEsTIONs

Can you give an example of successfully leading a team? What did you do well?

How do you acknowledge the contribution other people make to your work? For example, do you name them on your website or credit them on publicity materials?

Can you give an example of where you’ve inspired someone to do a good job?

How do you show people that you value their contribution to your work?

Can you describe how your values inform the way you deal with people?


THE sTANDARDThe entrepreneur sees and values the best in others; builds the total capability of the immediate and wider team; and always considers the principles of inclusiveness in planning and dealing with others

PROmPT qUEsTIONs

(NB: The word “Team” as used here may refers to employees, partners, suppliers or other project colleagues as appropriate)

5352

INNOVATION

5554

... UsEs ImAgINATION TO DEVElOP NEW IDEAs AND INsIgHTs

... TURNs INNOVATIVE IDEAs INTO PRODUCTs, sERVICEs, bUsINEss PROCEssEs AND RElATIONsHIPs

... ENsUREs THAT INNOVATIVE IDEAs HAVE POTENTIAl TO ADD VAlUE

You give yourself and those you are working with time for creative thinking and time to develop new ideas

You explore different solutions to challenges rather than using the most obvious methods

You are open, receptive and positively encourage the ideas of others (team, clients, advisors etc)

You assess the pros and cons of new ideas which might benefit your customers

You think through all the possible outcomes from your ideas

You take calculated risks when launching or implementing new ideas

You distinguish between ideas that are interesting and those that are important

You evaluate the success or failure of new ideas to develop your learning for future projects

You ensure that your innovations are consistent with your values and beliefs

INNOVATION

How do you ensure that you create thinking time?

Can you give an example of how you have applied creative thinking to running your business? For example, where you work; how you organise your work; how you employ people?

How do you use your customers or suppliers etc in assessing the potential value of a new idea?

How do you ensure that you are gaining maximum benefit from your ideas?

How do you balance the excitement of coming up with ideas with the bottom-line needs of the business?

How do you make sure that new ideas don’t push your business off track?


THE sTANDARDThe entrepreneur uses her or his imagination to develop new ideas and insights; turns innovative ideas into new products, services, business processes and relationships; ensures that innovative ideas have the potential to add value

PROmPT qUEsTIONs

PERsONAl NOTEs

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