Insight Out

Entrepreneurship is applying innovation, to bring unique ideas to fruition, thereby inspiring others’ imagination.

involves challenging assumptions, reframing situations, and connecting ideas from disparate disciplines. The resulting breakthrough ideas reveal opportunities and tackle challenges that haven’t been addressed the same way before

Innovation is applying creativity to generate unique solutions. In contrast to creativity, innovative ideas are new to the world, not just new to the inventor

“creative ideas don’t have to be original to the whole world, but they must be original to you, and they must have value.”

Original things must be effective to be creative.”

Mark Runco and Garrett Jaeger of the Torrance Creativity Center

Creativity is applying imagination to address a challenge. Creative ideas fill a specific need and are manifest in the world. They are new ideas to you, but not necessarily new to others. It is important to distinguish between imagination and creativity. It’s imaginative to fill your thoughts with scenes of the seashore, and it’s creative to apply your imagination to paint a picture of the scene.

Imagination is envisioning things that do not exist. This requires curiosity, engagement, and the ability to conceive of ideas in your mind. This natural skill is influenced by your experiences, both real and fictional. Therefore, the more diverse your inputs, including travel, books, cuisines, music, and films, the more robust your imagination.

The Invention Cycle
• Imagination is envisioning things that do not exist.
• Creativity is applying imagination to address a challenge.
• Innovation is applying creativity to generate unique solutions.

if you want to accomplish something of merit, you need to find ways to magnify your impact by influencing others to support your efforts.