Innovation is the specific instrument of entrepreneurship…the act that endows resources with a new capacity to create wealth.” – Peter Drucker

Wealth is an outcome, not a mission.  It is a result of the creation of value.  Money is one way to measure value but there are others.

The creation of value consumes resources.  Money is a resource but there are others.

Innovation creates value that did not exist before, which is a powerful tool of the entrepreneur.  But equally powerful, and necessary, is the ability of the entrepreneur to gather the necessary resources to bring that value into being.  These include money, people, partnerships, advisors, investors and early customers.  We call these validations.

If you measure anything at all, measure your validations.  They are the leading indicator for the Startup.  They lead to success in the business.

 

Blogging Gazelle is published daily by Shawn Carson

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