Treehouse Society
  • Home
  • Get Support
    • Adult Coloring Pages
  • Get Space
    • Membership for Students
    • Coworking Space >
      • Coworking Membership Application
      • Take a Tour
    • Private Office >
      • Private Office for 3
      • Private Office for 6
      • Private Office for 7
      • Private Office for the Week
    • Event Space >
      • Event Space Application
      • Parking, Directions, and Pro-Tips
    • Meeting Rooms
  • Get Skills
  • Blog
  • Trial Week
  • Donate Now

How Entrepreneurship Leads to Innovation

9/29/2017

0 Comments

 
Picture
The pursuit of entrepreneurialism is a persistent, risky, and somewhat sweaty one.  Business entails creativity, and not just a little bit, but a lot, and as an entrepreneur, you should figure out the market trends and figure out a problem you want to solve. Solving the problem could require a lot of creativity and hustling. 
en·tre·pre·neur·ship
ˌäntrəprəˈnərˌSHip/
noun
​the activity of setting up a business or businesses, taking on financial risks in the hope of profit.
"the new business opportunities have encouraged entrepreneurship on a grand scale"
Entrepreneurship could be broadly described as the "capacity and willingness to develop, organize, and manage a business venture along with its associated risks, for the primary purpose of earning a profit." Economics has another way to define it, referring to it as the "process of discovering new ways of combining resources, such as land, labor, and various natural resources, and capital, to make a profit." When one is about to engage in business, he or she is said to be practicing entrepreneurship or and entrepreneur. 
Entrepreneur of a startup looks for a problem to solve. Being innovative is certainly one of the traits that is needed to push the venture to the next level. There is a difference between innovation and invention, as innovation is an improvement or significant change to an already existing product while invention is the creation of a product or a process for the very first time. Creativity is also needed to bring the innovation to the customer. 
The beginning of Airbnb is a great example of how innovation and creativity were used for a startup. Brian, cofounder of Airbnb, solved the problem of guests of a design conference in San Francisco not having enough hotel rooms. His cofounder, Joe Gebbia and him decided to offer 3 air mattresses along with a complimentary breakfast in the loft of their apartment. A simple website was set up and conference attendees stayed at their place for $80 a night. 
At the time, they know this business model was profitable but investors were not willing to invest and asked them to work on something else. in 2008, everyone was talking about Barack Obama. At the Democratic National Convention, they had moved him from 20,000-seat Pepsi Center to an 80,000- seat football stadium. There was a problem of too many guests and not enough hotel rooms at the moment. The cofounders of Airbnb seized the opportunity and had the guests stay in Airbnbs. They signed up hosts in Denver right before the conference and got people to stay. They also offered McCain and Obama cereal at $40 a box to raise money for their venture. 
Picture
The Airbnb startup hustle was the perfect example of creativity and innovation. They found a problem to solve and saw the market trend and captured the opportunity of Democratic National Convention for traction. On top of it, they used the election opportunity to sell cereal boxes to raise money. Airbnb is also an innovation as Couchsurfing, hotel rooms, and homes already existed, and they built on top of it. make it work together. 
At a coworking space such as Treehouse Society, you can be on top of market trends as you talk to many different types of people here. Have them test out your idea, get feedbacks, so you know that your solution work. 

Related: How to Test Your Startup Idea in a Coworking Space
0 Comments



Leave a Reply.

    Picture
    Take a Tour

    Categories

    All
    Artificial Intelligence
    Blockchain
    Coworking
    Creativity
    Cryptocurrency
    Cybersecurity
    Economy
    Education
    Entertainment
    Entrepreneurship
    Environment
    Fashion
    Freelancing
    Gaming
    Gen Z
    Gig Economy
    How To
    How-to
    Innovation
    Management
    Member Spotlight
    Mental Health
    Music
    Nonprofit
    Personal Finance
    Podcast
    Privacy
    Product Development
    Productivity Hacks
    Relationship Building
    Remote Workers
    Self Care
    Self-care
    Sharing Economy
    Small Business
    Startup
    Streetwear
    Travel
    Writing
    Zen

Location | Book A Tour

What Our Members Are Saying

"Clean and modern facilities
Business grade internet
A real community vibe"
730 Commercial Street
​San Francisco, CA 94108

    Contact Us

Submit
  • Home
  • Get Support
    • Adult Coloring Pages
  • Get Space
    • Membership for Students
    • Coworking Space >
      • Coworking Membership Application
      • Take a Tour
    • Private Office >
      • Private Office for 3
      • Private Office for 6
      • Private Office for 7
      • Private Office for the Week
    • Event Space >
      • Event Space Application
      • Parking, Directions, and Pro-Tips
    • Meeting Rooms
  • Get Skills
  • Blog
  • Trial Week
  • Donate Now
How may I help you? ×

Connecting

You: ::content::
::agent_name:: ::content::
::content::
::content::