Creativity in Entrepreneurship
Creativity in Entrepreneurship
In the era of disruption, creative, thought-provoking and out-of-the-box ideas stand out from the competition, and are often rewarded. When it comes to the lack of productivity in the local SME scene, the Singapore Business Review urges Singapore to use creativity “as a weapon to boost productivity and value”i.
Here’s how you can encourage creativity and productivity in your business:
Step out of your comfort zone
Unfamiliar settings can often lead to new ideas and inspiration. While staying within your comfort zone offers a “steady level of performance, in order to maximise performance…we need a state of relative anxiety”ii, which is usually obtained only when we step out of our comfort zone.
As Forbes’ Margie Warrell explains:
Try your hand at creating
Entrepreneurship is founded on new, creative ideas. Try getting into the habit of creating new material and content through a medium of your choice. Consider brainstorming over a latte and easel at places like Cups and Canvas.
If you’re not confident about creating your own work from scratch, options like adult colouring give you a similar creative outlet. Not only is adult colouring a proven creativity enhancer, it also comes with other benefits such as increased focus and stress reliefiv.
Create a conducive office space
Although an open office space might seem like the logical solution to induce creativity, research shows that it can be counter-productive. Collaboration is a must for innovation, and is encouraged by open spaces, but employees also require privacy and focus to put their creative ideas into play.
This small portion of engaged employees “balance collaboration and interaction with colleagues at the office and are working remotely to achieve the privacy they need for some of their individual work.”v For maximum productivity, strike a balance between open areas that inspire, and private spaces that give your team a quiet refuge to create.
Connect with other innovators
Riffing off like-minded people is a good way to get inspired. If you are in a co-working space, take advantage of the innovative environment and interact with other entrepreneurs. You could end up with new ideas, tips or even partnerships
Keep an open mind
For a business that’s truly creative, it is important not to limit the innovation to merely products and services. Thinking outside the box in terms of how you run your business can also be an indelible source of productivity.
For example, instead of renting office space, opt for a coworking location instead. When looking for solutions for your business needs, consider creative option to reduce costs like StarHub’s Business Kickstarter pack. This comprehensive toolkit gives budding businesses mobile deals, eShop builder, Office 365 essentials and more from just $1.
In his article on using creative to solve business roadblocks, SBR’s Jeremy Han suggests rethinking what is deemed “impossible” as just something that is merely unprecedented. He advises SMEs to actively invest in nurturing creativity, citing people like SME boss Brunello Cucinello, who sponsors staff visits to cultural events. Although this might not work all SMEs, ensure that your own business provides enough flexibility for creativity to blossom.
SME Risk Management for sudden emergencies.
Internet downtime alone costs SMEs up to $100,000.