Friday, September 22, 2006

Entrepreneurship Is To Business What Speculation Is To Investment

You have a great idea, you research it thoughtfully, you invest yourself in pursuing success.

Is that being an entrepreneur -- or a speculator?

Yes it is. ;-}

Huge corporations are like huge investment firms. Its their way or the highway - they have no room or appetite for creativity. No one can say you made a bone headed mistake if you do what everyone else is doing. You compare yourself to other professionals in huge bureaucracies - and you did ok -- even if you failed.

A bureaucrat will understand "the operation was a success - unfortunately the patient died."

An entrepreneur embraces risk as a reality - and then tries to control it by flexibility, character, and creativity. So does a speculator.

If you have an entrepreneur's mindset you will not do well in a bloated organization - they tend to promote folks that are not threatening, average easy to get along with slugs with executive hair.

If you have a speculator's vision, you will be attacked and ridiculed by investment professors that want everyone to follow their instructions - just as they are following along with the rest of the sheep.

Speculation comes from the Latin Speculari - the basis of the word for eyeglasses - spectacle. It means to investigate, in this case with the realization that you will never, even after the fact, have conclusive evidence.

Speculation is to follow a system of reasoning trying to discover opportunity from within inconclusive evidence -- and then acting upon that reasoning.

Another factor is flexibility. As more evidence is revealed - acting quickly to change course if a change is indicated.

Your investment adviser assures you everything is ok, and you are stuck too long in a fixed venture.

Instead bring an entrepreneurial mind set to your investing - make strong well reasoned moves - and stay flexible. Listen to sound advice from many advisers, but make your own decisions - and change them as necessary.

Speculators and Entrepreneurs are cut from the same cloth - and both deserve honor as risk takers and producers that positively contribute to society.


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