When one is passionate about a subject and also has a vocation, profession and mission, and all converge with each other, it can be said that one has a life purpose. This happens to me with the topic of entrepreneurship. It has been my love and my hatred, never elusive, it always bothers me because I cannot help but love it even though it has hurt me. It is not a toxic love. It is a love that has forced me to grow, to improve myself, to want to learn more and be better. And part of that I want to share with you.
In my entrepreneurial career, I have dealt with countless challenges. All types. From a lying employee who corrodes the environment to the corruption of officials who are going to make controls to take a little from here and there. All these are not compared to what it has implied to face defining the style of entrepreneur that I want to be. There are entrepreneurs of all kinds: merchants, who buy low to sell at market prices; the micro, small, medium and large. Those that were self made starting from scratch. The creatives who saw a need and created a great solution. Entrepreneurs who love to keep creating and keep growing. Anyway, there are many more ...
To answer that question requires an effort of deep self-knowledge. Because of course no one can create competitive advantages in many areas of their life. Each person will have 2 or 3 strong areas that are worth knowing, growing and exploiting.
All of the above to tell you that I have criticized myself a lot as an entrepreneur because after many years I had not found my style. I had an idea that my style revolved around the creation of sustainable companies, no matter what sector they belong to. That is to say, I am interested in the company, not so much in economic activity, from the way it was conceived and later managed and re-powered. And of that company its conception catches my attention. In other words, I am an entrepreneur in the detection of needs and the creation of solutions in competitive business schemes. That's what I am as an entrepreneur. I study and apply knowledge every day to keep improving in that area.
I am not the only one who has felt an affinity for this aspect of entrepreneurship. The business models that revolve around this interest are the so-called Incubators, Accelerators and later the Venture Studios. Of the three models, the last ones are the most complete model and I am going to mention the reasons why?
Among their activities, Venture Studios have the following:
Involve capable people.
Detect the need.
Create solutions.
Generate a lot of value in the solution.
Ensure the creation of the ideal solution for the market.
Create a scalable business model for this solution.
Engage more capable people.
Grow the solution to its full capacity.
All this mixing processes that start from the observation and study of the potential client to informal methods of brainstorming to return to a validation of hypotheses with statistical standards to validate their results. Not to mention that the recruitment is based on the state of the art for the best talent recruitment on a global scale. In the end it is a coordinated work of teams of talented people very well focused. Venture Studios double the return on capital when compared to the other options.
I believe that there is no better way to be a professional entrepreneur than to adopt the Venture Studio model at whatever scale is possible. On a personal level, this is quite similar to being an excellent Project Manager specialized in executing projects for business development. I took this option, I loved it and I recommend it. This option is available to everyone. I say this because Google created its certificate in this area of knowledge and made it available at Coursera.org, in this educational platform they grant scholarships if you don't have the resources. It is not the only company that has done this. The International Red Cross has its Project Management course available on its virtual education platform (https://ifrc.csod.com/client/ifrc/default.aspx), totally free and certified. The latter with a focus on humanitarian projects but the essence is the same. Anyone interested in advancing in their profession as an entrepreneur should consider it and analyze if it suits them. The creation of a Venture Studio can remain as the guide to follow.
More information?
Learn more about a Venture Studios by following the Polymath Ventures story at https://polymathv.com/venture-studio-model/.
Learn a little about the difference between an Incubator, an Accelerator, and a Venture Studio in this Harvard Business School case study: "R / GA: Corporate Venture Studio vs. Accelerator" by Andy Wu, Grant Son, and Aastha Thakkar.
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