The purpose of entrepreneurship: To make money! Actually, to “add value to a supply chain through creation or capture.”
The dollar art above is relevant because it gives me segue to one of the most well-known entrepreneurs of our time: Steve Jobs. Did Jobs invent the iPod? No. But he took the researched technology and focused on making a difference for his target customers and to his investors. Simply put:
- Research and Development (R&D) converts money into technology.
- Innovation converts technology (products and services) into money.
Entrepreneurs are concerned with the latter buzz-word: Innovation.