How can an entrepreneur build an effective strategy based on innovation that will lead to a sound technology venture?

Many people believe that those who are quick to act will win the race while the slow and deliberate will trail behind. The decision to be the first mover needs to be addressed by all entrepreneurs. Using an idealized model of window of opportunity, the entrepreneur can decide when to act. The entrepreneur needs to maintain a sense of urgency but avoid being too early or too late to market. Entrepreneurs also seek to build an innovation strategy that involves new technologies, ideas, and creativity, which lead to invention and ultimately commercialization. An innovation strategy is part of most new firms' road map to success. A firm that encourages creativity and inventiveness can create the ingredients of sustained innovation.

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Other Materials

Fresh Start 2002: Weird Ideas that Work
Innovation is key to success, and people want it to happen in their organizations. Yet, so many find it difficult to part with deeply ingrained beliefs and practices about how to treat people, make decisions and structure work. Sutton brings to light how to generate and capitalize on new ideas by doing what is counter-intuitive.