Innovation vs. Entrepreneurship | Road to Revenue #52

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.6 • 1.9K Ratings

🗓️ 22 March 2021

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

What is the difference or variance between an inventor, entrepreneur and innovator? Inventors are those who create new products. Entrepreneurs create companies around the products or ideas of others and are focused primarily on building shareholder value. Innovators are those who create new ideas or ways of doing things. An innovator is someone who takes action or makes a dream into reality. An entrepreneur is someone who monetizes innovation. Know that you don’t have to be the innovator to be a successful entrepreneur. Two Reasons Why Companies Fail: 1. Entrepreneurs often forget the number one rule of entrepreneurship, which is to stay in business. Every day, each of these entrepreneurs should think about how to take care of themselves in order to guarantee that they’re in business the next day. 2. Entrepreneurs don’t understand the difference between innovation and entrepreneurship. Great entrepreneurs don’t have to have a creative thought other than, “How do I monetize my ideas?” Or, “How do I monetize somebody else’s ideas?” Tweet me @davidmeltzer your favorite takeaway from today's episode and come ask me questions live every Friday at 11:00 am PST / 2:00 pm EST. Text me at (949) 298-2905 or email me at [email protected] to join! Click here to follow the Road to Revenue playlist on Spotify Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey everyone, today's episode marks the one year of Road to Revenue Series and we're
0:05.2	going to talk about the difference between innovation and entrepreneurship.
0:10.6	We're going to talk about two of the best innovators in the world that you've never heard
0:14.0	of, turning probabilities into profit, and of course the number one rule of entrepreneurship.
0:20.0	Tweet me at David Meltzer, your favorite takeaway from today's episode, and check the
0:23.8	show notes to see how you can contact me at any time.
0:28.6	This is Entrepreneurs the Playbook.
1:58.6	Hey everyone, it is a milestone day.
2:06.8	We are exactly one year into the free online training from our normal scheduled over 20
2:15.8	year trainings.
2:17.2	Today's training is on Innovator versus Entrepreneur.
2:19.2	We're going to talk about all the nuances of innovation as well as entrepreneurship on
2:25.0	how to make money off of those ideas.
2:29.0	Also we have Season 2 being filmed, so starting that on Tuesday, we have expanded it out with
2:35.8	Bloomberg to an hour, so we'll have five classic vignettes where you'll really learn
2:40.6	about the entrepreneur, see their pitch.
2:43.0	So if you haven't tried out, please do next week's training, BYOQ, you bring the questions
2:49.0	I'll bring the answers, ask me anything Friday as well as Mondays.
2:55.0	All of it's available, Billionaires, Millionaires, Entrepreneurs and all the trainings on the
2:58.5	Playbook, and if you need anything, just reach out directly to me, David at demeltzer.com.
3:05.9	David at demeltzer.com will put that in the chat, last but not least before we get going,
3:11.9	put your questions in.
	...

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