Turning to academic literature for advice on what to do as entrepreneur, one would encounter the idea – ever more popularized – that entrepreneurs act best as scientists: they formulate hypotheses and systematically test them via a series of experiments. This view is grounded in our intuitive perception of science as formidable enterprise for revealing the mysteries of the world. Indeed, why wouldn’t a scientific approach dissolve the uncertainties we face as entrepreneurs?
Different worlds
Science thrives in explaining given, stable aspects of the world as it is. Physicists 200 years ago and today study the same elementary particles that make up matter, with their theories getting closer and closer to capturing the regularities of the world. In contrast, entrepreneurs pursue their aspirations in a constantly moving landscape. To a physicist, the world 500 years ago is the same as the world today. To an entrepreneur, the world just 5 years ago was a different world.
In a study just published in Journal of Business Venturing Insights, I argue that the entrepreneurs-as-scientists perspective provides a trivialized view of entrepreneurial practice. By reducing entrepreneurial action to decisions that can be modelled mathematically, it effectively presents a domesticated and thus unrecognizable conception of the future. A scientific mindset matters, but it is one part of a broader toolbox for the entrepreneurial journey.
Beyond knowing
Scientists aim to develop theories that fit the world. In contrast, entrepreneurs want to shape the world in line with their visions of different futures. At stake is how to respond to setbacks: do they signal that our theories are wrong or that the world does not yield easily? In other words, do we pivot or persist (while learning)? This tension cannot be eliminated.
The success of Dyson came on the back of 5127 prototypes and 15 years of perfecting the idea of a bagless vacuum cleaner and of finding a workable business model. At any point along the way, one could have reached a scientific conclusion to move away from the idea. But, beyond science, the eventual success of the Dyson company is also a triumph of engineering, art, and design. It was not just about getting things right, but also about making them work, making them new, and making them functional.
A versatile mind
Entrepreneurs should embrace science, art, engineering, and design. These are different creative roles that deal with different facets and challenges of the entrepreneurial journey. Sometimes, we need to think about what to make; and sometimes we need to make what we think. Sometimes, we need to re-imagine the world; and sometimes we need to adapt to its human practices.
Read the full paper here to find out more: https://www.sciencedirect.com/science/article/pii/S2352673424000167
Author bio
Dimo Dimov is Professor of Entrepreneurship and Innovation at University of Bath, UK. His research focuses on entrepreneurial thinking, process, and practice. He is co-founder of Kinetic Thinking, a validated framework for helping individuals, teams and entire organizations capitalize on the changing world of work by deploying new ways of thinking, managing and leading.
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