Creating Extraordinary Value

An idea is a point of departure and no more.

—Pablo Picasso

Aren’t entrepreneurial ideas a dime a dozen? Is the perception of the possibility of creating extraordinary value less important than the actual creation of that value? Can we call something entrepreneurship if no value has been created?

In other words, do entrepreneurs get an A for effort?1 Few can resist the proposition that the activity of value creation is at the heart of entrepreneurship, although I have seen raised eyebrows when the word extraordinary qualifies it (I will get to the extraordinary part in Chapter 12). The words value and creation are simply too positive, even catchy, to question.

Not so fast: value creation is about outcomes; ...

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