Recap: week one

- Peter Thomsen

Time to sum up and recap the first week in Silicon Valley: So what have I learnt so far? The first thing that enters my mind is knowledge regarding the practical aspects of starting up at business. Through my studies in innovation and entrepreneurship at Aalborg University, many books and theoretical models have been deliberated. However the first week and the face-to-face meet-up with several real-life entrepreneurial experts have opened up a broad range of new perspectives. 

In many cases there appears to be a greater distance between the theoretical business start-up and the real-life case. Working with a business start-up myself I am very aware of the distinct difference between the theoretical and the practical aspects of entrepreneurship. Still I have always searched for solutions and inspiration in the entrepreneurial literature whenever the practical world was causing me trouble. Therefore my educational background has always played a large part in the aspirations to develop my own business. Not that this should be seen as an incorrect approach in any case, but just simply that theoretic entrepreneurial literature cannot be considered as the key to success alone. This might seem a little commonplace, but after a week of listening to different experienced entrepreneurs it has become even clearer to me how theory and textbook cases can be insufficient and might be the cause of a reduced elasticity of the newly started business.

One very important lesson I have learned throughout starting up my own business is that new courses often must be set, because obstacles frequently keep arising. This demands for large flexibility and rapid decision making, which furthermore often demands for creative thinking.

Listening to real entrepreneurial experiences during the past week has confirmed to me that the ability to think different and the courage to make decisions based on your own convictions is every bit as important as a solid theoretical groundwork.

Every business start-up is unique and therefore cannot be approached by a “one size fits all” mentality. This makes good sense considering that business success is closely linked to differentiation: in order to make money you need to be different and in order to be different you need to think different. No literature will do that for you. It might be the source of inspiration, but you are the one who can develop the true reality of your own business. You are the entrepreneur!