Open Entrepreneurship is sharing and collaborating on innovation

Open Entrepreneurship

Open Entrepreneurship is an platform for open and free knowledge sharing. It initiates collaboration between entrepreneurs, innovators, companies, business leaders, students, universities and scientists. Open entrepreneurship inspires the future entrepreneurs of the world, by organising the world’s open knowledge on entrepreneurship and innovation. Open entrepreneurship encourages crowdsourced entrepreneurship, free and open sharing of information and experience in entrepreneurship. It also helps other entrepreneurs realise their dreams and visions. The ultimate goal of Open Entrepreneurship is to help solve our problems, and create a better world together. Open Entrepreneurship is both for SME’s and big business, as well as the lone minipreneur or visionary working on a grand idea.

Why and how does Open Entrepreneurship operate?

It is difficult for any single entrepreneur to implement a great idea alone. In order to address this specific problem, Open Entrepreneurship was created as a term, concept and web platform. By having an open approach to information sharing and focus on teamwork, it is possible to create open teams around ideas, while creating ways of building those teams in an open way so that everyone can still choose to take part in the economic return from the efforts. Open Entrepreneurship can also be non-profit, where an open team of crowdsourcing entrepreneurs attempt to solve a problem together, each adding their unique skills, resources and network connections.

Stages and benefits of Open Entrepreneurship

As opposed to closed entrepreneurship, where entrepreneurial innovation is controlled and processes such as production, marketing, distribution, servicing, financing, and support are managed and monitored by the entrepreneur and the team he/she surround themselves by, open entrepreneurship taps into the wisdom of the crowd. Open entrepreneurship works as follows:

1. Entrepreneurial professionals showcase new ideas and innovations using the open entrepreneurship forum/platform
2. In the process of the entrepreneur sharing the information and knowledge related to his idea/venture, they receive feedback, and collaborative contributions along with building their professional network.
3. As knowledge and information related to the idea is shared and collaborated, the idea develops, is refined and the right resources are identified and contributed.
4. Open entrepreneurship allows ideas and concepts to evolve and emerge through participation and contributions of a diverse audience.

At the core of open entrepreneurship is information, knowledge sharing and collaboration between creative, innovative and entrepreneurial minds. There is a market of knowledge which is not proprietary to any person, group or organisation. If entreprenurs and innovators can leverage the expert knowledge available to them through open entrepreneurship, the idea/venture has a much higher chance of being a success and being delivered to market in a very short time-frame. The knowledge that exists for the current innovative product/services on the market is held among the employees, suppliers, customers and competitors. If entrepreneurs and innovators do not use the knowledge they have inside the business, someone else will.

Any entrepreneur should only use open entrepreneurship to post ideas, new products, or services when they are comfortable with publicly contributing them. The open entrepreneurship concept is related both to Open Innovation, and the Open Source movement, but has its own properties that separates it from those two concepts.

If you want to know if Open Entrepreneurship could benefit your business, you as an entrepreneur, then contact eCubation today for a FREE consultation.