It is often assumed that entrepreneurs have “vision” – often described as the ability to look forward. But the most important part of vision may be different than what you believe.
Most entrepreneurs know where they came from – vision from the rear view mirror. And if they are successful, they have learned from past successes and past mistakes.
And I would argue that most entrepreneurs do a reasonably good job of looking ahead. They know how to postulate what the world will want over the near term. Some get it more right than others.
But the most powerful part of vision may be the ability to look side to side – to look into your “blind spots”. This is true in many ways.
As Kevin Kelly so capably describes in What Technology Wants – most invention is simultaneous. In other words – if you are thinking about it – seeing a need in the market place – chances are fairly good that someone else is as well.[1]
But the “side-to-side” view involves more than identifying potential competition. Side to side views also identify supporting technologies and consumer behaviors that make your invention or business model possible. Are they ready? Can they support your invention?
You might have a view of the world as it should be – or even will be. But if the supporting technologies are not ready – or if the world is not ready because consumers and business won’t and can’t change behaviors – none of it matters.
In 2006 our executive team saw the future of mobile – and acquired a mobile company. It was the right forward vision. However, a side-to-side view would have told us that broadband mobile technologies were not pervasive. We also could have determined that consumers were not ready, nor were businesses adept at leveraging mobile communication. That was 8 short years ago. We failed to maximize the investment.
By looking side to side we could have figured out that the market dynamics of supporting technologies and likelihood of consumer and business adoption were not lining up with our forward vision. Right idea. Right team. Wrong time.
I would argue that what distinguishes successful entrepreneurs is less about the ability to look forward, and to some extent behind them – but side to side. That is where the enabling technologies and consumer and business preferences can be found.
As an entrepreneur with a vision – where are you focused?
[1] For excellent resources on innovation here are three of my favorite reads: (1) What Technology Wants – Kevin Kelly; (2) Open Business Models – How to Thrive in the New Innovation Landscape – Henry Cheesborough; and, (3) Where Good Ideas Come From – Steve Johnson.
