We use the phrase Entrepreneurial Thought and Action (ETA) a lot. So, it is probably best to define what we are talking about.
In short, it combines the old and the even older.
ETA is comprised of two parts.
Part 1 is the Prediction Reasoning we have been trained in since we attended kindergarten. This is a belief that the future is going to be like the immediate past. We know how many people are alive now (about 6.8 billion.) We know how many of them are in the 20s and 30s, when most people decide to have children. And we have a good handle on recent trends in population growth—it’s slowing as people worldwide are, on the whole, deciding to have fewer kids. But, it is still above the “replacement rate” needed to keep our species alive.
Studying all this data—and much, much more—you can, as the United Nations did recently, say with a high degree of certainty that come the year 2050 there will be 8.9 billion people on the planet.
That’s Prediction Reasoning at its best. As a society as a whole, we have gotten really good at Prediction Reasoning. To support this kind of thinking, we have developed great analytic tools (statistics, probability, computer simulations, etc.).
But the problem is not everything can be predicted. And that is true whether we are talking at a business level (Will there be enough customers for this new product or service I am starting?), in the nonprofit world (Will this program really help?), or at a personal level (Does that cute guy really like me?). You can’t predict when faced with fundamental uncertainty. You need an alternative. Luckily, you already have it. It is the reasoning you used through your toddler years.
As a child, everything was unknown or uncertain, so you started learning through action. You’d make a sound and something happened (your mother responded). You pulled the cat’s tail (and got scratched). We acted our way into thinking.
We call that CreAction—a combination of creation and action. CreAction is Part II of Entrepreneurial Thought and Action®.
When predicting makes sense (you need to know how many gallons of water people are going to drink next year), then predict.
When you can’t predict the future with any level of certainty (Is the world ready for my new idea?), then use CreAction. Take small, smart steps toward your goal.
Employing prediction or CreAction when it makes sense based on the situation is the definition of Entrepreneurial Thought and Action.
I can’t tell you how excited I am about your work!
After a 7 year stint in the corporate world I’ve spent the last 16 years giving aspiring entrepreneurs steps and tools to help them figure out ways they can profit from their passion. Over the last 5 years over 150 people from 11 countries have taken my Profiting from Your Passions (R) Career Coach training based on a coaching protocal that emphasizes mostly, but not exclusively, the creative ideation phase of monetizing interests/skills.
My goal is to help everyone see the world through the eyes of possiblity… to become Opportunity Detectives! Your action piece is a wonderful compliment since as you so brilliantly point out acting on on something not easily predictable is an enormous stickler. I’m thrilled you’re doing in this area.
In my own work with women and the impostor syndrome I find that misguided notions about what it takes to be an expert, perfectionism and other confidence issues loom large as action stoppers. I’m wrapping up a book on the subject with Crown Publishing now. Although not exclusively aimed at entrepreneurs I use a lot of entrepreneurial examples/mindset and am happy to share my work (www.impostorsyndrome.com) if you would find it helpful.
Congratulations again. I’m excited about attending a future seminar.
Dr.Valerie Young
Dreamer in Residence
ChangingCourse.com
I’ve just completed chapter 1 of the book (after hearing Len speak at the 2011 Global Leadership Summit – he was terrific!), and the ideas are very exciting. As a life and career coach, I can’t wait to share this knowledge with my friends and clients. I’m looking forward to the rest of the book and catching up on the blog posts.