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A Short Understanding of Creative Entrepreneurship

Perhaps childhood is the only stage of life where we do not think about owning a business and becoming a successful entrepreneur, otherwise this is a silent aspiration we think about all the time. Entrepreneurial spirit is hidden inside all of us and we all want to take it out in our own ways. But are we not always bogged down by one pertinent question: how and where to start from?

A Short Understanding of Creative Entrepreneurship

There are many types of entrepreneurship, namely creative, social and typical business. Creative individuals think of setting business using own or other’s intellectual power. And friends, things do work for creative folks as well; breaking the usual norm that only hardcore business people can set up business ventures and others have the task to stare at them. If we talk about sans internet days, only business entrepreneurs existed, though there were creative ventures too but the numbers were few like publishing houses or art and painting galleries. Since the advent of internet, things have become known and closer to common folk or say everyone and as an upshot the evolution of entertainment and media was inevitable. This has empowered many to follow their dreams, ditto for creative entrepreneurs.

Creative entrepreneurs are part of creative industry, where a range of activities take place to generate information or an engagement entity using various talents. Creating buyer – seller demand supply cycle by exploiting talent creates a creative economy. One notable feature of this industry is that it is recession proof and the general enthusiasm of public augments its growth, but in later stages. Earlier it was taken at the stake of high risk; people were considered bohemian who involved themselves into it. However, with success of films, music and radio across the world, things began to change and now courses are created and offered to students worldwide. Through these courses, people learn the fundamentals of this industry and a whole new variety of market is available for them to work in.

Renowned Economist, Richard Earl Caves, proposes a theory for creative industry and its people, where he conveys that creative artists hugely differ from their counterparts engaged into typical business in substantial and systematic ways. Based on his theory, he proposes some underlying features about creative industry:

1)Time is sum and substance
2)Products are different and unique
3)Demand is unsettled
4)Creative persons are sensitive to their products

As per the 18th century French definition, a successful entrepreneur is someone who unlocks capital attached to land and redirects it. While Richard E. Caves says creative entrepreneur is someone who uses creativity to unlock the wealth that lies within them. A creative person knows if his/her creativity is managed rightly and on time, there are sure chances to make great fortune off it. This may seem idealist but has worked miraculously for many in 20th century and growing like ‘a rise of a phoenix’ in the 21st century.

Richard Caves’ theory for creative industry and its people allegedly draws a distinguishing line between artists and gatekeepers (art dealers, agents promoting or buying artists’ works). They both belong to creative industry but differ drastically in intensity and intentions. Gatekeepers usually weigh an artist’s work on the scope of commercialism. If the work has no charm for the market, it will be put down. Due to this quality gatekeepers are never considered a vital part of creative industry, though they remain present but work mostly as secret agents than stage actors.

Further, it has been observed that every creative working person dreams to start their own venture one day in the field they are working. Before setting on the paths of entrepreneurship as a creative person, one should know what the eligible fields are and how to become entrepreneur in them.

Film and Music: Actors, singers, directors, lyrist, etc. are involved in this segment. After reaching an apogee of fame, start their own production houses.

Blog – A Short Understanding towards Creative Entrepreneurship Writers, columnist, poets, etc. think of opening up their own publishing houses or stores.

Graphic Designers: They are also known as modern or computer painters. This is relatively a new field added in the creative industry. Veterans go on to find mega designing agencies.

Though there are millions of people involved and working in the creative economy, however they are working either as freelancers or are self-employed. Only a handful of people think of creating an entrepreneurial venture, the basic reason being the lack of time-honored support from society.

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