What Entrepreneurs can Learn from Nobel Prizes

A Blog Around The Clock has a great article called: The Nobel Prize conundrum.

In the article, one of the Editors of the Public Library of Science talks about how most people do the wrong when confronted with Nobel Prize winners: they start working on whatever won the prize.

The problem with that, according to the article, is that its filled with cut-throat labs with cut-throat scientists who are trying to scoop each other and perhaps fudge results to get funding and get published.

On the other hand, the Nobel Prize winner were usually working on projects, animals and techniques that no one cared about or even heard about. And that’s why they could take the time to ask the right questions to find some very interesting conclusions.

The same holds true for businesses and entrepreneurs. By the time a certain company has hit it big with a new technology, most other businesses finally start playing catchup and competing with each other for the remaining market share behind the leader.

But good entrepreneurs and innovators know that to really win in the market, you’ve got to be working on the new idea that everyone else thinks is idiotic and useless, but that you truly believe will work.

The number-one problem most organizations have is all about creating a sense of urgency.

John Kotter – a sense of urgency.