Can you briefly explain what the conceptual age involves, and what the role of entrepreneurship is within that?
The knowledge economy brought about tremendous industrial discipline in the way enterprises were formed, scaled and sustained. We are seeing a fundamental shift in the way the knowledge economy is transforming into a more collaborative economy led by creative entrepreneurs.
Gone are the days when knowledge jobs guaranteed sustainable careers. The conceptual age demands entrepreneurial passion, combined with the right level of competence (with adequate knowledge in technology and business) and more importantly, combining with an art component in the overall thinking process.
As Peter Drucker would say, you do not have a business if you do not have customers. In the conceptual age, understanding customer needs has become more of an art than science. If you are selling a product, consumers are influenced by the way the product looks or is designed and presented to them.
What are some of the differences between what potential entrepreneurs should be aware of in the under-50 and over-50 age groups?
The under-50 groups tend to be more impulse consumers. With the advent of powerful social media tools and instantaneous tools to communicate with peers, this group tends to follow recommendations, and trends of their peer groups.
The over-50 group focuses on value propositions of products and services being offered to them. This group is also adopting evolving technologies and social media platforms. It is important for this group to see clearly how these products and services address pain points in their business and personal life.
What role has Peter Drucker played in your career, and how has it influenced your work as an entrepreneur and executive?
Peter Drucker has played an amazing role in my entrepreneurial career. I am truly fortunate to have followed Peter’s principles since an early age. In the 15 years since I was mentored by Peter, in hindsight, I do believe that I made many right choices. As a young entrepreneur, it is tempting to get your hands in multiple projects. I live by Drucker’s wisdom that “there is surely nothing quite so useless as doing with great efficiency what should not be done at all.”
Hard-won insights on grief, healing, health, wellbeing, and more via Elaine Mansfield https://t.co/XjbZ8VrHAz @ElaineMansfiel7
@MichaelJGelb Thanks for sharing my tweet about your new #book, Michael!
Many thanks for sharing my Not-too-late Summer Book List Curation for 2019, Wally! https://t.co/SFU5N2H10X
Peter #Drucker and Beyond: Living in More Than One World at 10; my new post on @LinkedIn https://t.co/rypUU42p2B @BKpub
@rahulkhachane Thanks for sharing my Drucker 'tomorrow is...' quote, Rahul!
Major congrats to @MichaelJGelb and @RajSisodiaCC on the release of their new #book The Healing Organization https://t.co/t3WNKAiVVk
Take the first steps to working with @wallybock on #writing your book https://t.co/S36foQ8xTJ
Many thanks for they encouraging words, Wally! https://t.co/COBZbWl1Wv
@wallybock thanks for sharing my #Drucker "Tomorrow is being made today...' #quote, Wally!
Peter #Drucker, 1980: “Tomorrow is being made today, irrevocably in most cases.” #quote