Roman Semiokhin: The Importance of Creativity in Entrepreneurship

Roman Semiokhin: The Importance of Creativity in Entrepreneurship

When most people think of ‘creativity’, art, music, theatre or film typically spring to mind. Far fewer people associate ‘creativity’ with business. Creativity is viewed as being imaginative, whereas business is all about making money. At first glance, there appears to be little overlap between the two.

In fact, creativity is a vital trait for entrepreneurs to be successful in business. Start-ups are born when an entrepreneur spots a gap in the market, such as a novel or innovative way of responding to consumer needs. These individuals are able to think outside of the box by developing a completely new product or services offering, turning their idea into a reality and marketing it to consumers.

The Cambridge dictionary defines creativity as ‘the ability to produce original and unusual ideas, or to make something new or imaginative.’ Business leaders and creative thinkers are both visionaries who are not afraid of moving away from the beaten track to create something new.

Beyond launching a business with a unique selling proposition (USP), an entrepreneur will only be successful if they continue demonstrating creativity as the start-up grows. Consumer demands, competitors, and the business landscape are constantly shifting and changing, and business leaders must keep adapting and rolling out new products or services to keep their business relevant and competitive.

The COVID-19 pandemic brought this into sharp focus as it forced businesses to drastically change how they operated and come up with creative solutions in order to stay afloat. For example, many pubs started offering dine-at-home menus and home delivery, whilst in-person events companies moved their baking or pottery classes online. Some food and drinks suppliers that solely traded with the hospitality sector prior to the pandemic transformed their business models, selling directly to the public for the first time. Conversely, airlines such as Virgin, British Airways and Lufthansa started using their passenger aircraft to make cargo-only flights, transporting critical medical supplies against the backdrop of decimated consumer demand. Numerous businesses also adapted their production lines to manufacture other essential items, such as face masks and hand sanitiser. Entrepreneurs who responded creatively to the new business environment and pivoted quickly were the most successful during the pandemic.

Successful businesses openly recognise the importance of creativity within the workforce. For example, LinkedIn recently identified ‘creative thinking’ as the most in-demand skill today. A World Economic Forum report entitled ‘The Future of Jobs’ also found that creativity was among the top three most desirable employment skills, alongside complex problem solving and critical thinking. A creative mindset is needed for streamlining processes, boosting productivity and efficiency, identifying new ways of reaching consumers, and so much more.  

Roman Semiokhin is a business leader who is constantly innovating by finding creative solutions to problems and adapting to new circumstances. For example, Mr. Semiokhin has spoken of his plans to launch both an innovative educational institution and a medical facility, using state-of-the-art technology to provide effective teaching and first-rate medical treatments respectively. Roman Semiokhin’s creative approach and entrepreneurial spirit led him to launch his first business in the video rental industry at a young age. Since then, he has been involved in business ventures across several sectors, including education, gaming, construction, and tech.

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