The Knowledge Entrepreneur

Citation

Keary, M. (2007), "The Knowledge Entrepreneur", Online Information Review, Vol. 31 No. 2, pp. 252-253. https://doi.org/10.1108/14684520710747338

This book is drawn from lecture notes that were used to encourage knowledge workers and professionals to become more engaged in entrepreneurial activities. It recognises that the spread of knowledge is no longer limited to library professionals, whose main aim is to achieve goals rather than to make a profit. Today they have to compete with entrepreneurially‐minded people who work in larger information‐related organisations, such as information, technology and software businesses, as well as entertainment, academic and public institutions. Librarians now need to develop good business skills, to be able to develop and implement business plans and to prepare proposals for knowledge‐based initiatives.

It is an easy‐to‐read book that is simply laid out, moving from the basics of knowledge entrepreneurship to establishing a business. If you are looking for reassurance that you have what it takes to be a knowledge entrepreneur/intrapreneur, this book provides an outline of character traits and core competencies to guide you. Models are used extensively throughout the text to provide more description to the elements that are identified.

The author suggests that focussing on trends is one of the best ways to identify future and potential sources of opportunity for the knowledge entrepreneur, and the way of identifying these are by monitoring various services. Some of these key trends include the use of ICT, which presents a major shift from print and analogue to electronic and digital. Thus, over time digital institutions are likely to transform the concept of a knowledge object away from books, documents, artefacts or artwork to a virtual experience or program, e.g. Amazon's “search inside” feature. In addition, ICT has become a global integrator for electronic standards.

For the knowledge entrepreneur the process of innovation and commercialisation helps to turn ideas and opportunities into actual products and services. It provides the means to control change, or say how changes can be implemented to affect decision‐making, and add valuable input to the knowledge economy. Thus, there is an increasing need for partnerships, i.e. libraries with other organisations, and the need to build good relationships externally.

The final four chapters offer basic guidelines on how to establish and increase a knowledge business or initiative, and how to land profitable or funded contracts. It describes techniques for developing a knowledge venture, with ways of setting up master and project plans, and advises on how to select a business structure that suits you best, together with the legal structures involved and how to finance the business. It also provides notes for preparing a proposal and marketing the product. The book concludes with useful summaries of those critical elements that are required for the success of a new venture, as well as case studies and key tips on how to turn ideas and opportunities into actual products and services.