The Two Paths of Entrepreneurship: How Curiosity Shapes Every Great Business

November 11, 2025

The other night, my ten-year-old daughter and I found ourselves in a conversation about interest rates and credit, not exactly the typical bedtime topic, but that’s how things go in our house.

I explained how credit works and how banks earn money from it. Without hesitation, she asked,

“Then why don’t more people own banks if they make that much money off people?”

I couldn’t help but laugh and told her, “We should’ve come up with it before J.P. Morgan made banking big business.”

Her question was simple, but insightful, the kind that cuts straight to the heart of how systems work. And that’s the foundation of entrepreneurship: curiosity. It doesn’t start with having the perfect answer, it starts with asking the right why.

The next evening, she was back with another idea. This time, she wanted to redesign the traditional bra with something more comfortable that could work with both t-shirts and strapless dresses. The product already exists, of course, but she wasn’t thinking about copying it. She was thinking about improving it.

That simple act of observation and improvement is exactly what separates great entrepreneurs from the rest. It’s also when I realized there are really two main paths entrepreneurs tend to follow.

Path One: The Creator

Creators are the visionaries. They are the ones who introduce something the world hasn’t seen before. Think Steve Jobs, Elon Musk, or Sara Blakely. They have a knack for identifying unseen possibilities and transforming them into products or movements that shift entire industries.

But even visionaries are students first. They spend years observing behavior, analyzing what frustrates people, and noticing emerging needs. The iPhone wasn’t just a product of creativity; it was the result of intense curiosity, detailed research, and disciplined execution.

Path Two: The Improver

Then there are the improvers. The entrepreneurs who study existing ideas and make them better.

Sam Walton didn’t invent retail. He optimized it.

Ray Kroc didn’t invent hamburgers. He scaled them globally.

Canva didn’t invent graphic design. It made design accessible to everyone.

Improvers focus on efficiency, usability, and refinement. They look for gaps in pricing, quality, or accessibility and bridge them. Their advantage is deep understanding. They research what’s already working and identify how to make it work better.

The Common Thread: Research and Observation

Whether you’re a creator or an improver, success relies on one skill which is the ability to study deeply.

Entrepreneurs who research consistently, who take time to understand markets, people, and timing, are better positioned to adapt and innovate. Research doesn’t limit creativity, it channels it. It gives shape to intuition.

Warren Buffett and Charlie Munger understood this well. Their partnership wasn’t just built on shared ambition; it was grounded in study. They spent decades analyzing business models, leadership decisions, and economic trends. And just as important, they surrounded themselves with people who challenged their thinking.

That’s an often-overlooked part of entrepreneurship: the company you keep. You grow faster when you’re surrounded by people who see things differently, the kind who ask new questions, not just echo old answers.

A Lesson for Every Entrepreneur (and for My Daughter)

I told my daughter, “You don’t have to be Warren Buffett to build something great. You just have to keep asking good questions and never stop studying.”

Because curiosity and research go hand in hand. One sparks the idea; the other gives it direction.

Entrepreneurship is less about luck and more about learning. The greats, whether they were creators or improvers, were all relentless students of business, human behavior, and possibility.

And that’s something anyone, at any age, can practice.

Thinking about launching a business or refining your next big idea? Let’s connect.