(Photo by Anitra Wolf) Dr. Neal Thornberry of Babson College illustrated how the iPhone improved upon the Blackberry's hand-held technology system. Thornberry was in town Thursday to speak at an entrepreneurial event sponsored by the Iowa Lakes Corridor.

"Getting the idea is only half the battle; you have to implement it," says Dr. Neal Thornberry of Babson College on the topic of building entrepreneurs. "There is a huge gap in understanding between what an idea is and what an opportunity is. The secret of being an entrepreneur is knowing the difference."

Thornberry was one of three speakers at an entrepreneurial leadership seminar Thursday afternoon at the Clay Regional Events Center. The conference was held in partnership with the Professional Developers of Iowa Spring Conference June 4-6 in Okoboji.

Thornberry illustrated that ideas turn into opportunities when they are identified,

shaped and implemented. Opportunities include the idea's durability, sustainability, profitability and unique value for a customer segment.

"Eighty percent of entrepreneurial starts fail," said Thornberry. "Why are the statistics so stacked against the entrepreneur?" His answer was that often, new businesses fail to flush out the idea's ability to be durable, sustainable, and profitable in a market segment.

"All entrepreneurship involves innovation, but not all innovation involves entrepreneurship," Thornberry said. "The difference is in the implementation. The excitement of innovation needs to be followed by the hard work of entrepreneurship."

Thornberry used storytelling techniques to illustrate his points, giving one example of a class he took in college where he was required to read the play "Waiting for Godot." The play follows two people having a conversation in France as they await someone to come fix their community.

"At the end of the play, the guy never comes," said Thornberry. "A lot of people in an organization 'Wait for Godot' when it comes to innovation and entrepreneurship."

Thornberry urged attendees at Thursday's event to examine their ideas and see if they are opportunities for entrepreneurship. Then, create a plan.

"If you don't know where you're going, any road will take you there," he said, quoting the Cheshire Cat from Alice in Wonderland. "You need a strategy."

Other speakers at the afternoon seminar were Erik Pages, founder and owner of EntreWorks Consulting in Alexandria, Va. and David Hensley, director and faculty member of the University of Iowa's John Pappajohn Entrepreneurial Center. Pages and Hensley built on Thornberry's ideas and discussed how the Lakes Corridor could work to make itself an entrepreneurial hotspot.