The authors of this article contend that most doctoral students in the arts do not fully appreciate the meaning of their PhD, and that the current system of graduate education perpetuates this phenomenon, with each generation of professors passing down their understanding of the doctorate to succeeding generations. The authors argue that what is needed are not only new pedagogical and philosophical platforms, but a method by which change can occur in a meaningful and directed manner. In this article, they draw on aspects of "intellectual entrepreneurship (IE)" as a foundation and engine for change. Instead of simply illustrating the problems of PhD overproduction in the arts or proffering another editorial on the state of the academic job market, they contend that the philosophy of intellectual entrepreneurship presents significant opportunities for both fine arts graduate students and the universities that train them. Specifically, the authors re-envision the fine arts doctorate in the broader context of cultural leadership. (Contains 9 notes.)