Critical Points About Entrepreneurship
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What are some critical aspects to remember about entrepreneurship?
Back to: STRATEGY, ENTREPRENEURSHIP, & INNOVATION
- Everyone likes to talk (or brag) about his or her great idea. 99% of these people will never do anything about it. Entrepreneurship is about doing let everyone else do the talking.
Entrepreneurs Are Generalists
- Entrepreneurship is not about doing a service or making widget. Its about building a functional system around a product, service, or idea that delivers value to others.
You Are Biased
- Dont depend on your own point of view when assessing your product or service. Whether you realize it or not, you have bias for your own idea.
Good Ideas Abound
- Ideas are a dime a dozen. They are everywhere and easy to find.
Direct Your Passion
- Are you passionate about your idea? Well, get over it. Its fine to like your idea it leads to high product or service quality. To build a strong business you have to be passionate about the process and goal, rather than a product.
Plan With Evidence
- The planning stage is equally as important as the execution phase - and it never ends. Assume nothing and compile evidence or support for everything.
Demand Is King
- Market strength (or rather demand) means everything. Strong demand is better than having a great product.