Inshan Meahjohn : The most important thing you need to know to become a good entrepreneur is that all your efforts have to be directed towards value creation. Theoretically, there are no rules to become an entrepreneur, but in the same time there are certain guidelines which can help you along the way to achieve the desired success faster.
1. Find a need and fill it better than anyone else
Human needs and wants are far from being limited. This gives entrepreneurs unlimited possibilities to create great businesses and achieve amazing financial goals. The only limit is how entrepreneurs use their imagination.
2. Find a problem and solve it
When you see a customer problem there is always an opportunity to start a business. People needed to find a way to store more music on a go than taking the whole CD collection with them. As a results, the Mp3 formats appeared from nowhere and now you can take with you the amount of music you want by using tiny gadgets. And boy, what huge industry is the digital music one.
3. Unlimited opportunities
There are unlimited problems. So there are the opportunities to solve them. Your duty as an entrepreneur is to find the problems and brainstorm for innovative ways to solve them. Find a way to supply a product or a service faster, cheaper, better, or easier. Make use of your own imagination.
4. Focus on customers at all times
The customers are the ones who will buy your products and services, they will recommend you and can be your brand’s ambassadors. Become obsessed by knowing what they want, need, what price is good for them, how they want us to deliver the product to them. You are in a job to serve customers in a stellar way.
5. Create your own path for success
One you come up with a problem or idea start working to transform everything in a profitable venture by doing small steps on a daily basis. Start with your time and dedication instead of burning a lot of money. Most of great personal fortunes in US and elsewhere were started with an idea and the sale of personal Services.
Most big fortunes were started by people with no money, resources or networks. They were started by individuals who had an idea and made a life purpose by pushing a product or a service that someone else would buy.