21/09/2021
Success in Entrepreneurship : Beyond Passion And Ego!
Entrepreneurship is fun if one is prepared for it. It entails failures on multiple dimensions before success is achieved. Starting up involve burning one's fingers...like a baby learning the lesson of what fire is. It's a necessary and enduring learning curve.
To succeed in Entrepreneurship, you have to learn smart business skills and go through mentoring beyond having the passion for your enterprise . It takes sweat, discipline, faith, and perseverance to succeed.
To startup right and smart, you have to answer some critical questions. Your first question is What problem am I solving with my venture or business? Second, do a significant population of people experience the problem? If they do, then they need a solution. Third, what segment of the population need your solution? Fourth, what alternative solution exists in the market and how effective is it at meeting the needs of the population segment (target customer)?
Fifth, How can you deliver your solution to the customer that gives them better value (satisfactory experience) relative to what they currently experience? (The unique value proposition or USP), etc. These critical questions are called the customer problem /market survey.
The answers you get from these questions provide you the customer insight, market data, et al, that help you design your innovative solution, your value proposition, your business or profit model, your business mission and vision, your go to market (launch) strategy as well as the growth strategies...financial, operational, brand, team, human resources, etc. It's a whole bouquet and requires more than passion and the ego to own your own business.
Entrepreneurship succeeds on mission, vision, customer insight, market intelligence, innovation, smart value proposition, smart business model, smart strategies, team work, smart attitudes .. failures, faith, focus, etc.
Entrepreneurship is a long distance journey. It is never s
