5 Rules for Entrepreneurship

1 – Find a need and fill it. It seems obvious, but so many companies and individual entrepreneurs just to not follow this most clear rule. Sometimes, however, they do manage to create a need or desire with the product itself. But most often, the customer has a need and requires your product or service to fulfill that need. There are always needs that have to be filled, and, if your company can supply that needed service or product, it will do even better!

2 – Find a problem and solve it. Like your customer's needs and wants, they also have problems. If your company can solve that problem, they you will likely succeed. It's linked very closely to their needs. For example, a customer needs more money. The problem is a lack of money. Your financial education system will fill that need and solve that problem! If a customer needs more time, the problem is a lack of time. Your time management system will fill that need.

3 – Focus on the customer. How many companies have fallen away from this one? And how many are starting to fall away? Very recent surveys have shown that customer service is the most important part of a business. Without a customer-focused program, the company will likely get a bad image, and lose customers, and it will likely have some financial setbacks … You get the idea. Without customers, the company can not even stay open, let alone do anything.

4 – Put your time, talent, energy, and your whole heart into producing a product or service they will buy. If you do not already have an established company, of even if you do, you must always remember to invest into the business. Not always financially either. Invest your time and energy into making what the people want, need, and will use to solve their problems. Put your heart into the company, and the company will put the dollars into your pocket. You would be surprised at how many business people just do not put enough time into their companies.

5 – Start small. It's great to keep your dreams big, and your successes bigger, but you just can't start your company or a new product with a large output. Start off small. Small test runs. Small production amount. Small output of money. You will save a great deal of time, energy, and money than had you started out big and failed dramatically.

Source by Arthur Langton

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