I want to share some more “Lessons” in entrepreneurship. I like # 2 and #4 for different reasons. Niche means that the entrepreneur understands their target audience moreover they know what specialized product or service to offer the customer. You should play to your strengths in other words leverage your knowledge and skills to win in the marketplace. In conclusion, those two lessons will help if your a startup company or existing company.
Readers here is a special excerpt from my free e-book titled “How To Start A Business The Simple Way”:
WHAT IS A BUSINESS?
A business can be seen as any sort of activity that offers products and services with the sole aim of making profits. For example, a bank provides services while business like Apple sells products.
WHO IS A OWNER?
The owner is an entrepreneur who recognizes a business opportunity, is a risk-taker and is ready to bear the risk of starting and running a company. To become a business owner, one needs to understand what makes up a business or entrepreneurship.
WHAT MAKES UP A ENTREPRENEURSHIP?
Businesses Innovation involves introducing a new product or service, adopting new technology or technique, offering a new process, introducing a new market, enhancing or producing new products to the market. So the Innovation is crucial for a company to thrive in the market especially when there are competitors who provide the same products or services. Innovation leads to improved ways of Identifying better revenue opportunities, generating revenue, etc. Innovation increases the value of your enterprise.
Running the Company
This involves pooling a lot of resources and merging them to manufacture goods and services to make a profit. The profit that is made should be used to purchase advertising , equipment, or employees for the company.
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