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Critical Points About Entrepreneurship

All Talk

  • 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.  It’s about building a functional system around a product, service, or idea that delivers value to others.

You Are Biased

  • Don’t 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. It’s 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.

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