What are some critical aspects to remember 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. Its about building a functional system around a product, service, or idea that delivers value to others.

You Are Biased

• Dont 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. Its 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.