Friday 21 January 2011

How to be Entrepreneurial in 3 Steps

Step 1

Spot superior (sustainable profits) opportunities by identifying a real customer problem that is causing them pain (then they will pay for it), develop your solution and then sell it to everybody else. Protect it via patents or IP if required.

Step 2

Marshall the resources to take up the opportunity. Pick the people or partners capable of helping you take the opportunity. Don't compromise. Sell the opportunity and the strength of your team to investors to get the cash.

Step 3

Build the capability of your business to deliver the opportunity. Do this via trial and error pilots, learn from them quickly then go to the next stage - work at pace.

Every successful entrepreneur I have ever met follows this process - so learn from those who have been and done it.

Entrepreneurship, done!

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