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10 Things Entrepreneurs Can Do to Improve Odds for Success

Feb 26th 2015 at 11:36 PM

When first starting a business, entrepreneurs often make mistakes. Some mistakes may cause even a good idea to fail, because the entrepreneur doesn’t have something s/he needs: Mentorship from experienced business leaders. This can happen through direct mentoring or reading how-to books and articles. In this article I will share 10 important things entrepreneurs should do to avoid learning their lessons the hard way. Let’s get started.

First, discover the problem. As an entrepreneur, you should research to discover the “unsolved” problems that people face in your industry, and then find solutions to address those problems. You should not assemble a product or service before you figure out what problem it will solve, or what need will it serve. First, look to fulfill people’s needs. Many entrepreneurs fail because they approach their business this way – backwards. The key thing to remember is people don’t buy your products or services, they buy the benefits of your products and services. They pay to have their needs met, their problems solved. So identifying the problems people face is the first step to taking your business in the right direction. This approach has led many businesses to succeed since the beginning of commerce.

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