Great Article I received by email...
By: Brian Tracy
Entrepreneurship is the art of finding profitable solutions to problems. Every successful entrepreneur, every successful businessperson has been a person who has been able to identify a problem and come up with a solution to it before somebody else did. Here are the five rules for entrepreneurship.
Find A Need And Fill It
First, find a need and fill it. Ross Perot, when he was working for IBM, saw that his customers who were buying IBM computers, needed help in processing their data. He went to IBM with this idea and they said they weren't interested, so he started his own business. He eventually sold it out for $2.8 billion dollars. He found a need and he filled it.
Find A Problem And Solve It
The second rule is to find a problem and solve it. A secretary working for a small company began mixing flour with nail varnish in order to white out the mistakes she was making in her typing. Pretty soon, her friends in the same office asked if she could make some for them. So she began mixing it on her kitchen table. Then, people in other offices started asking for it, and she eventually quit her business and worked full time creating what is today called Liquid Paper. A few years ago, she sold her company to Gillette Corporation for 47 million dollars.
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2 comments:
I don't think to be an entrepeneur do you have to do something first. You just have to do it better than everyone else. Obviously being first has its advantages but improving what others provide can work too.
I agree it has been done time and time again. Just look at facebook as an example. Was it the first social network? no it wasn't but look where it is today, over 600 million users. And it got there by being better than everyone else.
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