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Business Management analysis

Key values to become a successful entrepreneur.

The essence of what am I saying is, before a business could get its stand in the competitive market, the needed due process must have been followed.

Get this, many people have missed out the “due process” and the business we all find ourselves doing is like a life cycle, once you tend to miss out a process, the business cycle is likely to go back to the starting point, and you get to start building from scratch.

Anyone who lived within the time of legends like Ford, Alexander Graham Bell, Edison and Einstein might be forgiven for thinking everything, which may be invented already has been invented.

Of course, if we’d stopped there, we wouldn’t have the computer or the internet.

The past century of our history stands as a testament to human ingenuity and our persistence to form things better.

While innovation still is possible, much has changed.

Ford’s invention little question was heralded as something just in need of a miracle.

Today’s feature-laden minivans, hybrids and electric cars mean any new entrant within the vehicle market also will get to enable to flight if it’s to be seen as anything aside from an also-ran.

Competition is fierce and becoming even more so within the current climate.

This trend has forced entrepreneurs and business owners to evolve their views on innovation.

Innovation within the 21st century demands we retrain ourselves to seek out pockets of spaces within industries where we will create a more fulfilling experience for patrons.

Here is a few proven ways to leverage that inspiration to sustain or build businesses

1. Ease the burden of responsibilities.

Many people work quite one job to satisfy all their financial responsibilities. This makes it is difficult to juggle work and family duties.

Even so, this shift has created a business opportunity: the errand-services industry.

These businesses exist to make people’s lives easier. Services range from the exceptional to the mundane from dog-walking and grocery-getting to doing laundry, caring for elderly relations or performing concierge services.

All one needs to make a start in this industry is willingness to do whatever his or her clients or customer ask.

It shouldn’t come as a surprise to a find out what percentage people are willing to pay somebody else if it means reducing their non-work responsibilities. After all, skipping hours on the job typically will be costlier for them.

2. Upgrade a product or service.

In the Babylonian era, toothbrushes or more aptly, chew sticks were made by fraying the top of a twig.

In 1498, the primary true toothbrush was made by rooting Siberian pig-hair bristles into a handle (typically made from cattle bone).

The efficiency of recent electric toothbrushes would put all their predecessors to shame.

What’s the lesson?

Upgrading a product or service has been a viable strategy for a while. And so long as creativity remains, this breed of innovation won’t become obsolete.

VitaCup’s CEO suffered a vitamin deficiency as a toddler. As an entrepreneur, he discovered how to form conventional coffee and tea healthier by infusing them with vitamins.

People now can get all their necessary vitamins in America’s most-consumed beverage -- without sacrificing taste.

Uber is worth billions today, but it grew from a thought to enhance and streamline the transportation industry.

Getting everyone in on the action is the perfect way to hitch a ride.

3. Create a meeting point.

People’s need for problems to be solved as quickly and simply as possible led to what I prefer to call “bridge companies.”

In our digital world, these businesses often emerge as online platforms. Fiverr and Freelancer are among the industries’s biggest players. Both help people easily complete work-related or personal assignments.

Google Advertising spearheaded a web revolution that spurred companies like Admitad -- which further focuses on marketing for CPA firms -- and a number of others. Each is a platform where advertisers can meet publishers who are willing to display their marketing materials.

In this model, entrepreneurs don’t necessarily need to solve the problems themselves.

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Alexander Graham Bell Edison Einstein Ford


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