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Success in Entreprenurship

written by mayesha awal

Have you dreamed of inventing something? Starting a business? Have you thought of being an entrepreneur?

An entrepreneur is an individual who is daring in their ventures because they choose to undertake opportunities when others may not want to. They are dedicated to their idea and work intensely.

But there is a distinctive difference between successful entrepreneurs and entrepreneurs whose businesses fail. What primarily distinguishes successful entrepreneurs from “entrepreneurs” are those who are driven by their passion. This is why the Wright Brothers’ name is much more well-known than Samuel Pierpont Langley, as the Wright Brothers believed in their mission—they envisioned and had strong faith in what they were pursuing. This persistence and stubbornness in the reason “why” they pursued their goals is what accelerates them forward, even if they may have not succeeded in the beginning. As author Simon Sinek says, people buy “WHY” you do it and not what you do.

If you are thinking about launching a product or a business, then you may consider reflecting on your values. To map out the values for your product/business you can use the acronym CUSB, which stands for Customer, Unmet Need, Solution, and Benefit/Differentiation and practice sketching out your plan. Below you can find an example that I did for a class assignment.

Also, make sure you are realistic about your goals and follow-through. If you have difficulty following-through working on your own, try to find like-minded people who have the same interests as you or are also interested in launching your product.

Ask people whether they would use your product through surveys or polls. However, ask questions that you can truly learn whether or not someone likes your product, as opposed to simple yes/no questions. Think about your product’s sustainability. Do you think people will use it in the long-run?

Look at other competitors’ products for inspiration. If you are struggling with ideas, a good website to peruse is Kickstarter.

You can also think about interviewing other entrepreneurs who are local. They can give you insight into their thought process and maybe even serve as mentors if they are interested in your product. Some people are very willing to help, but you have to make yourself vulnerable and take that first step to ask them those questions.

Be ambitious about your goals but also make sure you have the support needed to launch your product!

To be an entrepreneur...

  1. Reflect on your values for your product/business

  2. Be realistic about your goals and follow-through

  3. Ask people whether they would use your product through surveys or polls

  4. Look at other competitors’ products for inspiration

  5. Interview other entrepreneurs, find mentors

CUSB Example

AL-AWWAL HALAL

C = Purchasers of halal meat, Small businesses (farms that partner)

U = Difficulty accessing Halal meat options for the ideal customer

S = Delivery and pick-up that is convenient for customers

B = Easy, efficient, and affordable

~Mayesha Awal

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