Most people envision an entrepreneur as someone who works 18-hour days, or someone who’s entire life involves working. But it doesn’t quite look like that in reality. In fact, overworking leads to fatigue, which leads to errors. But, here are some ways you can learn to work smarter and not harder as an entrepreneur!
When starting a business, you have to remember that it isn’t all about you. You have to remember that the main reason behind starting your business is to show the real value that you create for the product or service that you provide. And that value of what you offer will ultimately be determined by those you offer it to.
Moreover, “people don’t know what they want until you show it to them,” as Steve Jobs once said. So, your goal as an entrepreneur is to determine what your potential customer’s wants are and help satisfy them. That, in a nutshell, is the definition of bringing value to your brand. You can do this by bringing something new to the table or by offering something old in a new way.
Lastly, it’s important to maintain a competitive edge, but it shouldn’t be a primary objective. You should mainly look into providing a specific customer segment, whether or not it is already served by others. When considering starting a business, they begin with what they want to do, then consider what customers say and what competitors in that market space already do. An entrepreneur should not rely on the cost-plus method for pricing. Instead, consider the value-minus method to make sure your customers get as much value as possible on top of the price they pay.
Overall, defining entrepreneurship in “value” terms helps ensure you truly make a difference in the world.
Source: Per Bylund, Entrepreneur.com