What kind of entrepreneur should I be to maximise my chances of success?

Everybody is different and there's no such a thing as a typical entrepreneur. The proof in a few characters based on an article in entrepreneur.com:

Anita Roddick, the bodyshop, cares about what's going on around her in terms of environment, economy, education and health
Mark Zuckerberg, facebook, has a passion to make products and services.
Richard Branson, Virgin, knows what time and place is right for a product.
Jeff Bezos, Amazon, understands trends and does what needs to be done when it needs to be done.
Thomas Edison, the light bulb inventor, always looks towards the next big thing no matter how many mistakes were done earlier.
Seth Godin, bestseller author on entrepreneurship, has many ideas and enables others to make them happen.

All differents yet all heroes

Whom do you relate to? Should another one be added to the list?

Comments

What if my idea already exists?

You may have already experienced the frustration to realise that an idea you had already exists on the Internet. You don't have to have a unique idea to succeed, what matters most is how you make your business unique We're not 6 billion individuals on the planet for nothing, even though not everyone has access to the Internet chances are your new ideas already exist in a shape or form somewhere. Don't let it discourage you! Your Ideas are unique because you are unique. You may have similarities with existing projects but shortly your personality will show and make your whole project unique.

How can I balance my cashflow and my product development?

Unless you have a regular source of income that covers all of your product development spendings, you'll have to continuously make sure you don't overspend. This has hard consequences: postpone work that isn't top priority, be frugal when dealing with salaries, focus on revenue growth instead of quality. Bootstrapping a startup requires to make hard choices to preserve your cashflow! Cashflow is king for most startups: even if you hand team problems skilfully, maintain a upbeat pace compared to competitors, money problems are still able to kill your business relatively quickly. One way of handling this is to have several regular revenue streams that make it possible to invest in building a quality product over time even if you don't get any funding. Stable resources are the key to a sustainable product roadmap!

What's a good home based business idea?

Working from home and making an additional revenue is tempting but not easy to set up. Many have tried it with only limited success. Another busy day at the office! Design your projects to take advantage of being at home and do better than competitors! It all comes down to what you're trying to do, i.e. your initial idea. Why no take advantage of the fact that you're at home to leverage your business? If you've got a big house, you may store things easily, welcome customers directly at your place... A good idea is eventually one that puts you ahead of the competition . Don't hesitate to run it through the business Ideas test before you start!

Business Ideas

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