Dreamers come up with ideas but can't implement them. To do business, you must be prepared to take risks, manage uncertainty and responsibility. You need to be able to make very difficult decisions. Dreams will not be enough for your customers.
The fact there are already a lot of players in your market does not mean you too will find a place. Much greater chances are available in markets with weak competition.
If you offer something really unique, invest in patents and trademarks. The competition, especially in the form of large companies, will very quickly wake up and possibly overwhelm you.
You can replace a lack of experience with great energy for work only partially. It always pays to experience something in a particular industry before you decide to enter it as an entrepreneur.
After establishing your business it is already too late to start looking for funding, distribution channels or experts with the necessary skills. You should prepare thoroughly for the launch prior to actually starting the business.
No start-up company can afford to start promoting its product only after it is fully developed. Your marketing campaign should be launched even before your product development starts. Creating a product and getting sufficient attention via marketing takes roughly just as long.
Yes, you will be tired and frustrated. Successful entrepreneurs, however, do not give up even when their chances do not look good. Nobody has ever succeeded without overcoming large obstacles.
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Article source Forbes.com - prestigious American business magazine and website