Skin in the game: A common question about entrepreneurship is the level of commitment from its founders and the core team. The same questions are portrayed throughout the investment rounds, initial customer acquisitions and even initial government grants.
It can be very useful for an entrepreneur to use Porter’s Five Forces analysis. It gives a good understanding of the competitive environment in which you are operating and identifies areas of focus. By analyzing each of the five forces, you as an entrepreneur can gain insights into the strength of your position in the market and the level of competition you face. It helps you make better strategic decisions and position your business for long-term success.
If you’re like many Americans today, you may have noticed that grocery prices are high. While the cost of certain items, such as eggs, was briefly a big problem, luckily, some of the most significant price hikes have come down.
Entrepreneur Quotes: This article is a collection of 25 beautiful quotes for entrepreneurs. As a business founder, the number of challenges only increases with time. It is only natural to find ourselves wanting motivation. Some of these quotes give us a direct dose of inspiration. Some other quotes make us pause and rethink our approach. Ultimately, entrepreneurship is a long, hard journey. It needs a consistent drive for us to keep moving forward. This collection talks about various themes such as passion, perseverance, motivation, risk-taking etc.
This is a powerful quote by Will Smith talking about aspirations, fear and judgement. I recall hundreds of memories when I’ve been told to be realistic because my dreams sounded silly. Maybe they were trying to protect me or unfortunately projecting their fears onto me. But none of these things matter in the long run. The only way to move forward is question inquisitively and curiously about both limitations and aspirations.
In today’s article, I want to focus on how to come up with a startup idea. Startups are great when their ideas mature and the founder is able to create a strong market for them. But in this article, we go a step before that to the ideation phase where you’re still toying about whether it can be a startup. What makes a good idea and how to differentiate these from the bad ones?
