The most productive time of the day is not early morning. According to STEVE TOBAK– contributor to Entrepreneur magazine; work productivity has absolutely nothing to do with your daily rituals or habits. He even further asserts that your success probably has little to do with productivity in the first place.
A great mind is a terrible thing to waste. So quit wasting yours. And quit wasting the precious time you have to build your career and business worrying about stupid nonsense like what time you get up, how you eat breakfast, your sleep habits, and what kind of showers you take.
Here are five questions that enormous brain of yours needs to answer if you want to make something of yourself and have a successful business someday.
What customer problem do you solve?
I don’t care how much you love doing something or how passionate you are about doing it, if you don’t come up with a big problem that customers will pay to have solved, your entrepreneurial career will be very short-lived.
What’s your solution and what’s its value proposition?
If your products and services don’t offer a far superior value proposition with respect to the competition, then you’ve got what’s called a commodity product. That means you’re going to be slugging it out on price. That’s not a good place to be.
How are you going to win and keep customers?
Even the best solution doesn’t always win. You still need a plan to reach potential customers, win the business, keep customers happy, and put up competitive barriers because competition always goes where the business is.
How are you going to gain market share and scale?
You’re always creating a new market, expanding the overall market, or taking market share from others. Whichever it is, you need strategies and capital to do it. Market share isn’t just costly to lose. It’s costly to gain, as well.
How are you going to fund your growth?
This is where most entrepreneurs and small business owners fall short. You have to have a clear plan with reasonable assumptions to fund your business as it grows. Otherwise, you’ll run out of cash – easily the most common reason businesses fail.
source:entrepreneur
