Wednesday, September 23, 2009

on entrepreneurship, success, needs and wants and niches

The triangle of success in work or entrepreneurship: a) like it b) be good at it c) it is in demand?

What do I mean?

Well, you have a hobby that you love, you turn it into a profession - job, you work very hard at it, BUT is it in demand? Many entrepreneurs forget that (the demand dimension).

Can you create demand for something because YOU think that people need it? IMO, that's quite unlikely! It's like trying to MAKE someone love you or fall in love with you: it rarely works! same with demand 4 a product or service! Unless you have many millions to spend in advertising, and then, even then, it is not that more likely IMO.

Of course that does not ignore the utility of pockets of demand (niche) but that niche demand IMO has to satisfy niche's needs

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BRs
Nick

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