Tag Archives: Starting a Business

Creating Value: Definition and Why Does It Matter?

What it is: Creating value means making something less valuable more valuable. If it is associated with creating customer value, it is an attempt to generate added value.  What is added value? Value added is the difference between the selling price of a product and the input costs to make it, including raw materials and related components. Take a simple example. Your… Read More »

8 Qualities of a Successful Entrepreneur

Starting and running a business is not an easy task. Entrepreneurial qualities define and help answer why one entrepreneur fails and quits while others bounce back and succeed in achieving what they aspire to. Some people may be proficient and become professionals however, they do not have the qualities to become a successful entrepreneur. So, not everyone has the… Read More »

Where Do Entrepreneurs’ Business Ideas Come From?

Entrepreneurs’ business ideas can come from their daily lives. For example, they commercialize their hobby. Or, they observe the problems people face and then offer products to provide them with solutions. Basically, business ideas are plentiful and it’s not hard to find them. However, not all of them deserve to be commercialized. So, the real difficulty when starting a business is… Read More »