Entrepreneurial Thoughts

Here are some thoughts on the subject of entrepreneurship. Since my area is thinking, this seems appropriate to me.

Why do some products/services succeed wildly when many bite the dust/become so-so survivors?

In my not-so-humble opinion (IMNSHO), it is because no one needs them. If a person (lots of people) needs (need) something, they move heaven and earth to get it. Lots of examples come to mind, ranging from a matchbox to a mobile phone or its service provider, to the life-is-jhingalala TV dish, to the internet connection (for the mobile-haters) provider, to Blogger (for those who can't resist putting finger to keyboard), to a pair of scissors (for those with overgrown nails or nose hair or just a packet that needs to be cut open), to a can-opener (beer cans don't these, so they are exempt), a ticket to a good movie, or concert- they don't need no salesman.

Insurance, on the other hand, is a product no one will stand in a line to buy. So don't start an insurance company. Rather, start a food stall, even if you do a pani-puri or idli-sambar. Find a product or service (liaison with government offices until achche din come along) that people will gladly pay for, and you are in (a good) business!

That's the key, and that's all you need to know-from me. The rest you can figure out as you go along. Happy entrepreneurship!

Comments

Diamond Head said…
A taxi service in Lima, Peru during a recent visit fits the bill. Literally anyone who can hold a wheel and press a pedal to the floor (simultaneously - without knowing where the brakes are) qualifies.
Rajendra said…
that's where India has seen a boom too, after the venerable I.T. industry 'happened'. We could churn out drivers by the millions, and never stop-I wish they knew how to drive, though..

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