5 Steps to Being a Successful Entrepreneur

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#1 Differentiate

There are basically two ways to make money selling a product or service. You can either sell it cheaper than your competition or you can differentiate your business by offering something of value to your customers. If there is no difference in your product or service, people almost always base their buying decision on price. (No one wants to have to compete on price.)

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So You Want To Be An Entrepreneur?

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Whether you’re looking for a way to turn your junk into cash (eBay maybe),  a market to sell your crafts (maybe Etsy), want to start your own business (possibly home-based ) or already own a small business …. you’re in the same boat as a lot of other people. Many people seem to be looking for ways to raise a little cash these days. Some of us want to be our own boss and control our own destiny. The entrepreneurial spirit is alive and well.

So, where do you start? Most business advisers will tell you to find something that you love or are knowledgeable about. (OK….. I love cats but how am I going to make money at that?) They also stress that you need to find an unfulfilled niche – something that you can offer that’s needed or wanted and ideally something that isn’t easy to get. If the niche you choose revolves around a product or service that’s abundant, you’re bound to end up competing on price. (Trust me, you don’t want to end up having to compete on price.)

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