Mindset of entrepreneur

Topics: Star Wars, Entrepreneurship, Investment Pages: 3 (947 words) Published: February 8, 2014
Entrepreneurship is a process of identifying and starting a business venture, sourcing and organizing the required resources and taking both risks and rewards associated with the venture. Entrepreneur is a person who is able to exploit an opportunity or who has a bright business idea, organizes it, puts it into action though a business venture, and is prepared to take financial risks. All entrepreneurs are very different from each other. They all have a different entrepreneur mindset that contributes to their success. Their entrepreneur mindset might have to do with their personality or even in the field which they have chosen to work. There are a few important traits or mindset of entrepreneur that motivate them to be successful. For examples, reach out to customer first, utilizes networking to build up business, give without expecting a return, understand the power of brand and always maintain quality control. Generally, when we are discussing about starting up a business, types of products and services seems to be the core of the focal point. Although it may seem to many like that product development should come first before anything, master bootstrapper Greg Gianforte, founder of Brightwork Development Inc. and RightNow Technologies, insists that it is a wrong approach. He claims that to reach out to the customer first is the most effective way. He focused on the technology sector where his experience was strongest. However, instead of starting with a prototype for a product or service and then seek for funding, he started by getting on the phone with his potential customers. That gives him an opportunity to have an in depth conversation about what kind of product would they buy. After a month of phone calls, Greg Gianforte spent about 2 months coding the product that his customers desired. He claims that this is the key reason to his company, RightNow Technologies’ success and the company was cash positive from the beginning of the business! Nowadays, many...
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