The #1 characteristic of businesses that never rise

It is the reason most first-time entrepreneurs fail

This hopefully is going to be short today.

One problem I find common among first-time entrepreneurs is that they believe their non-entrepreneurial experience counts as points towards their entrepreneurial success.

This leads them into starting a business because they know something about the subject. This is the number one characteristic of businesses that never rise:

They start a business based on the subject they studied in school

That is a very wrong approach to entrepreneurship. If you are using this model and you are struggling in business, this is why you are struggling.

You feel you have to do a certain type of business because that is the expertise you gained from school. This is wrong because you will approach business from the standpoint of the idea.

Business is not about the idea, concept or subject. Business is about the market. What you ought to be selling is a better version of what people are already buying.

I can’t emphasize this enough. And I will keep emphasizing it until you get it. This is the mother of all business secrets:

Sell a better version of what people are buying

When you get this, your eyes will become open to other secrets.

Do something about this.

- David

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