Why many entrepreneurs are failing?

As an entrepreneur, you must discern what people need in an area or the society, and if you can provide that needs and wants and it commands value, that value will propel people to reward you in place of cash and placing demands on your products or services based on their value. Value propels people to reward you, this is why you must discern what value does your products or services carries to the people.

This is the mindset that you must have as an entrepreneur. Jack Ma (Chinese business magnate, investor and politician) gave us an insight “if you want to grow, find a good opportunity. Today, if you want to be a great company, think about what social problem you could solve.” Late Zig Ziglar shows us a way “you don’t have to be great to start, but you have to start to be great.” You may not invent anything, there are things that are not invented, but you can act on what has been invented. Remember, the first thing is the mindset that seeks to satisfy the needs and wants of the people, the second thing is that your products or service must command value, value is a compelling force that propels people to reward you, and “the level of your reward is the level of your value as a service-provider or product-provider.”

The level of your value as a service-provideror product-provider will determine the kind of customers that will patronize you.”It is about value: designing,packaging and upgrading of your standard. Remember that entrepreneurship is risk taking. Whenever there is a problem, entrepreneurship must find expression through creativity.

Peter F. Drucker defines an entrepreneur as one who always searches for change, responds to it and exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service.

Every entrepreneur needs to surround himself/herself with people that have the same mindset with you; relevant people that can inspire and fire you up for greatness not people that will feed you with fear and doubt.

Bad company corrupt good manner; likewise bad company will paralyze your good idea and make it unproductive. You need the ministry of likeminded people in carrying out and in making effective use of the knowledge you have gathered. They are there for inspiration, encouragement, advice, correction and sometimes to rebuke.

Lastly, What makes you standout?

One thing I learn from mentors is that "don't blend into the crowd, choose to be different".

Unique value proposition Is all about your identity, the very thing that separates you from the crowd. It's a value oriented concept that distinguishes a man/woman, company or group of institutions, countries etc from other entities.

Although your product/service is meeting a need or solving a particular problem but what makes it different and superior to your competitors? What can make customers leave others and pay for your own product/service?

That’s what unique value proposition is all about………