Dr Greg Henley says that knowing the basics is not enough. Successful entrepreneurs recognize that creating a long-term sustainable business requires more than just a good idea. The entrepreneur must make sure that her idea is a good business opportunity, which means that it must create value for the customer and for the entrepreneur. That is, the business must provide benefits for customers so that enough of them will purchase the product/service at a price high enough for the entrepreneur to make a profit. Yet, there are many pitfalls entrepreneurs face even when they know the basics.
Greg Henley is the Director of the Herman J. Russell, Sr. Center for Entrepreneurship at Georgia State University. His background includes entrepreneurial experience both as a practitioner and as an academic.
Kenneth Brown (Sales & Profit Evangelist) E3C, Twitter: @KenE3C, www.BetterSalesandProfitsNow.com www.twitter.com/KenE3C www.my-business-community.com www.mybusinesscommunity.ning.com www.E3C.typepad.com
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E3C: The Passionate Entrepreneur
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July 17, 2009
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