The document discusses key concepts and strategies for entrepreneurs including crafting a vision statement defining the business' future goals. Entrepreneurs should also devise a value creation proposition outlining the value and satisfaction their product or service provides customers. Finally, entrepreneurs need a differentiator or positioning strategy explaining what makes their business unique compared to others.
The document discusses key concepts and strategies for entrepreneurs including crafting a vision statement defining the business' future goals. Entrepreneurs should also devise a value creation proposition outlining the value and satisfaction their product or service provides customers. Finally, entrepreneurs need a differentiator or positioning strategy explaining what makes their business unique compared to others.
The document discusses key concepts and strategies for entrepreneurs including crafting a vision statement defining the business' future goals. Entrepreneurs should also devise a value creation proposition outlining the value and satisfaction their product or service provides customers. Finally, entrepreneurs need a differentiator or positioning strategy explaining what makes their business unique compared to others.
The document discusses key concepts and strategies for entrepreneurs including crafting a vision statement defining the business' future goals. Entrepreneurs should also devise a value creation proposition outlining the value and satisfaction their product or service provides customers. Finally, entrepreneurs need a differentiator or positioning strategy explaining what makes their business unique compared to others.
- Entrepreneur should think of the reason for the business’ existence. - He can do this through crafting a brief vision statement.
Vision Statement- is simply defined as what the business should do in future.
The entrepreneur should also devise a Value creation proposition - The value that the product or service will offer to the target customers or the satidfaction of the needs or wants of the target customers. - This proposition should be compelling enough to influence the behavior of the target customers. The entrepreneur should also understand the importance of timing of the business. He/ she should ask: Is it really necessary to establish the business now?
Last, entrepreneur needs to devise a differentiator or a positioning strategy .
(what difference will the new business inculcate to the target customers as compared with the rest?)