Month: December 2010

Entrepreneurship is much more than making money. It is a calling. And like every other calling, it’s people-centered. It’s never about you, it’s all about others. It’s a calling to serve; it’s not about what you can accumulate (money/profit), it’s about what you can contribute (service/value). Why do I say this?

what is a business model?

In the words of Seth Godin;

“This classic MBA phrase describes how you set up a business so you can get money out of it. A business model is a machine, a method, a plan for extracting money from a system. Without a business model, a company can get publicity, hire employees and spend money, but it won’t make a profit.”

Credibility is a great leverage for building profitability in business if you can only learn to put it first before profitability. It can take you to places you have never anticipated and it can bring you closer to your entrepreneurial goals faster than any other business strategy. Learn to master the four steps I will be sharing in this unusual article and see credibility do wonders for your business.

As an entrepreneur, if your idea of a great company is to own a business that makes you loads of money, then I suggest you find another career path for yourself, because being an entrepreneur might not be your thing. Why? Because true entrepreneurs seek to make a difference by creating something new and exciting; money is never their primary objective. Their sole objective for going into business is to build a significant company. That is; a company that is different (uniqueness) and making a difference (usefulness). To bring this significant company into existence and nurture it into greatness is the passion of a true entrepreneur. Money is never their main reason for existing, to them, money is only a reward or the result of their commitment and passion to building a great company. As a result, true entrepreneurs don’t do business as usual – they go about business in an unusual manner. In other words, true entrepreneurs are not motivated by money rather they are motivated by a cause. They go into business to make a vision, idea or dream a reality both for themselves and for others. Their passion is building a significant company and nurturing it into greatness.

A niche is a specialized market in which a business operates in. For example, every automobile company produces cars; therefore we have the automobile industry. In that same industry, we have certain niches, such as; the luxurious car niche, the high speed niche, the safety niche and the affordable niche. These niches represent different smaller percentages of the automobile industry. They are different from the general automobile industry, because their market is highly specialized.