How to Think Like an Entrepreneur

by Shenron on October 19, 2009

It’s guaranteed that there has been a time where you said, “I wish I have thought of that first”. The only way that is ever going to happen is if you train yourself to start looking for these ideas.

In order to become a successful entrepreneur you need to first start thinking like one. The thought process behind every entrepreneur is actually different than most peoples. The goldmine when it comes to entrepreneurship is and always has been the idea. The idea is the one thing that will make or break you and has to be unique, but also profitable.

Entrepreneur How to Think Like an Entrepreneur

When you are searching for that unique idea that can rocket you to riches you need to be always thinking during your everyday events. Even while you read this article you should be looking for ideas. For most people it takes years to come up with that idea, while some never do. The following are questions that you should ask yourself while brainstorming.

1. Is there a market for it?

2. Can it be done with today’s technology?

3. Are you able to make profit after the costs?

4. How can I cheaply get the product to my customers?

5. What would a competitor do to beat me?

6. Is it legal?

7. Can you do it?

If your idea does not provide a good result to these questions then you shouldn’t do it because most likely it will not be successful.

When you are watching a TV commercial, don’t focus on being a customer, you need to be thinking about that product and what they are doing. You should always be learning and there is an infinite amount of knowledge out there that is absolutely free. All you need to do is open your eyes and your mind and pay attention. The people that run these businesses already are successful or they wouldn’t be doing it. That is why it is extremely important to see what they are doing in order to spark ideas and learn from it.

Entrepreneur 5 How to Think Like an Entrepreneur

If you are in a routine that you basically do everything the same everyday then you should break that habit. Ideas come at the strangest times in our lives and if you are doing the same thing over and over then you are just hurting yourself. Some ideas would be to drive a different way to work, watch new TV shows, shop at different stores, or to start a new hobby. The more you experience in life, the greater of a chance you have to get that brain power working for you.

No copycat idea is ever going to be extremely successful. Yes, you can still make money off of copycat ideas but the goal should not be to try it. If you are going to attempt it then you need to bring new life and include something that the customers of the old idea have been craving. A prime example of that would be creating a smaller niche off a successful large niche. Example, creating a Facebook type of site but just for people that are looking to lose weight.

Anyway you decide to go I wish you luck in your ventures!

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