I’ve personally been involved in at least seven business startups. In this series, let me share seven keys to success for aspiring entrepreneurs.
Legendary consultant, Peter Drucker, wrote, “There is nothing quite so useless as doing with great efficiency something that should not be done at all.”
In my opinion, the first key to success is producing a product or service that meets a customer’s need or desire; not what you think the customer wants. This requires wisdom.
Proverbs 3:13 teaches, “Blessed is the one who finds wisdom, and the one who gets understanding, for the gain from her is better than gain from silver and her profit better than gold.”
Market research can be formal or informal, but it’s critical that you seek understanding on what your customer needs.
