Business Nuggets
by matt ~ May 19th, 2008. Filed under: Life In General.I found the following nuggets buried in an article over at SitePro News, my favorite ezine/newsletter.
Being Distracted by Too Many Good Ideas.
You can light up a room with a light bulb, but you can cut through steel with a laser beam. The same is true with your effort and ideas.
Chasing too many ideas at the same time often leaves them exhausted, frustrated, and with little result to show for their hard work.
The key to success is to select one business idea and to develop it completely before moving on to another project.
Not Selecting a Specific Niche.
Perhaps the biggest mistake of all is trying to be everything to everyone. You can’t - so stop!
It’s very counter-intuitive to focus on a smaller slice of the market and most people are afraid to do it. But when you do, your business will grow faster, and you’ll be more financially successful in less time.
Falling in Love With the Wrong Product Idea.
Even the most experienced entrepreneurs fall into this trap from time-to-time and develop products without doing any research. Before you devote any serious amount of time and effort to developing your new ideas make sure there is a demand for the type of product, information, or service you want to launch.