3 Easy Ways of Getting Value Addition Right During Entrepreneurship
You would be a lifeless jack without value addition
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Today's entrepreneurs are undoubtedly smart; this is evident by the sheer number of societal solutions that are being launched for the Indian market. In this juncture, entrepreneurs; especially the newbies; should take care to check that their solutions are totally standouts and offer value addition. This is not only to compete with the tons of others existing in the market, but also to educate the consumers that with the right smart acumen plaguing problems could actually be solved.
Hence, value addition forms the crux of modern entrepreneurial solutions. With this being the criteria, Entrepreneur India attempts at offering a guide for budding (and newbie) entrepreneurs to add that touch of value to their solutions in order to infuse inclusiveness and standout from competition.
Step 1- Harnessing common sense
Here, it is worth remembering that using and harnessing are two separate terms a far as common sense is concerned. Whilst at entrepreneurship, the latter is required more than the former actually.
"Not only will you need to grind it out like an ironman, but you will also need different skills during this journey," states Sahil Vora who is Founder and Managing Director at SILA Group.
Vora's statement clearly emphasizes on the need for cultivating essential skills required to guide you throughout your entrepreneurial journey.
""There are certain basic things that I did right. My attitude changed and hence this helped me change my whole world," adds CK Ranganathan who is Founder and Chairman at CavinKare.
This clearly signifies the need to cultivate the right attitude intertwined with common sense, to create the value addition which your business requires.
The takeaway here is for you to effectively club common sense with business prospects and evaluate if you have the right attitude to make a difference and standout from the crowd. In case your answer is yes, proceed; else proceed to finding out why your solution would even be sought after and talked about by the vast majority upon release. This should give you your business answers.
Step 2: Smart Catering
Catering is not simply developing solutions to a problem. It has got more to do with ensuring that the solutions actually cater to a pain-point and make lives of people easier. Use the takeaways from Step 1 to get to this point; once achieved, you should even notice potentially long-term relationships built with your customers.
"One is not successful because lady luck smiles on them, one's business booms because one is opportunistic at the right time," informed Ashok Kularia –Managing Director at ANJ Turnkey Projects.
Kularia's views hit the nail squarely on the head with respect to identifying the right opportunities (business opportunism) and then catering to this segment that requires your solutions the most; rather than randomly hitting the market with purely commercial intentions in mind.
Step 3: Work to become smarter
With the Step 1 and Step 2 followed and achieved, the final frontier would be to get yourself to become smarter through your work. Work to learn and grow; once this is cultivated within, value-additions should follow dynamically to enable you make better business decisions.
Once you innovate, avoiding brain drain during your entrepreneurship should be relatively easy. Hence, take calculated risks to potentially lead to greatness.