Get All Access for $5/mo

You Have One Task as an Entrepreneur, Are You Doing It? In order to make money as a business owner you must first create value, here's how to do it.

By Jeff Shore Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

People become entrepreneurs for all kinds of reasons. The desire to bring a product or idea to market, to get out from the grind of a nine to five desk job or perhaps to make a boatload of money. There's nothing wrong with any of that. But just keep in mind that those things must not be the focus. Making a gazillion dollars is wonderful and making your own hours is cool. But those are results, not focus points. As an entrepreneur you must remain singularly focused on just one thing: creating value.

That's it. That's your task. Create value. Then create more. And then never stop. Everything else is secondary, and everything else must follow behind.

Avoid the distractions.

So many entrepreneurs get bogged down with tasks that seem critically important at the time but are not related to the creation of value. For example, how much time do you spend responding to other people's e-mail requests? How much of your life is invested in balancing the books, in managing outsourced subcontractors, or in putting out micro fires all around you? Yes, those things seem important but look at the list again. There is nothing there that creates value.

Related: Five ways to stop being busy and start being effective.

The revenue chase.

Early on in your entrepreneurial career you were probably told that revenue is the fuel that keeps small businesses alive. I cannot argue with that concept. But instead of asking "How do I get revenue?" entrepreneurs should ask "How do I create value?" Focus on the latter. It is the only path to long-term success.

Related: Create value -- not just buzz -- for your customers.

The good news.

Take a page from every successful entrepreneur ever. You'll see something in common: they all excelled at creating tons of value. Jobs, Gates, Fields, Bezos, Corcoran, Branson, Winfrey, Robbins, Hsieh, Musk -- the list goes on and on. Yes, that is a list of people who made huge bank, but in every case that income was based on bringing a tremendous amount of value to the marketplace.

Related: Eight great entrepreneurial success stories.

In other words, bring enough value to the market and everything else -- yes, even the money -- follows thereafter.

Create value, and you can change the world!

Jeff Shore

Entrepreneur, Sales Expert and Author; Founder of Shore Consulting

Jeff Shore, of Shore Consulting, is a sought-after sales expert, speaker, author and consultant whose latest book, Be Bold and Win the Sale: Get Out of Your Comfort Zone and Boost Your Performance, was published by McGraw-Hill Professional in January 2014.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Leadership

Use These Body Language Hacks to Manipulate Your Way to Success

Do you cross your arms? Slump your shoulders? Avoid eye contact? These non-verbal cues could be ruining your chance of success.

Money & Finance

What Every Entrepreneur Needs to Know About Raising Capital

Entrepreneurs aiming to establish thriving businesses must grasp the various types of capital available. By understanding these options, entrepreneurs can strategically raise funds to fuel growth, retain control or utilize assets effectively. This knowledge equips them to navigate market fluctuations, meet investor expectations and tailor financing strategies to their business needs.

Side Hustle

She Had Less Than $800 When She Started a Side Hustle — Then This Personal Advice From Tony Robbins Helped Her Make $45 Million

Cathryn Lavery built planner and conversation card deck company BestSelf Co. without any formal business education.

Starting a Business

They Showed Up to Apple With a Product They Built in Their Dorm Room. Now These Entrepreneurs Are on the Way to Changing the Way Fans Watch Sports.

How Rahat Kulshreshtha and Gaurav Mehta launched Quidich Innovation Labs, technology that is literally changing the game of sports viewership.

Leadership

Your Definition of Leadership Is Outdated — Here's How to Be a Better Leader in the Modern Workplace

In my nearly thirty years as a leader, I've focused on setting a clear vision and empowering my team to achieve our goals. We prioritize establishing shared objectives while allowing for flexibility when needed.