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

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.

Editor's Pick

Related Topics

Business News

'Please Fix This': Elon Musk Frantically Emails Employees During Livestream Glitch

Musk attempted to livestream his visit to the U.S.-Mexico border.

Business News

Costco Isn't Facing Devastating Surges in Theft Like Target and Walmart — and the Reason Is Very Simple

The retailer's CFO revealed its strategy during a fourth-quarter-earnings call.

Business News

These NYC Roommates Created a Fake Restaurant and Accidentally Garnered a 2,000-Person Waitlist — So They Opened a Pop-up for Real.

The Gen Z'ers dubbed their apartment "Mehran's Steak House" on Google Maps during the pandemic.

Business News

Video: Mass Flooding Takes Over NYC Streets, Subways and Parks

All of New York City is under a state of emergency.

Business News

Netflix Is Mailing Out Its Last DVD Today. I Got the Very First One 25 Years Ago.

Netflix co-founder and founding CEO Marc Randolph tells the story of the first Netflix DVD that got sent in the mail — and one he wished never went out the door.

Branding

Want to Improve Your Brand's Storytelling? Shift Your POV to Tell a Better Narrative. Here's How.

In a crowded digital media environment of voluntary engagement, brand storytelling isn't enough to grab attention. You must approach the story from the right perspective — your customer's.