ENTREPRENEURSHIP! The world is calling to entrepreneurship, the YouTube channels on entrepreneurship record high views, the blogs on entrepreneurship have high viewership, motivational speakers are everywhere, motivational books abound the internet, both free books and paid ones, eBooks, paperback and hardcovers, everywhere books on entrepreneurship are selling fast.
But who can blame the people?
But in the midst of this euphoria, several business books are being churned out, motivational speakers have increased at an alarming rate, blogs, YouTube channels, Facebook group, and pages, etc., there now exist several stories and lessons on entrepreneurship, thereby leading to the truth being mixed with falsehood.
Due to this, there now exist a need for the people to know and understand what is really true about entrepreneurship and what is false, they need to be able to separate the fact from the fiction, and also the real from the fake for them to be able to know what to expect in their journey to success and also for them not to be desperate when they brutally find out that something they believed turned out to be NOT SO true.
A PEEK INTO THE BOOK Fact: Create products that can serve a lot of people If you ever hear this also, then know that it is the truth!
To make your business a multi-million-dollar or a multi-billion-dollar company, you need to create either of the 3 kinds of product:
a)A very costly product to serve a small number of people
b)A costly product to serve a fairly large number of people
c)A cheap product to serve a ridiculous amount of people The most common are the second and the last, while the last is by far the Go-to strategy for most top companies today.
It's not rocket science, its basic mathematics!
For example; let's use 3 kinds of products as examples:
Product A: A product with a cost of $100,000
Product B: A product with a cost of $1,000
Product C: A product with a cost of $100
If You want to make $100million with each product;
Product A: You need to sell to 1000 people to make $100million.
Product B: You need to sell to 100,000 people to make $100million.
Product C: You need to sell to 1,000,000 people to make $100million.
This is one of the most correct facts every budding entrepreneur should know!So; choose your product wisely!
Fiction: Do what you are passionate about. This is another fallacy!
If you can achieve success with what you are passionate about, then it is better, but if not; then you have to do what you are not so passionate about if that can bring the financial success you so much wish to achieve.
Let us take Mr. khan as a case study;
-He is passionate about comics
-He listened to financial motivational speakers and he heard them say that You should do what you are passionate about
-He started thinking of how to make money from comics because that is what he is passionate about.
-He conceives an idea, but he finds out that better options are in what he is not passionate about
-He started his business but wasn't really making profits because the better options he saw were not his passion
-He dumps his passion and ventures into other things
-He gained interest and expertise in the new field he found himself
-Ultimately, He succeeded in his newly found field
-Ultimately, he succeeded because he was able to realize that when what you are passionate about is not translating to success, you need to venture into other things you may not have passion for.
