How to Be a Successful Entrepreneur | Be Inventive

Hi inventors! Welcome to inventicity, the channel where we combine inventiveness with felicity. Today I’m going to talk about how to be a successful entrepreneur. Many entrepreneurs – many aspiring entrepreneurs – are entering saturated markets and they are trying to use marketing to sell their products. But the most viable way to be successful is to come up with a unique idea. So find your own corner, your own blue ocean, your own unsaturated part of the market where you can thrive. And to do this you must be inventive. The idea with this channel is to challenge you to be more inventive, to come up with more inventive product ideas.

So you don’t need to invent something revolutionary, like the computer or the wheel, but in a market you must find a new more effective way to either produce the product – a cheaper way to produce and distribute the product – or you must invent a better product. That’s the only way to succeed in the long run. The best thing you can do is to: 1. find an unsaturated market. 2. invent a better product than your competitors. And then also be inventive in your marketing. But if you have a good product then you don’t need so much marketing.

In your marketing don’t be too pushy. We see so much marketing today where the marketing is very pushy. We see all these sales funnels and they scare people away. Alright, you can maybe sell the product to the most gullible people, but you scare most people away and they will never ever trust in you again. So the recipe for success is: put a lot of effort into inventing your product, find a unique product idea – it can be a product which already exists, no problem with that, but it must be an improved version of that product.

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So either improve an already existing product, or come up with a product. This is even better – if you come up with a new product idea and then market it in a unique way. And another idea is to produce something which already exists but do so in a cheaper way, or give more and better service to your buyers. So first of all the best you can do is of course to come up with a unique product idea, come up with a product that solves a problem not being sold previously. But you can also look at markets which are already maybe saturated but you can come up with a better product idea. This will make you win over your competitors. And you can also improve the way the product is produced. If you can produce the product much cheaper and deliver it faster and give better service to your customers then you will also win.

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Cecilia