Successful entrepreneurs are great people with wisdom and foresight.
Failure rate in entrepreneurship is more than 99%.
What differentiate wheat from the chaff?
Let me share my story. I am one of the 99%, who is going through a series of failures.
Clarity in understanding customer's pain point and solving it through a viable & scalable solution is key to success. It is said easily but very difficult to crystallize.
I am in a business of health & wellness services. Health is a concern of every individual. Wellness is important to each one of us. But till I understand customers pain point in addressing health & well-being for themselves and their family members, and there by find a viable solution to address the same, I am beating around the bush with my offerings!
I know that the answer to my problem lies with my customer. But I am NOT listening to their need. It is getting lost in the noise of my own knowledge.