Therefore, it’s understandable why entrepreneurs get laser focused on the product that they’ve developed, convinced that it would alter humanity’s routine.
Many entrepreneurs believe that once the product is ready, they automatically have a business. This sentiment is sincere, but often, they’re sincerely wrong!
In their minds, all they need to do is create the product or service, kick back and wait for the big bucks to roll in. I wish it were that easy.
A business is the processes, systems and thinking behind a product that ensures the sustenance of every element of the venture.
Your product is only an element, it’s not the business. A business is a combination of leadership, people, finance, environmental factors, products, processes, marketing, brand management, etc. It’s the system.
A product is the possibility of building a business; the hope of establishing an enterprise. You have something tangible to exchange in the marketplace and qualify to display your conviction in the public square of ideas. That’s it.