Simple products, fast break-even!

trizleAndrew over at trizle has a great and very relevant question today: “Should you build that million dollar product if you’re starting up?“. He is quoting Harvard’s Amar Bhide:

Look for quick break-even, cash-generating projects. The rule in large companies and well-funded enterprises is to stick to the basic strategy. Not so with the bootstrapped start-up. Profit opportunities that might be regarded as distractions in a large company are immensely valuable to the entrepreneur. A business that is making money, elegantly or not, builds credibility in the eyes of suppliers, customers, and employees, as well as self-confidence in the entrepreneur.

This all expresses the simple business truth, small steps, simple products, niche markets, and low overheads, are the way forward for small business. This makes for an environment, were problems are not disasters.

Tags: Business Development, Business Idea, Business Infrastructure, Business Mentoring, Business Start Up, Client Relations, Entrepreneur, Great Business Idea, Home Business, Micro Business, Selfemployed, Small Business, smb, sme, sme-blog, SOHO, The Prince’s Trust,, Very Small Business, VSB

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