Creating an organization of lasting value, meeting customer needs come first, serial entrepreneur says
Starting a small business has many rewards - but one of them is not necessarily money, said serial entrepreneur Eric Ries.
In a post for technology blog GigaOm, Ries said told existing and prospective entrepreneurs that starting a small business is not necessarily the path to riches, as it brings far more uncertainty than an employer job.
Instead, starting a small business can bring unique rewards, such as changing the world, making customers' lives better and creating an organisation of lasting value, said Ries.
"If you only want to do one of these things, there are better options. But only startups combine all three," he wrote.
Too often, he said, entrepreneurs care more about realizing their visions - something that should be confined to an academic research and development lab - than meeting any of the aforementioned goals, without which a startup cannot really be successful.
Serial entrepreneur Neil Patel agrees - in a recent post on his blog, Patel told entrepreneurs that catering to customers' needs is one of the biggest prerequisites for startup success.
