Entrepreneurism is not just about implementing a creative or inventive idea. Rather, entrepreneurism is about the quest for a way to turn some aspect of that idea into a product or service that potential customers are willing to pay for. Here is advice from Phil Knight on the importance of marketing. Phil Knight is the founder of Nike, the corporation that is engaged in the design, development and worldwide marketing and selling of footwear.
- On the importance of marketing: the product is almost important marketing tool. What I mean is that marketing nets the whole organization together. The design elements and functional characteristics of the product itself are just part of the overall marketing process. Everything spins off the customer. And while technology is still important, a customer has to lead innovation.
- Whether you’re talking about the core consumer or the person on the street, the principle is the same: you have to come up with what the consumer wants, and you need a vehicle to understand it. To understand the rest of the pyramid, we do a lot of work at the grassroots level.
Source: “World Changers: 25 Entrepreneurs Who Changed Business as We Knew It” by John A. Byrne. John A. Byrne is chairman and editor-in-chief of C-Change Media Inc., a digital media startup Byrne was previously executive editor and editor-in-chief of BusinessWeek.com and founding editor at Fast Company. Byrne is the author or co-author of eight books on business, leadership, and management, including Jack: Straight from the Gut with Jack Welch, former Chairman and CEO of General Electric. In “World Changers,” John Byrne presents potent advice on entrepreneurism and fascinating insights into what it takes to succeed as entrepreneurs from successful business luminaries such as Apple’s Steve Jobs to HARPO’s Oprah, from India’s Ratan Tata to Brazil’s Eike Batista. John Byrne concludes that the three distinguishing characteristics of successful entrepreneurism are the opportunistic mindset, an ability to embrace risk, and sense of independence, control and urgency.
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