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Entering the Race

As the saying goes, everyone has to start somewhere. So how did Bill Gates, Oprah Winfrey, and Stephen Wozniak get from there to here? They, along with other successful entrepreneurs, follow these three basic steps:

  1. They see a need for a new product or service.
  2. They create that new product or service.
  3. They start a business to offer this product or service to customers.

Almost all profitable businesses begin with an entrepreneur (like Wozniak) who recognizes a need in the market and creates a business to fill that need. Wozniak envisioned a computer in every home at a time when computers were used only by universities, labs, and corporations.

If you want to find money-making opportunities, start listening to people around you. Find out what your friends and neighbors are too busy to do or don’t like to do. Then create a product or service that makes something easier or improves the quality of life for people.  That’s exactly what Wozniak did. 

 

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True or False?

Almost all profitable businesses begin when an entrepreneur recognizes a need in the market and creates a business to fill that need.


True
False
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