Customers

For a business to be successful, it must satisfy the need of enough consumers to generate a profit. Apple was successful because it filled a consumer need that the computer industry had failed to notice — the personal computer. There are five basic ways an entrepreneur can satisfy a consumer need:

1. Develop a new product or service.
2. Uncover new resources or technologies.
3. Apply existing resources or technologies in new ways.
4. Discover new markets for an existing product or service.
5. Improve an existing business.

Think of it this way: What problem could you solve? That’s the premise on which many successful businesses have been founded. Wozniak longed to bring the computer to every household; Gates sought to develop software that was easy for consumers to use.

Exercise:

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