Business Thinking for Entrepreneurs

Many entrepreneurs fail because they lack ‘business thinking’ - a way that successful business people think - you know, the people who seem to have business in their blood and are considered business-savvy? It is a skill that can be learnt. With regular practice, you too can become good at business thinking, business-savvy and more successful in business. 

“Entrepreneurs with business thinking add more value and flourish; those without, add less value, waste resources and often fail.”

Since starting a business today is easy, many people mistakenly believe that succeeding is easy too. As many as 3 out of every 4 startups fail. Even smart and credentialed people with abundant resources and guidance fail. There are many reasons startups fail and they have been studied ad nausea, but the failure rate has not changed much. People look at visible and conventional reasons like capital, technology, talent and credentials. They fail to see the invisible reasons for failure. This article discusses a different set of reasons for failure and argues that success requires thinking about a combination of things and doing them correctly. I have labeled that as ‘business thinking’. We also discuss a tool, the ‘business thinking canvas’, that you can use to think and act to increase your chances of success.

Entrepreneurial Mindset + Business Thinking = Greater Success

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