The primary objective of a business is to get and keep customers. Growing a profitable business requires providing exemplary customer service and products or services of exceptional value.

In classic book by Wallace D. Wattles, The Science of Getting Rich, Wattles writes that it is essential to provide customers with more in use value than you receive from them in cash value. Exactly what does that mean?

Imagine purchasing a training course contained on a set of CDs, and that its price is $1,200. Some would consider this rather expensive, especially if they are working with a small budget. The costs of copying a few CDs, and packaging and shipping costs would not nearly be worth $1,200!

However, suppose you used knowledge and resources contained in course to generate several million dollars of income during your lifetime. In this case, you have obtained far more in use value than you paid in cash value. In fact, you might consider your purchase of $1,200 to be a real bargain.

Word Count: 771 words, 65 characters per line

Thanks, Claudette Rowley ============

The Entrepreneur's Toolbox Claudette Rowley Copyright 2003

Entrepreneurship is largely an inside out proposition. Whether you're trying to create a technology or develop a product, entrepreneurship starts with who you are, and blossoms out from there. In other words, as an entrepreneur, your style is unique to you. You can take every class on how to "do" entrepreneurship - learn business strategy until you could teach at Harvard Business School, and network until you know everyone in phonebook. While knowledge base required for entrepreneurial success in your field is critical, no one can tell you how to "be" an entrepreneur. That you must discover for yourself.

In my experience, entrepreneurs of all stripes require an internal skill set that I call Entrepreneur's Toolbox. These tools, just as much as what's happening in business environment, can make or break fulfillment of your entrepreneurial vision.

The Tools:

Intuition - Intuition is knowing something without knowing how you know. In other words, it's a form of inner guidance or "gut feeling" that allows you to know things that your rational mind can't. Developing your intuition is critical to your entrepreneurial success. Sometimes it's all you've got.

Self-trust - Believe in yourself. Trust your intuition. Understand that your idea, your vision, or your product is needed in world. True innovation can't exist without self-trust. Innovation requires us to leap into unknown. Unless you trust, you won't leap.

Vision - This is your ability to establish big picture of what you want, and pursue it. It's closely tied with passion. Have a BIG vision. It's much easier to scale back a grand vision than it is to amp up a small one. Big visions are based in passion and generate enormous energy.

Passion - If you're not passionate about your idea or vision, what's point of pursuing it?

Human resources - Any successful entrepreneur will tell that she didn't do it alone. She drew on experts she needed to build her business. She also developed and maintained a group of people who continued to believe in her when she forgot to believe in herself. This is crucial.