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What are the strategies to be a good Entrepreneur?

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1.. Study the competition.

As an entrepreneur, you need to know who your competitors are. You also should understand the rival product or service that is being offering.

This knowledge will help you better market your product or service to stand out, perhaps even using your competition’s weaknesses to your advantage.

2.. Research new products and services.

Understand emerging products or services on the horizon that could improve your company's operations.

3.Conserve cash no matter how good business is.

Frankly put, live as cheaply as possible.

 

Entrepreneurs should be as conservative with their money as possible to be able to deal with any rough patch that arises. Conserving several months' worth of operating expenses in the bank will help you survive most unforeseen circumstances.

 

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