THE ENTREPRENEUR VIEWS HIS BUSINESS AS A PRODUCT COMPETING AMONGST OTHERS.
The entrepreneurial model of business satisfies the perceived needs of a specific segment of customers, innovatively. It views a business concern as a product competing alongside other businesses for the customer’s attention. It concentrates more on how things are done rather than on what is done. The way the commodity or service is delivered is paramount to him, not the good or service itself.
The entrepreneur creates solutions to the frustrations of a certain segment of customers, in the the likeness of a business that looks and behaves in a very specific way that is to the customer’s liking, not the entrepreneur’s.
The entrepreneur views his business from the customer’s point of view, seeks to cater for the customer’s tastes, and fashions ways of instilling uniqueness into his business. Thus, he starts with a picture of the customer whom the business is to be created for, not that of the business to be created.
The entrepreneur sees the customer as an opportunity. He sees the multiplying wants nurtured by the customer as a gold mine, and plans how to tap into it in the present and in the future.