Part 3/7:
Delivering a Great Product or Service
Beyond sheer hard work, the entrepreneur stresses the importance of offering a great product or service. In a competitive market, where reputable brands dominate, simply being "a little better" than the competition is not enough. Instead, the product or service must be markedly superior. If it fails to stand out, potential customers are likely to stick with trusted brands rather than experiment with something that provides marginal benefits.
When entering established markets, the challenge magnifies. The expectation for excellence rises, as consumers have already been cultivated by existing competitors. Therefore, aspiring entrepreneurs must focus on delivering real value to their customers.