Every successful business is built as a response to a need in society. The need to move from place to place gave rise to the transportation business; the need to keep in touch resulted in the communication business; the need for food birthed the agribusiness sector, and so on.
“To build a successful business, therefore, is to provide a solution to an existing problem,” says Michael Bievetski. The Moscow-born entrepreneur, investor, and businessman from Dubai is well known for his ability to connect people and use these connections to build solutions in the form of businesses and companies.
The most important aspect of building a business is to identify a need in society and fulfill it. “By analyzing the trends, especially on social media, you can be able to identify market gaps that make for a great business idea,” advises Michael Bievetski. In the advent of the digital era, for instance, there is a need for digital marketing specialists across almost all industries. This presents an excellent opportunity to provide digital services and create a venture. “All you need is to create a value proposition for your clients that will enable you to sell yourself,” explains Bievetski.
Once you have identified the existing problem, Michael Bievetski emphasizes the need to have the right people around you to build your product and deliver the intended solution. A product may be suitable for the market, but if the team tasked with delivering the solution doesn’t have the right mindset, then your business is as good as dead.
Bievetski reiterates that a successful business model is about adding tangible value and solving problems. When you understand the specific problem you’re solving, and who the solution is for, you will attract the customers you desire.
Michael Bievetski’s key takeaway for aspiring entrepreneurs is to always focus on delivering a solution. That, and having the right team, guarantees the success of a venture, no matter the industry.
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