I saw this post on Quora and couldn't help but share it.

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How can you tell whether a new entrepreneur will make it or not?

“What are you doing, Luigi?” Mario asked.

“I’m starting my e-commerce web store,” Luigi said.

“Tell me about it,” Mario requested with curiosity. “Sounds like a very interesting project. What’s your strategy?”

Luigi got all excited and a little arrogant.

“Well, Mario, I’m going to crush the market with efficiency,” Luigi said.

“Efficiency? That’s your strategy?” asked Mario.

“Nobody will be able to beat me. I’m investing heavily in the best computers and the best software. I’m not cheap like you, Mario!”

“Well, I don’t necessarily call it cheap,” Mario said.

“I’m setting up the fastest servers with the latest e-commerce tools. I’ll be able to process thousands of orders per day! You know how the saying goes, ‘Go big or go home,’ Mario!”

“Interesting strategy,” said Mario respectfully.

“What about you, Mario? What’s your strategy?” Luigi asked while showing off his powerful servers.

“My strategy is more into being the most effective, not necessarily the most efficient,” he said.

“What does that mean?” Luigi asked.

“It means that while you’re focused on speed, I’m focused on direction. Yes, while you may have the ‘fastest’ servers, they’re worthless if they’re not effective.”

Luigi sat quietly for a few moments thinking.

Mario continued, “Efficiency is just one of the multiple variables needed for achieving success in business. Yes, it’s good to go fast, but know that the faster you go in the wrong direction, the faster you will dig your own grave.”

To answer your question, how can you tell whether a new entrepreneur will make it or not?

Most are obsessed in DOING, and not thinking.

In war and in business — “Strategy wins wars.”

All your hard work and resources will be worthless if there’s no market for your product or service.

When starting, do NOT focus on the HOW — focus on the WHO you’re serving.

#bebusinesssmart

~Hector Quintanilla