{"id":1510,"date":"2023-03-07T10:49:50","date_gmt":"2023-03-07T14:49:50","guid":{"rendered":"https:\/\/parmaks.com\/Resources\/creating-value-as-an-entrepreneur\/"},"modified":"2023-03-07T10:49:50","modified_gmt":"2023-03-07T14:49:50","slug":"creating-value-as-an-entrepreneur","status":"publish","type":"post","link":"https:\/\/parmaks.com\/Resources\/creating-value-as-an-entrepreneur\/","title":{"rendered":"Creating value as an entrepreneur"},"content":{"rendered":"

\"Profit<\/a>
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If you\u2019ve borrowed money or sold shares, you\u2019ll need to build something that\u2019s worth more than your labor. Here are some key pillars where value lives:<\/p>\n

Customer traction
Permission
Distribution
The network effect
Smallest viable audience<\/p>\n

Customer traction is the big one. Every day, are there more people who would miss you if you were gone? More customers who don\u2019t want to switch to save a few dollars? More organizations that are building their future around what you do?<\/p>\n

Permission is the privilege of delivering anticipated, personal and relevant messages to the people who want to get them. It\u2019s not a legal construct, it\u2019s an emotional one. Who wants to hear from you?<\/p>\n

Distribution is a practical way to measure brand. How much shelf space do you have? Mental shelf space and physical as well.<\/p>\n

The network effect is built into your product or service. Does it work better if I tell my friends and use it with them? Is this actually happening or are you simply hoping for it?<\/p>\n

And the smallest viable audience is the building block of all of this. Have you figured out precisely who it\u2019s for? And do they agree?<\/p>\n

A startup exists to find and build assets like these.<\/p>\n<\/div>\n