It’s widely agreed that we need more entrepreneurship for economic growth and a higher standard of living. But more is not always better. Unfortunately, many entrepreneurs fail to consider what it is that they’re contributing to the economy, and for that reason don’t always end up being productive. Sure, you don’t have to be productive to make money. And to the degree that “success” is a matter of getting big figures at the end of your P&L statement and being “in the black,” you can succeed as an entrepreneur without contributing much to the economy or society.

Thinking about entrepreneurship in “value” terms helps ensure you truly make a difference in the world. That kind of thinking also keeps you on the right path, where the obvious truth is that you serve yourself by serving others. The simple and inspiring truth is that there is no contradiction between making money and making a difference. In fact, you can do well from doing good. But to do so, you must consider the following simple but often overlooked ideas of what a truly “productive” business is:

1. It is not just about you.

Starting your business is a personal choice, and may be tied to a choice of the kind of life you want to live; but the impact and success of the business is not all “personal.” In fact it is not all about you, the product or service you provide, or the opportunities you recognize. It is about the value you create. And the value of what you offer is determined by those you offer it to.

2. It is not just about what people say they want.

Your job as an entrepreneur is to determine what those unsatisfied wants are and help people satisfy them. That, in a nutshell, is the definition of “value.” You can do this either by offering something new or offering something old in a new way. Alternately, you can tell a different story that excites your customers and makes them realize the value that they can attain.

Source Credit: Entrepreneur
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