11 Business Tips to Entrepreneurs from Ken Morse Managing Director of the MIT Entrepreneurship Center

18 Mar, 2012


Today At the MIT Enterprise Forum Arab Business Plan Competition Workshop session taking place in Abu Dhabi, Ken Morse, Senior Lecturer and Managing Director of the MIT Entrepreneurship Center shared some tips with the business plan’s 50 Semifinalists, along with 20 Semifinalists from Global Innovation in Science and Technology (GIST) Competition. 

Here are the tips

1. Expanding market share is more important that reducing costs

2. Its not about you it is about them

3. no one is going to buy from you unless they think that you understand them

4. Sales is all about listening and understanding

5. God gave you two ears and one mouth, don’t forget the ratio

6. you need a customer and sales focused part in your company

7. Remember the people who helped you along the way, that is what entrepreneurs do

8. when you signed up for entrepreneurship, you didnt sign up to be comfortable

9. first step for pitching, define who you are pitching to

10. define who is your target customer, one

11. you stop pitching when you die

Source: @MITEFarab

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  1. Ryan Hoody  |  April 17th, 2012 at 5:45 PM #

    These are some great tips for running a business. Service to customer is always critical, and frequently separates the successes from the failures. Also, the focus of quality over quantity is great, especially in our world where quality seems to be on the decline in exchange for the quick dollar.

    As a person currently trying to start my own business, these are some great pointers!

    Thanks,

    Ryan

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