Entrepreneur Formula

BusinessPundit has an interesting post on the formula of successful entrepreneurs:

High Margins + Known Models.

The known model part really hits home. I can personally attest that one of the most difficult things you'll ever do is to sell a cutting edge product or service. Some people will hate it while a few free thinkers will immediately see its value. Most prospects, however, will wait for it to be recommended by others. Most people do not want to be the first on their block to use a service. They want a safe choice.

Remember the old line about pioneers: They're the ones with arrows sticking in them.