Many people are fascinated with “entrepreneurship” and starting their own businesses. What these people need to ask themselves before jumping into the roller-coaster ride of entrepreneurdom is: can they create something that is a niche product or service?

Here are 6 tips that are useful in understanding how to create a niche.

1. Research your market.

No matter what product or service you are developing, you need to understand a) what is the market for your product/service, b) is there a need within the market for your product/service, c) who is the competition( if any), and, if there is competition, what can you do to separate yourself from that competition. It is always important in creating a niche to be “where everyone else is not.” Click here to continue »

When I look back at the last 45 years, I feel the greatest factor in any success I have had, as a university student, diplomat or businessman, has come mainly from being lucky.

When Napoleon was asked if he preferred courageous generals or brilliant generals, he replied neither. He preferred lucky generals.

So, how do you get lucky?

These are seven habits that brought me luck. Click here to continue »

To be able to fill leisure intelligently is the last product of civilization, and at present very few people have reached this level. ~Bertrand Russell

When you come home, tired and stressed, the last thing you want to do is think. You want to relax and cut loose. For most people that means zoning out in front of the TV or joining friends at the bar for some chemical stimulation.

Is this really the best way to use free time? Are all intelligent pursuits draining and tedious?

No. The feeling of discovery that accompanies learning is rejuvenating and empowering. When you succumb to laziness and fill your leisure with mindless activities, you’re sacrificing your most valuable possession — your individuality. Click here to continue »

Not long ago a reader emailed me with the following question:

I have a goal and I am working towards it. But, I am lacking something and I feel that is MIND-SET. Could you guide me to create a strong MIND-SET?

This is a difficult question to answer. The appropriate mindset depends on the situation. In competitive situations, an aggressive mindset is needed to defeat opponents. In cooperative situations the opposite is true — a passive-compliant mindset is necessary to put group needs first.

These opposing mindsets are the reason that strengths often double as weaknesses. Click here to continue »