Did you know that AI entrepreneurship is based on the standardized knowledge commodity? Innovation is less important than value creation. Before starting any AI business, you need to perform customer penetration analysis. How much distance do you have from the real customers? How many intermediaries do you need to face to find the real money? What is your cost structure? Like, if you are deploying your AI solution, what are the platform fees, your development cost, and how much time you have invested? If you have not earned more than your investment, why are you continuing this business?
If you’re replicating someone else’s business method, then it is essential to trace their composition of business income. Learn about the complete income distribution curve, like customers who used their products and services. It is also very important to negate the social entrepreneurial persona because starting an AI business does not mean creating a label of AI entrepreneurship but obtaining real profit.
In this digital age, you should also not misunderstand your dividend because if you think that you’re certainly successful because people want to learn about the technology, then you misunderstand your customers. The market environment is changing rapidly, and technology also changes year by year.
Targeting the real customer’s needs and not rushing for fake demands. When you analyze people’s demand regarding products and services, you may encounter many bubbles where people rush in, and if you consider these amplifying demands, you are chasing the wrong opportunities.
Finally, AI entrepreneurship requires understanding the core value creation, the cost structure, and how much money the business generates. In addition, it is also possible you will upload your work to someone else’s platform, and then you are subject to platform changes. When you have reached real customers who know your work is important to them, then you will be successful in AI entrepreneurship.
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