(More Comments On Entrepreneurialship Cont. 2)

Advice from Sir Richard Branson (of Virgin Fame) on entrepreneurship:

i) identify the gap in the market (then create a product and/or service that fills the gap and makes people's lives better; look around the marketplace and identify services and/or products that can be improved, eg made more convenient, etc)

ii) start small but always think big (technology, like social media, has allowed you to go beyond local markets and access the global market place)

iii) be prepared to modify the business model (so that it fits different regions, cultures, etc, eg Virgin Active has many different  health clubs around the world and they vary in subtle ways from country to country; the operations of Virgin Airlines in Europe is different from that in America and Australia; Virgin Money is different in South Africa and Australia, etc)