Digitalization allows entrepreneurs to disrupt traditional markets and deliver new services overnight. However, over 85% of new initiatives fail. Success for Amazon, GE, and global entrepreneurs starts with clarity of mission, market and customer needs plus the definition of the business model and market approach to creating value.
For example, Amazon's mission to build a place where people can find anything they might want to buy was the foundation behind their start as online bookseller through growth into the global provider for a vast array of offerings. This is powered by the business model of the consumer (Prime) and business (AWS) services.
By starting with a clear mission, business leaders are best able to identify the market, service and business model that will drive success.
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