Jeremy Bentham teaches us Entrepreneurship
Jeremy Bentham (1748-1832) taught us many things, Philosophy, Law, Politics, Mathematics, Economics and gave us “UTILITARIANISM” and “Greatest Happiness Principle”. Still today, he is considered as the most Modern Philosopher.
Let him teach us “Entrepreneurship” ….
Jeremy Bentham quotes in ‘Principles of Morals and Legislation’ –
“ Nature has placed mankind under the governance of two sovereign masters, pain and pleasure. ”
Thus, whenever you come up with some Product /Idea /Service, just need to see two words – ‘Pain‘ and ‘Pleasure‘.
You have a Product /Idea /Service, so think – “ what ‘pain’ of customer/consumer* my Product /Idea /Service is alleviating ”.
You want to write about your Product /Idea /Service, just write about the ‘pain’ being experienced by the customer/consumer and how your Product /Idea /Service is alleviating that ‘pain’.
You want to create so-called ‘Elevator pitching’; just focus on keywords of ‘pain areas’ which your Product /Idea /Service helps soothing.
You want to Price your Product /Idea /Service, just quantify the ‘Pleasure’ experienced by your customer/consumer.
You want to develop USP for your Product /Idea /Service, just focus that, how your Product /Idea /Service is alleviating ‘pain’ and providing ‘pleasure’ better than others.
You want to disrupt the market with some new innovative creative Product /Idea /Service, just observe the ‘pain’ being experienced by customer/consumer and how you may convert that ‘pain’ into ‘pleasure’ through a completely new Product /Idea /Service, which is not available till now.
Starting with these words “ Nature has placed mankind under the governance of two sovereign masters, pain and pleasure. ” Jeremy Bentham further continued in ‘Principles of Morals and Legislation’ – “ They alone point out what we ought to do and determine what we shall do. ”
So, entire ‘Entrepreneurship’ is just ‘Pain’ and ‘Pleasure’ principle … simple, yes, Entrepreneurship need not be complex, India needs “Entrepreneurs” like you, and its simple, just Go ahead …
Do not Forget to share with wannabe Entrepreneurs!
* For the beginners – Customer and Consumer are two different terms, the one who consumes is consumer and the one who pays is customer. In many cases the customer and the consumer may be the same, whereas in many cases they might be different as well.
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