Innovation key to creating value

Why do some entrepreneurs become billionaires while others barely make enough to survive?

The answer is quite simple: One has figured out how to create value; the other hasn’t.

A primary goal for anyone starting a business should be to create real value, or to earn a higher return than an investor could earn elsewhere for the same risk. The concept of value is one of the central issues in finance. Understanding it helps entrepreneurs make better business decisions.

By Hal Heaton
Brigham Young University

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