1. The husband and wife who open another delicatessen store or another Mexican restaurant in the American suburb surely take a risk. But are they entrepreneurs?
All they do is what has been done many times before. They gamble on the increasing popularity of eating out in their area, but create neither a new satisfaction nor new consumer demand.
Seen under this perspective they are surely not entrepreneurs even though theirs is a new venture.
McDonald’s, however, was entrepreneurship.
It did not invent anything, to be sure.
Its final product was what any decent American restaurant had produced years ago.
But by applying management concepts and management techniques (asking, What is “value” to the customer?), standardizing the “product,” designing process and tools, and by basing training on the analysis of the work to be done and then setting the standards it required, McDonald’s both drastically upgraded the yield from resources, and created a new market and a new customer.
This is entrepreneurship.
2. People who say "it's just business" are lying. It's a deceptive and manipulative tactic used by weak minds.
Anyone who has ever run or been in business knows that a business will fail if the relationships are not healthy. Business is the business of relationships. That is all.
3. Being good in business is the most fascinating kind of Art.
4. Figuring out what the next big trend is tells us what we should focus on.
5. In Business, perfection is the enemy of Profitability.
6. No man will work for your interests unless they are his.
7. If there's one thing that's certain in business, it's uncertainty.
8. It’s not about money or connections. It’s the willingness to outwork and outlearn everyone when it comes to your business.
9. Business opportunities are like buses: there’s always another one coming.
10. Create the things you wish existed.
11. You can’t have a million-dollar dream with a minimum-wage work ethic.
12. Hustle until you no longer need to introduce yourself.
13. Many will quit during the journey and that's your advantage.
14. They may forget your name, but they'll never forget how you made them feel.
15. You have no business being a marketer, unless you have empathy for people you are seeking to serve.
16. It’s hard to beat your competition when you’re copying them.
17. Before you send a proposal to a client, talk to the client first. Tell them “When we do this job, it costs between ___ and ___ dollars. Do you have that money to spend? Is that ok for you? If that’s ok for you, we will send a proposal.
- Chris Do
18. It doesn’t get easier, you just get better at it.
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19. Most “gurus” are just spewing bullshit and hoping that you’re a fly.
20. When you learn how much you're worth - you will stop giving people discounts.