#business # [[Epistemic status]] #shower-thought #to-digest # Changelog ```dataview TABLE WITHOUT ID file.mtime AS "Last Modified" FROM [[#]] SORT file.mtime DESC LIMIT 3 ``` # Related # TODO > [!TODO] TODO # Business 🔨 >Every successful business (1) creates or provides something of value that (2) other people want or need (3) at a price they’re willing to pay, in a way that (4) satisfies the purchaser’s needs and expectations and (5) provides the business sufficient revenue to make it worthwhile for the owners to continue operation. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] >Make something people want... There’s nothing more valuable than an unmet need that is just becoming fixable. If you find something broken that you can fix for a lot of people, you’ve found a gold mine. >~ [[Paul Graham - Hackers & Painters - Big Ideas From the Computer Age|Paul Graham]] >The best businesses in the world are the ones that create the most value for other people. Some businesses thrive by providing a little value to many, and others focus on providing a lot of value to only a few people. Regardless, the more real value you create for other people, the better your business will be and the more prosperous you’ll become. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] >Roughly defined, a business is a repeatable process that: >1. Creates and delivers something of value... >2. That other people want or need... >3. At a price they’re willing to pay... >4. In a way that satisfies the customer’s needs and expectations... >5. So that the business brings in enough profit to make it worthwhile for the owners to continue operation. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] >At the core, every business is fundamentally a collection of five Interdependent (discussed later) processes, each of which flows into the next: 1. Value Creation. Discovering what people need or want, then creating it. 2. Marketing. Attracting attention and building demand for what you’ve created. 3. Sales. Turning prospective customers into paying customers. 4. Value Delivery. Giving your customers what you’ve promised and ensuring that they’re satisfied. 5. Finance. Bringing in enough money to keep going and make your effort worthwhile. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] More like very practical thoughts, see [[Business 🔨]] for meta-thoughts. - [[How to build the future]] - [[Business/Ideas/Ideas]] - [[Wealth]] - [[Entrepreneurship]] All startups are born in [[Mediocristan]] and a few reach [[Extremistan]]. ### Non classified - [[Cofounder interview]] - [[Interesting new businesses and products]] ### Thoughts >The struggle for existence never gets easier. However well a species may adapt to its environment, it can never relax, because its competitors and its enemies are also adapting to their niches. **Survival is a zero-sum game.** Success only makes one species a more tempting target for a rival species. ~ [[Matt Ridley]] >He also deduced the inevitability of divergence or diversification-the fact that any successful type would inevitably diverge into two or more diverse types, each adapted to a somewhat different habitat or niche or way of life. ~ [[Julian Huxley]] about [[Darwin]], introduction to **The Origin of the Species**.