LIFE LESSONS
Essential Pillars For Any Business To Flourish
Extract from “The Personal MBA” by Josh Kaufman
The Personal MBA by Josh Kaufman is the best business book I have ever read. I have learned heaps from this book and I wish I could have read it earlier.
I have written a series on this book and have published it in the publication “Professional Development”.
But here are the 10 key lessons that I have learned and will be carrying for life.
1. Two Rules to keep in Mind about business
(a) If money is the only thing that you have in mind, you may quit well before you see any positive cash flow, and
(b) It is easy to forget that there’s often a huge difference between an interesting idea and a solid business.
2. Consider 10 factors before starting a new business
Urgency, Market Size, Pricing Potential, Cost of Customer Acquisition, Cost of Value Delivery, Uniqueness of the offer, Speed to Market, Upfront investment, Upsell Potential, and Evergreen potential (publishing a book, which is a one-time task vs consulting that will be ongoing work).
