Business for Beginners: Getting Started

“We must be good consumers of capital – using it to create maximum value for ourselves, our family, our customers – that’s productivity.”

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“Think of any product or service and beneath the surface, you’ll see it’s just a value exchange.”

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“People have to be able to access your businesses product or service. They have to notice your product or service among alternatives. And they have to feel an authentic connection.”

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“If someone does not perceive a product or service as one that adds value to their life, they will not buy it – even if that thing actually will provide value.”

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“Only by serving others can we serve ourselves. Only by improving other peoples lives can we acquire wealth as a result of them paying us or buying the products or services sold by our business.”

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“Think of all the kinds of businesses that have ever existed. They all had one thing in common. They sold something that people needed, wanted or desired at the time. They sold something that a group of people perceived as something that would improve their lives in some way.”

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“Capital must be stewarded - it must be acted upon with a spirit of responsibility.”

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“When we act upon capital as stewards, we not only retain it - we multiply it. We grow it. We expand it. And we perpetuate it to impact more and more lives in meaningful ways.”

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“I like to use things in nature as analogous to the way we should use capital in a business and economic sense.”

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“Products and services of every kind are really just platforms for value creation.”

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“Business is really an altruistic thing. Only by serving others can we serve ourselves.”

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“We live in a time of consistent and persistent change. As new technologies emerge and new sociology-political realities take form, the economy and the context of business changes also.”

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“When things are orderly, it reduces the possibility of waste. When things are orderly, it maximizes efficiency. Eliminating waste and maximizing efficiency both lend themselves to profit.”

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“Ultimately it boils down to a simple equation: income minus expenses equals profit. There are certain ways of being that maximize or minimize income. There are certain ways of being that maximize or minimize expenses. Administration done well is about aligning the business with the ways of being which maximize income, and the ways of being which minimize expenses.”

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