Price is determined by an executive or a management team. They understand how much a product or service costs to make or deliver, add a margin of profit and the result is the “price”.
Value is the feeling every customer and potential customer puts on the product or service provided. Do not confuse value with price.
Most people ca
n make a plan. As long as you have a small grasp on business you can put some chicken scratch down on the back of a napkin.
A famous quote from business guru Michael Porter goes: “If your goal is anything but profitability – if it’s to be big, or to grow fast, or to become a technology leader – you’ll hit problems.” I think Derek Sivers proves this quote wrong. Ever since Derek started the amazing success story that CD Baby became, his goal was never profitability. In his book Anything You Want he hints at what a new generation of entrepreneur’s are focusing on: putting people first and profits second.
38 books you need to read on the topics of entrepreneurship, creativity, advertising, strategy, motivational, psychology, sociology & economics, new media, general business, presentations, and measurement. Let me know what you think and add one in the comments if I missed one.
Again, if there are any you think should be on the list please comment below and leave the link.
There is a man who lives in my city, I’ve seen him around for quite some time now but anytime I say hello or talk to him it’s like he doesn’t have the time of day and saying hello to me is a burden. He’s an asshole. I questioned my friend that knows him much better than I do and he said the same thing, “Yup, definitely an asshole.” So it’s confirmed, he is in fact an asshole. Maybe he doesn’t mean to (highly unlikely), maybe I come off the same way to him (I’m a smiler so highly unlikely) so why does he do it? I think some people are just not happy people, they don’t want to meet anyone else, they’re satisfied with their friend circle and yes maybe saying a cheery HI, HOW ARE YA!?!? to me is a burden.
But wait, there is a silver lining to my cloudy relationship with this asshole. Recently I heard he started his own company. HIS OWN COMPANY? An asshole trying to make it as a business owner? I had to see for myself and low and behold when I checked online he did start a company. Personally I Continue Reading
In Alan M Weber’s Rules of Thumb: 52 Truths for Winning at Business Without Losing Your Self, rule number 36 is: Managing your emotional flow is more critical than managing your cash flow. I had to write about this because I see and meet with entrepreneurs all the time that do a poor job of managing their emotions. Cash was king until I understood what an entrepreneur goes through, and if an entrepreneur really made cash king they would not succeed.
As a small business owner you must focus on your goal, your vision of where the company is going. If you don’t do everything in your power to get there (and that may be going into a pile of debt) you may never achieve your goal. There are a thousand and one things an entrepreneur needs to manage but without keeping your emotions in check everything else falls apart.
Tips on keeping your emotions in check:
