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Today I took a flight with the founder and chairman of a $5.0bn+ private company...
On the departing flight I asked, “What is the most important thing you need to start a biz?”
He smiled at me and said..
“Guts”
Then said, “and you need to know where the puck is going to be”
On the departing flight I asked, “What is the most important thing you need to start a biz?”
He smiled at me and said..
“Guts”
Then said, “and you need to know where the puck is going to be”
And then I asked “ok but what’s more important, marketing & sales or product quality?”
He answered “that’s a chicken and the egg.”
Said the same thing when I asked about what is more important to entrepreneurs, allocating time or money
He answered “that’s a chicken and the egg.”
Said the same thing when I asked about what is more important to entrepreneurs, allocating time or money
Then he told me, look, value comes in 4 forms...
1.) Price
2.) Quality
3.) Design/brand
4.) Deliverability
Be the best at one, preferably all 4
1.) Price
2.) Quality
3.) Design/brand
4.) Deliverability
Be the best at one, preferably all 4
Later he asked me if I knew what the important assets in business are..
I said “good customer service reps”
He laughed in my face before responding.
“Spies. You need to know your competition.”
I said, “ah, last chapter of Art of War, right?”
He couldn’t believe I knew that
I said “good customer service reps”
He laughed in my face before responding.
“Spies. You need to know your competition.”
I said, “ah, last chapter of Art of War, right?”
He couldn’t believe I knew that
He tossed me a few other bite size chunks of wisdom..
Learn business friendly languages (Spanish and Mandarin)
Manufacture in business friendly places (Southeast US)
Incentivize employees and have them compete against each other
Capitalism > communism any day of the week...
Learn business friendly languages (Spanish and Mandarin)
Manufacture in business friendly places (Southeast US)
Incentivize employees and have them compete against each other
Capitalism > communism any day of the week...
The departing flight, we barely talked. He just sat there, alone with his thoughts.
Another lesson in there
Another lesson in there
