Thread by @mastersinvest

‘It is far more attractive for a company to offer better quality than a lower price. Price is important, but if that's all you have to offer customers, then eventually you're just a commodity & you hit a dead end in the market.’

Jim Koch, founder & brewer Samuel Adams

#quality

‘…..You're stuck always trying to be the lowest-price provider, cutting corners to reduce your costs.
Somebody can always underprice you by cutting more corners….’

‘It seems much more interesting, creative, and profitable to focus on adding value by upping product quality rather than just trying to do what others have already done, just a little cheaper.’

‘Take some risks; blow it all up if you have to. And start anew. After all, most risks aren't really risky. Isn't the biggest risk of all that you'll waste your life doing what you don't really enjoy doing, making compromise after compromise.’ Jim Koch

'A small company with a great culture and values can beat much bigger companies that are flush with money and resources. It's the strength of the weak.'

- Jim Koch, founder & brewer Samuel Adams

'In my experience, a high-morale group, properly motivated and incentivised, can out-perform a low-morale peer group by a factor of 5X or more. The typically untapped, latent potential of human beings is stunning, and can be unleashed by the right cultural framework.' P Kaufman

‘I constantly asked myself “Do I really need this?" I focused on only 2 things: making great beer & working our butts off to sell it. I would spend on these two without hesitation, but on nothing else. If something didn't help me do what’s best for the beer, it wasn't a priority’

'Every expense we made, every department we created, every project we took on had to answer to the basic question: Will this help to create & serve customers? If the answer was not a ringing ‘Yes?’ whatever it was we were spending or undertaking had to be eliminated.' D Keogh, KO