Authors: Warren Buffer, Michael Bloomberg, Kerry Healey, Lloyd Blankfein, Jack Dorsey, Marc Morial, Michael Porter

Overview

Top tips to small business owners from accomplished business leaders.

Highlights

• Clarify, articulate and communicate the purpose of your business.
• Work hard, there is no substitute for hard work.
• Do not get discouraged, learn from mistakes and failures, then move on.
• Stay focused amidst challenges.
• Get your products close to your customers.
• Have a clear strategy why you are different, create a niche.

Story – Jack Dorsey

• He is co-founder of “Twitter” and the founder and CEO of “Square”
• At the beginning, many viewed Twitter as “nonsense” and even compared it with an ice cream, saying that “both are tasty and equally useless”
• Twitter got a break when Fred Wilson sponsored the project by providing half a million-dollars funding.
• Twitter is a huge success with over 300 million active users and $50 billion market capitalization.

Deep Insight

• It is more important to “delight” your customer than to “satisfy” them.
• You may start up with one business and translate to another.
• “Skills” can be learnt and taught but “passion” cannot.

Application

• How can you “delight” your customers?
• What is your business niche?

References:

• https://www.youtube.com/watch?v=0PbjZ01ObLA