Advice to Small Business Owners-Warren Buffer, Jack Dorsey et al.
Authors: Warren Buffer, Michael Bloomberg, Kerry Healey, Lloyd Blankfein, Jack Dorsey, Marc Morial, Michael Porter
Top tips to small business owners from accomplished business leaders.
- 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.
- 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.
- How can you “delight” your customers?
- What is your business niche?
What Will I Learn?
- Motivates small business owners.