Business is Simple

Seriously, it really is… I know it doesn’t seem like it when you are in the trenches of running a company (of any size). But that is only because you have forgotten (or never knew) that all businesses are made up of several very simple premises (thanks Josh Kaufman for the summary):

  1. Businesses produce something of value
  2. That people want or need
  3. At a price people are willing to pay
  4. With enough profit to make it worth it to the owner

See?

Simple.

Ok, to be fair, if you get into the details of how to accomplish each of those four things, it can get a little complicated or confusing. But this is the first lesson that all business owners need to learn. We will get into the more complicated stuff later. But if you don’t fully grasp this, and can’t explain how your business does these four things, then you either A) don’t actually own a business or B) will never actually understand the more complex stuff.

People always overestimate how complex business is. This isn’t rocket science-we’ve chosen one of the world’s most simple professions. -Jack Welch

 

 

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