Notes from reading, mostly paraphrased:
Write the book that you want to read
Research the field in which you want to work
Consider carefully how hard you want to work
Find mentors, learn from everyone
Develop a deep knowledge about the fundamentals of the business
Focus your attention and creativity on basic things that people need and want
Ask yourself – “Is there a use for my idea in her life?” Find out what the world needs
Brainstorm, use a team when possible
Ideas
- Is your idea better than alternatives on the market?
- Is your idea simple for you to develop and for customers to understand?
- Cross out elements that complicate the picture or overtax your resources
- Is your idea affordable?
- Is your idea too big? Don’t take on too much too soon. Go step by step.
- Can you expand or extend your idea?
- Does your idea make the world better?
- Capture ideas immediately. Carry notebooks and take photographs.
When planning your business, look at it with a telescope, a wide-angle lens, and a microscope.
Love all key elements of your business
Invest in exploring all details of your passion. See your path.
Describe your business consistently and confidently when talking to all sorts of people
Assemble your materials first
Ask for help
Take time to save money and avoid false economies
Analyze risks and threats
Create a frugal culture
Share your knowledge with the customers
Test ideas with customers, get feedback. Customers are your best consultants.
Give information away
Paint a happy picture in which your customer appears
See beyond the initial transaction
Promote yourself as an expert
Quality is the top priority, always
Quality should be included in your vision statement
Invest in your reputation
Offer something superior
Quality must be the last thing to be sacrificed: make it a core value of the company
Assemble an informal advisory team
React, but don’t panic when setbacks occur
Companies falter not once, but many times
Separate reasonable risk from careless chance
You will always have more chances. Don’t do something that you aren’t prepared to do just because you think you won’t have another chance. Business opportunities are not rare objects.
Make it beautiful