The personal MBA
Value Creation
Make someone else’s life a little better
5 parts of every business
A business is a repeatable process that makes money, everything else is a hobby
Creates and delivers something of value…
That other people want or need…
At a price they’re willing to pay…
In a way that satisfies the customer’s needs and expectations…
So that the business brings in enough profit to make it worthwhile for the owners to continue operations
A venture that doesn’t create value for others is a hobby
A venture that doesn’t create attract attention is a flop
A venture that doesn’t sell the value it creates is a nonprofit
A venture that doesn’t deliver what it promises is a scam
A venture that doesn’t bring in enough money to keep operating will inevitably close
5 interdependent processes
Value Creation: discovering what people need or what, then creating it
Marketing: attracting attention and building demand for what you’ve created
Sales: turning prospective customers into paying customers
Value delivery : giving your customers what you’ve promised and ensuring that they’re satisfied
Finance: brining in enough money to keep going and make your effort worthwhile
Marketing
Sales
Value Delivery
Finance
The Human Mind
Working with Yourself
Working with Others
Understanding systems
Analysing systems
Improving systems