The Personal MBA

1 min. read

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
Value Delivery
The Human Mind
Working with Yourself
Working with Others
Understanding systems
Analysing systems
Improving systems