Jack Ma is quickly becoming one of my favourite small business teachers. I find his business advice very useful for small business owners. He openly admits that his company has made mistakes along the way, and says its a good thing as it is part of the learning process…and the path to success.
Take a look, its well worth the time to watch.
A Jack Ma Quote from this video: “Hire people to work on the vision you agree on together.” And Ma also says that the world is changing from standardization to personalization.
This I agree with and will keep in mind while growing my business, Decato Agency.
Every time I watch a Jack Ma video I pick up some golden nuggets.
How does one start a business and how does the business keep alive.
I have read lots of books that usually all point to the same concept.
- Do something that people want, and that is good for them
- Do something that your competition doesn’t do, this brings the customers in
It seems to be that simple. For anyone starting a business and trying to do the same thing that others are doing it is probably 100 times harder to get customers without the 2 rules mentioned above.
The next part of it is that you need the minimum viable product.
Why is this so important? It took me a long time to realize this because I like to think big and go for it all and want to have the most amazing product or service possible. However, while considering the first two rules I have learned to keep in mind that being able to do what your competitors can do, plus one thing that makes you better, and then realizing that the most efficient thing to do is have the one thing you can do better be your selling feature and thing thing you do better does not need to make you 100 times better than your competition, 10 times better is enough.
If someone tries to make a 100 times better product it will likely take a lot longer and consume a huge amount of resources and may result in not having a product of service to sell (because its still in development) and then there is no cash coming in and the company dies.
The alternative is doing something a little better, using less resources and having a product of service to sell.
As the company grows from selling the first mvp, the product or service can be updated to include even more features for customers and this will continue to bring in more customers and offer more stuff to sell existing customers and this is how it grows.
So, I think most people try to accomplish too much too fast (i have done this a lot). And essentially relaxing and chilling out while taking it one step at a time is the way to master business.
But, don’t take my word for it… take a look around and see if you get this message from billionaires such as Elon Musk…as in the video below:
Yesterday I watched a Tai Lopez youtube video and he was at some amusement park and a random guy started talking to him. Near the end of their conversation the guy mentioned he was reading a book call Think Fast and Slow. Tai also highly recommended it so I took a look and found a bunch of videos on youtube about the book and the author.
So here is a video of a google talk the author did:
Its kind of interesting and this dude has one a nobel prize… and he is a psychologist but one a nobel prize in economics. To me, that means this dude is on to something. And I suppose that some dude that has one a nobel prize in economics might write a good book.
I haven’t read the book yet…but it is likely to be the next one I read.
I have recently been turned on to Robert Greene as he has an interesting story and how his book the 48 laws of power came about intrigued me. And, who ever thought this would happen, be partnered with 50 cent to write the 50th law.
Here is a slick video about the book:
How does one take their life to a whole new level… the answer might be in the video below. Take 10 minutes and see if it helps to change you.
What dream do you want to turn into reality?
Let me know your comments below!
Every single day its important to stay focused and getting on with getting on.
There is a lot to learn about ourselves and getting on sometimes requires some work.