Entrepreneurial Mind Quotes

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Success in life is not for those who run fast, but for those who keep running and always on the move.
Bangambiki Habyarimana (Pearls Of Eternity)
An entrepreneur is a man who knows he can fail, but he does not accept to fail before he actually fails, and when he fails he learns from his errors and moves on.
Bangambiki Habyarimana (Pearls Of Eternity)
But artists aren’t the only marginalized folks controlling real estate. Think about the colonizing role that wealthy white gay men have played in communities of color; they’re often the first group to gentrify poor and working-class neighborhoods. Harlem is a good example. Gays have moved in and driven up rents, as have renegade young white students, who want to be cool and hip. This is colonization, post-colonial-style. After all, the people who are “sent back” to recover the territory are always those who don’t mind associating with the colored people! And it’s a double bind, because some of these people could be allies. Some gay white men are proactive about racism, even while being entrepreneurial. But in the end, they take spaces, redo them, sell them for a certain amount of money, while the people who have been there are displaced. And in some cases, the people of color who are there are perceived as enemies by white newcomers.
bell hooks (Homegrown: Engaged Cultural Criticism)
Building a family is an entrepreneurial experience.
Richie Norton
Building a family is an entrepreneurial experience. No doubt about it. The family is the greatest and most important enterprise on earth. Lead yours with passion and joy!
Richie Norton
A touch of the jitters sharpens the mind, gets the adrenaline flowing and helps you to focus.
Richard Branson
A negative mind will never find success. I have never heard a positive idea come from a person in a negative state.
Jay Samit (Disrupt You!: Master Personal Transformation, Seize Opportunity, and Thrive in the Era of Endless Innovation)
Entrepreneur, if your're going to start up, make sure you start up with excellence in mind.
Onyi Anyado
The generic concept of capital without which economists cannot do their work has no measurable counterpart among material objects; it reflects the entrepreneurial appraisal of such objects. Beer barrels and blast furnaces, harbour installations and hotel-room furniture are capital not by virtue of their physical properties but by virtue of their economic functions. Something is capital because the market, the consensus of entrepreneurial minds, regards it as capable of yielding an income. This does not mean that the phenomena of capital cannot be comprehended by clear and unambiguous concepts. The stock of capital used by society does not present a picture of chaos. Its arrangement is not arbitrary. There is some order in it.
Ludwig Lachmann (Capital and Its Structure (Studies in economic theory))
And to start with I would focus on five of these killer apps that have immediate application to governing today: (1) the ability to adapt when confronted by strangers with superior economic and military might without being hobbled by humiliation; (2) the ability to embrace diversity; (3) the ability to assume ownership over the future and one’s own problems; (4) the ability to get the balance right between the federal and the local—that is, to understand that a healthy society, like a healthy tropical forest, is a network of healthy ecosystems on top of ecosystems, each thriving on its own but nourished by the whole; and, maybe most important, (5) the ability to approach politics and problem-solving in the age of accelerations with a mind-set that is entrepreneurial, hybrid, and heterodox and nondogmatic—mixing and coevolving any ideas or ideologies that will create resilience and propulsion, no matter whose “side” they come from. Of
Thomas L. Friedman (Thank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations)
Senior faculty nowadays similarly squirm when former 'dunderheads' return to campus to lecture on their prizewinning screenplay or to cut the ribbon for a building funded by their entrepreneurial acumen. How did such dullards metamorphose into geniuses?
Mark C. Carnes (Minds on Fire: How Role-Immersion Games Transform College)
The earlier the entrepreneurial mind-set is introduced in our young people, the more potent it can be. Start teaching young people to observe the needs of others and to think about how to satisfy those needs through voluntary trade and make a profit. When you see a store, discuss it. Point out prices. Point out quality. Raise their consciousness about ownership. Ask them who owns that building? What would that building sell for? How could we get money to buy that building? What problems does our community have? What new businesses would solve them?
Steve Mariotti (An Entrepreneur’s Manifesto)
After graduating from college, I was expected to find a good job. I didn't and instead dove into entrepreneurial ventures. My family thought I was crazy and proclaimed, “You're wasting a five-year education!” Peers thought I was delusional. Oh dear, delivering pizza and chauffeuring limousines while two business degrees hung from the wall?! Women wouldn't date me because I broke the professional, “college-educated” mold the fairy tale espoused. Going Fastlane and building momentum will require you to turn your back at the people who fart headwinds in your direction. You have to break free of society's gravitational force and their expectations. If you aren't mindful to this natural gravity, life can denigrate into a viscous self-perpetuating cycle, which is society's prescription for normal: Get up, go to work, come home, eat, watch a few episodes of Law and Order, go to bed … then repeat, day after day after day.
M.J. DeMarco (The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime!)
People come from all over the world to see what's happening in our area, to see the speed with which our technology is changing and what that means in terms of the economy and education, and that whole entrepreneurial spirit comes over to protecting the environment and dealing with education and other issues - just solving problems. Then you come back here [Washington D.C.] and you're engaged in debates based on old, stale assumptions. It's practically irrelevant to what is going on in the state...It's a state of mind that exists in our area that has to be represented at the table.
Marc Sandalow (Madam Speaker: Nancy Pelosi's Life, Times, and Rise to Power)
Reading this book, you will probably get motivated to take a major faith step, but life can stare you back in the face and tell you that you are stupid to believe that God will answer your prayer. The bottom line is, GOD CAN DO IT, and He will do it if you let Him. Numbers, 23:19 states, “God is not a man, that he should lie, nor a son of man, that he should change his mind. Does he speak and then not act? Does he promise and not fulfill?” Your entrepreneurial dream may seem impossible, but God can do it. Your finances might be in the worst shape that you have ever experienced in your life, but God can fix it. You might not have the education or the skill that you know is required to follow through on your dream, but God can supplement it. Will you trust Him to do it?
V.L. Thompson (CEO - The Christian Entrepreneur's Outlook)
As a conductor of orchestras, Ozawa is quite naturally in touch with a large number of people on a daily basis and has to act as the guiding member of a team. But no matter how talented he might be, people would not follow him if he were constantly moody and difficult. Interpersonal relations take on a great significance. A conductor needs like-minded musical colleagues, and he is often called upon to perform social and even entrepreneurial tasks. He has to give much thought to his audiences. And as a musician, he has to devote a good deal of energy to the guidance of the next generation. By contrast, as a novelist I am free to spend my life hardly seeing or talking to anyone for days at a time, and never appearing in the media. I rarely have to do anything that involves teamwork, and while it’s best to have some colleagues, I don’t especially need any. I just have to stay in the house and write—alone. The thought of guiding the next generation has never crossed my mind, I’m sorry to say (not that anyone has ever asked me to do such a thing).
Haruki Murakami (Absolutely on Music: Conversations with Seiji Ozawa)
Unlike John Lasseter’s bosses at Disney, Bezos was open to the entrepreneurial contributions of Amazon’s individual employees—even when those ideas were outside what Wall Street (and even his own board of directors) considered the company’s core business. AWS represents precisely the kind of value creation any CEO or shareholder would want from their employees. Want your employees to come up with multibillion-dollar ideas while on the job? You have to attract professionals with the founder mind-set and then harness their entrepreneurial impulses for your company. As Intuit CEO Brad Smith told us, “A leader’s job is not to put greatness into people, but rather to recognize that it already exists, and to create the environment where that greatness can emerge and grow.
Reid Hoffman (The Alliance: Managing Talent in the Networked Age)
We all have a little entrepreneur inside of us. Wanting to leverage it is what gives us an entrepreneurial spirit and an entrepreneurial mind. Actually doing it makes one an entrepreneur.
K. Abernathy Can You Action Past Your Devil's Advocate
Entrepreneurial employees possess what eBay CEO John Donahoe calls the founder mind-set. As he put it to us, “People with the founder mind-set drive change, motivate people, and just get stuff done.
Reid Hoffman (The Alliance: Managing Talent in the Networked Age)
THE OPPORTUNISTS These entrepreneurs did not plan to take this path but when opportunity knocked they seized it. Their stories go to show that you don’t have to be ‘born with it’, you can develop an entrepreneurial bent of mind at any age.
Rashmi Bansal (Stay Hungry Stay Foolish)
Entrepreneurial business favors the open mind.
Richard Branson
We need to deal with corruption head on. If you don’t, you cannot have a widespread entrepreneurial culture. Corruption must be treated as treason against the nation.We must focus on individual rights -- not group rights, principles -- not rituals. We confuse rituals with principles, and focus on results, not goals.
Benedict Paramanand (CK Prahalad: The Mind of the Futurist - Rare Insights on Life, Leadership & Strategy)
Page 259: The bottom line is this. Democracy can be inimical to the interests of market-dominant minorities. There were good reasons why the Indians in Kenya and whites in South Africa, Zimbabwe, and America’s Southern states resisted democratization for generations. Market-dominant minorities do not really want democracy, at least not in the sense of having their fate determined by genuine majority rule. Some readers will surely protest. Many market-dominant minorities—the Chinese in Malaysia, for example, or Jews in Russia, and Americans everywhere—often seem to be among the most vocal advocates of democracy. But “democracy” is a notoriously contested term, meaning different things to different people. When entrepreneurial but politically vulnerable minorities like the Chinese in Southeast Asia, Indians in East Africa, or Jews in Russia call for democracy, they principally have in mind constitutionally guaranteed human rights and property protections for minorities. In other words, in calling for democracy, these “outsider” groups are precisely seeking protection against “tyranny of the majority.
Amy Chua (World on Fire: How Exporting Free Market Democracy Breeds Ethnic Hatred and Global Instability)
identify your employee adjectives, (2) recruit through proper advertising, (3) identify winning personalities, and (4) select your winners. Step One: Identify Your Employee Adjectives When you think of your favorite employees in the past, what comes to mind? A procedural element such as an organized workstation, neat paperwork, or promptness? No. What makes an employee memorable is her attitude and smile, the way she takes the time to make sure a customer is happy, the extra mile she goes to ensure orders are fulfilled and problems are solved. Her intrinsic qualities—her energy, sense of humor, eagerness, and contributions to the team—are the qualities you remember. Rather than relying on job descriptions that simply quantify various positions’ duties and correlating them with matching experience as a tool for identifying and hiring great employees, I use a more holistic approach. The first step in the process is selecting eight adjectives that best define the personality ideal for each job or role in your business. This is a critical step: it gives you new visions and goals for your own management objectives, new ways to measure employee success, and new ways to assess the performance of your own business. Create a “Job Candidate Profile” for every job position in your business. Each Job Candidate Profile should contain eight single- and multiple-word phrases of defining adjectives that clearly describe the perfect employee for each job position. Consider employee-to-customer personality traits, colleague-to-colleague traits, and employee-to-manager traits when making up the list. For example, an accounting manager might be described with adjectives such as “accurate,” “patient,” “detailed,” and “consistent.” A cocktail server for a nightclub or casual restaurant would likely be described with adjectives like “energetic,” “fun,” “music-loving,” “sports-loving,” “good-humored,” “sociable conversationalist,” “adventurous,” and so on. Obviously, the adjectives for front-of-house staff and back-of-house staff (normally unseen by guests) will be quite different. Below is one generic example of a Job Candidate Profile. Your lists should be tailored for your particular bar concept, audience, location, and style of business (high-end, casual, neighborhood, tourist, and so on). BARTENDER Energetic Extroverted/Conversational Very Likable (first impression) Hospitable, demonstrates a Great Service Attitude Sports Loving Cooperative, Team Player Quality Orientated Attentive, Good Listening Skills SAMPLE ADJECTIVES Amazing Ambitious Appealing Ardent Astounding Avid Awesome Buoyant Committed Courageous Creative Dazzling Dedicated Delightful Distinctive Diverse Dynamic Eager Energetic Engaging Entertaining Enthusiastic Entrepreneurial Exceptional Exciting Fervent Flexible Friendly Genuine High-Energy Imaginative Impressive Independent Ingenious Keen Lively Magnificent Motivating Outstanding Passionate Positive Proactive Remarkable Resourceful Responsive Spirited Supportive Upbeat Vibrant Warm Zealous Step Two: Recruit through Proper Advertising The next step is to develop print or online advertising copy that will attract the personalities you’ve just defined.
Jon Taffer (Raise the Bar: An Action-Based Method for Maximum Customer Reactions)
Like the team at the FDA, the EIR team enlisted entrepreneurs familiar with the obstacles, including SoftLayer senior executive Paul Ford, to work alongside the USCIS personnel committed to removing or clearing them. “You get fresh thinking, you get a very low-cost way of trying to impact the situation because the people doing this are committed to try to find what’s not working and propose solutions, rather than take a partisan or political or hierarchical or structural view to the environment,” Feld said. “They’re short-timers, so they’re committed for a period of time to come do something, but they’re not here for career advancement, so they are going to speak their mind.” Feld also believed that the presence of Ford and other outside entrepreneurs made the participants feel more comfortable to speak freely than if they had been working with government officials alone. In the spring of 2012, the team began building a prototype of an alternative application process for entrepreneurs and by fall had achieved a significant breakthrough: the launch of the Entrepreneurship Pathways web portal, designed to close the information gap between USCIS and those in the entrepreneurial community, by letting them know which visa may be most appropriate—including the O-1—for their situation.24 While the results of this exercise were not empirically conclusive at the time of an interview for this book, Feld did offer his anecdotal assessment “that there’s an increased number of people who I know have been able to get into the country and get valid visas who are entrepreneurs. I’ve definitely heard a decrease in the negative.
Aneesh Chopra (Innovative State: How New Technologies Can Transform Government)
8 Ways to Work Smarter and Improve Productivity We as a whole have a similar measure of time in a day, and there is no real way to get a greater amount of it. It doesn't make a difference how effective or well off one is - we are altogether topped at 24 hours for every day. We need to subtract some to sleep, eating, driving and simply living everyday lives - the time left for entrepreneurial undertakings is once in a while enough. However, there is an approach to expand that time, and it includes working more brilliant - not harder. Utilize the eight hints beneath and you will accomplish more in a shorter timeframe. 1. Ensure you cherish what you do 100 percent. This is entirely basic. When you completely adore what you do, it doesn't feel like work. It sounds so buzzword, yet it's flawless. I adore what I do, and I get up each morning energized for what is coming down the road. A late night or long travel day doesn't make a difference - I hop up out of bed each morning without a wake up timer. When you are really enthusiastic about what you are doing you remain laser centered, which normally brings about high profitability. In the event that you are hopeless and abhor what you are doing, paying little mind to how much cash you are making, you won't be energized and your profitability will go directly down the deplete. 2. Grasp innovation. In the event that you decline to grasp innovation you will put yourself at a noteworthy weakness. There are program augmentations, applications and robotization programming to help practically every part of your business and everyday duties. Quite a while back, it wound up noticeably conceivable to maintain your whole business in a hurry from your portable workstation. Today, the same is conceivable from your cell phone. We have mind boggling apparatuses accessible to us that give us finish area opportunity. Thump out errands while driving, doing cardio at the exercise center or sitting tight for a flight - having your whole business readily available can radically build your profitability. 3. Use your systems administration connections. Think about the time and exertion you burn through systems administration - being dynamic via web-based networking media, going to meetings and conversing with everybody. Set aside the opportunity to truly make a strong system and really use the quality of others to help your business. You need to give before you can hope to get, so make it a point to help however many individuals as could be expected under the circumstances. The connections you assemble while doing this can prove to be useful down the line, and when you have a system of experts to help you in specific zones, you gain from the best, as well as don't need to do all the truly difficult work alone. 4. Measure accomplishment in assignments finished, not hours worked. Many people are hung up on the quantity of hours works. Disregard saying "I worked 12 hours today" and rather concentrate on the quantity of assignments you finished. When you are a business person, hours worked amount to nothing - you aren't checking in. Assignments finished, not number of hours, manage achievement. As you figure out how to thump out errands speedier, you accomplish more. Most business people are normally aggressive, so make an individual rivalry and attempt to up your execution as far as every day assignments finished. Do this and watch your profitability shoot through the rooftop. 5. Delegate your shortcomings. I was always wore out until the point when I figured out how to appoint. Now and then, we think we are superhuman and can do everything, except that is basically not the situation.
Chasehuges
These founders didn’t necessarily start billion-dollar companies because they worked at Google, Oracle, or IBM. Instead, perhaps those brand-name companies attracted the most ambitious and entrepreneurially minded people in the first place.
Ali Tamaseb (Super Founders: What Data Reveals About Billion-Dollar Startups)
Just for a minute, if there were no limits to what is possible, what would you envision your entrepreneurial company providing you? The first thing that pops into almost everyone’s mind is financial independence. I agree. I totally agree. But there is more, isn’t there? What if building your business made you feel emotionally satisfied, totally happy? What if your business made a difference? What if you woke up every morning excited to work? What if people loved your company? What if the world heralded what you did and happily consumed what you had to offer?
Mike Michalowicz (The Toilet Paper Entrepreneur: The tell-it-like-it-is guide to cleaning up in business, even if you are at the end of your roll.)
The former head of this operation, Gary Wendt, who is credited with much of the enormous success of GEFS, used his personal agenda as a simple but inordinately powerful tool for growing the business into ever new entrepreneurial arenas. Over the years, he used his personal agenda to make it unequivocally clear that he expected entrepreneurial business growth from every member of management. At every major meeting, the topic of business development was on the agenda (usually in the number one spot). In every annual review, managers were asked to demonstrate the revenues they had created from businesses that did not exist five years before. From division heads to newly hired analysts, everyone was held accountable for some set of activities having to do with creating entrepreneurial revenue and profit streams. In short, no one who worked in the organization could avoid the unremitting focus on new business development. You need to make sure that you are similarly consistent, predictable, and focused, and that you sustain this emphasis over a long period. Pressure applied only once is soon forgotten, and alternating pressure (as in flavor-of-the-month management) will cause people to be confused, disillusioned, or angry. Wendt’s consistent, visible, and predictable attention to business development created a pressure in GEFS for entrepreneurial business growth that took it from the $300 million installment loan portfolio we looked at in chapter 6 to a financial services behemoth with $250 billion in assets under management when he left in 1998. Examples of Wendt’s single-minded determination to drive growth through entrepreneurial transformation at GEFS are numerous. Years ago, for instance, he was asked whether his agenda would change if someone rushed in and told him that the computer room was on fire (implying that his business could be completely destroyed). Wendt replied that he employed firefighters to handle such emergencies. As the leader, his most important job was to keep people focused on business development. Since business development is an uncomfortable and unpredictable process, Wendt knew that if he allowed it to appear to be a low priority for him, all those working for him would heave a sigh of relief and go back to business as usual, with new businesses struggling to find a place on the priority list. In fact, as he remarked, even if he did try to get involved in putting out the fire, he would probably only interfere with the efforts of the highly competent people employed to do so.
Rita Gunther McGrath (The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty)
James points to the way in which selfish capitalism stokes up both aspirations and the expectations that they can be fulfilled. ... In the entrepreneurial fantasy society, the delusion is fostered that anyone can be Alan Sugar or Bill Gates, never mind that the actual likelihood of this occurring has diminished since the 1970s – a person born in 1958 was more likely than one born in 1970 to achieve upward mobility through education, for example. The Selfish Capitalist toxins that are most poisonous to well-being are the systematic encouragement of the ideas that material affluence is they key to fulfillment, that only the affluent are winners and that access to the top is open to anyone willing to work hard enough, regardless of their familial, ethnic or social background – if you do not succeed, there is only one person to blame.
Mark Fisher (Capitalist Realism: Is There No Alternative?)
Imperfection is a part of any creative process and of life, yet for some reason we live in a culture that has a paralyzing fear of failure, which prevents action and hardens a rigid perfectionism. It's the single most disempowering state of mind you can have if you'd like to be more creative, inventive, or entrepreneurial.
Jo Boaler (Mathematical Mindsets: Unleashing Students' Potential through Creative Mathematics, Inspiring Messages and Innovative Teaching (Mindset Mathematics))
Our mind has the power to heal us. When you can control your mind and develop a strong mindset, you can reinvent yourself, you can change, you can accomplish one dream after another, and improve your odds in overcoming tough times.
Chris Jankulovski (A Journey of Healing, Entrepreneurial Success, and the Creation of an Impactful Life)
Facing my mortality put me at peace with my life. I became more receptive to life; I became clearer about what my higher purpose was and accomplished anything I set my mind to.
Chris Jankulovski (A Journey of Healing, Entrepreneurial Success, and the Creation of an Impactful Life)
Dreams have to be converted to reality by work, and effective work requires proper tools.
Kenneth C. Aldrich (Dream Toolbox: Building an Entrepreneurial Mind and Financial Abundance)
Ecosystems require organizations that are constantly on the lookout for new possibilities, constantly scanning the horizon for new opportunities to make cross-sectoral plays and forge cooperative partnerships with others. Organizations can only be open to those possibilities and opportunities when their employees are curious and open minded. And employees are most likely to be curious and open minded when their leaders are holistically looking out for their best interests and actively searching for ways to provide them with everything they need. This is clearly most relevant to those within the senior ranks of your organization, but it really applies to everyone who serves in key roles. Above all, servant leadership helps organizations adopt all of the ideals that the ecosystem economy demands: openness, entrepreneurialism, decisiveness, a fail-fast mindset, long-term thinking, and more.
Venkat Atluri (The Ecosystem Economy: How to Lead in the New Age of Sectors Without Borders)
Here are some tips on finding a mentor: 1. Identify who could be a good mentor for you. Remember, you don’t need to aim too high; somebody simply a couple of years ahead of you on their journey might be enough. 2. Get their attention ‒ break through the noise. These people receive huge numbers of messages asking for help and advice, and offers to meet for lunch or coffee so that their brains can be picked. Naturally, they put most of these long emails (they’re often really long) straight in the junk folder to protect the most valuable thing for them ‒ their time. Bear that in mind. To break through the noise, you need to be straight to the point and you need to do Step 3… 3. Seek to add value. Just because potential mentors are successful or higher status, this doesn’t mean you can’t add value to them. Have faith that you have some way of helping them. Study what they’re doing. Are they involved in any philanthropy or social impact causes? How can you help? That’s a great way to get their attention. 4. Act normal. This applies wherever there’s an imbalance of status. For example, when you meet somebody that you’re interested in romantically, and you feel as if they’re probably ‘out of your league, you have to not let that make you behave strangely. If you are too deferential, too reverent, and basically tripping over yourself to do stuff for them because you perceive them to be on another level, then they are unlikely to feel attracted to you. And conversely, sometimes acting ‘not normal’ means you go the other way, and behave like a schoolboy pulling the pigtails of the girl he fancies, going too far in overcompensating. Again, that is not good. Be pleasant to be around. 5. Apply what your mentor advises you to do as quickly as possible, then immediately feedback to them on the outcome of the action. This feedback loop will generate and strengthen the mentor-mentee relationship in the fastest possible way, because entrepreneurial mentors love coachable people who take action. And they feel more and more responsibility when they’re the ones directing your action and you’re coming back to them to report what happened. It’s like an interesting and fun game for them, and they want to know that they’re helping you in a tangible way. Be coachable.
Hasan Kubba (The Unfair Advantage: How You Already Have What It Takes to Succeed)
Most entrepreneurs have a solution in mind at the outset. That’s good, but Double-Diamond Design asks you not to become too emotionally attached to that solution. Rather, you should stay open to possibility: More pressing unmet needs or better solutions might be out there. Entrepreneurs who fall victim to a false start are closed to these possibilities; they jump directly to the end of the design process.
Tom Eisenmann (Why Startups Fail: A New Roadmap for Entrepreneurial Success)
These entrepreneurs did not plan to take this path but when opportunity knocked they seized it. Their stories go to show that you don’t have to be ‘born with it’, you can develop an entrepreneurial bent of mind at any age.
Rashmi Bansal (Stay Hungry Stay Foolish)
Chinese and American companies have already kick-started this process, leaping out to massive leads over the rest of the world. Canada, the United Kingdom, France, and a few other countries play host to top-notch talent and research labs, but they often lack the other ingredients needed to become true AI superpowers: a large base of users and a vibrant entrepreneurial and venture-capital ecosystem. Other than London’s DeepMind, we have yet to see groundbreaking AI companies emerge from these countries. All of the seven AI giants and an overwhelming portion of the best AI engineers are already concentrated in the United States and China. They are building huge stores of data that are feeding into a variety of different product verticals, such as self-driving cars, language translation, autonomous drones, facial recognition, natural-language processing, and much more. The more data these companies accumulate, the harder it will be for companies in any other countries to ever compete.
Kai-Fu Lee (AI Superpowers: China, Silicon Valley, and the New World Order)
Most businesses hustle to create revenue, pay out their various expenses, and with any luck, there’s a little profit left over for the owners.  Here’s what you’re probably learning in business school: Revenue minus expenses equals profits.  Sounds sensible, right?”  He paused for the group of nodding heads.  “Well, it’s not!  It is completely backwards.  It should be taught:  Revenue minus PROFITS equal expenses.” Our chaperoning professors did their best to hide their cloudy faces, but it was clear Mr. X didn’t mind offending them.  “Don’t wait to see if there’s anything left over for a profit.  By carving out a margin before you address expenses, you create a constraint on the resources available.  This constraint unlocks your creativity to meet customers’ needs, streamline operations, and only spend money on that which truly generates value.  There’s no room left for fluff and bloat.  Difficult decisions on how you should run your business become obvious. No longer fat, dumb and happy, maybe you make that extra sales call or hold off on that unnecessary expense.  Business is very competitive, and the difference between the Hall of Fame and the graveyard can be remarkably thin.  Everyone says they want to run a tight ship, but the best way to harness your entrepreneurial verve is to tie your own hands to the yarak mast.  It will turn all of your business SHOULDS into business MUSTS.  I’ve spent a lot of time finding different places to apply the idea of yarak, and it never ceases to amaze me how helpful it is.  So that’s my eighty-twenty secret.  Shh… don’t tell anyone,” he whispered.
Jacob Taylor (The Rebel Allocator)