The Personal MBA is a great overview of everything related to business. Josh explains concepts in such a way that anyone can understand them. Yet he goes into enough detail for everyone to come away with actionable points. I literally sat there with the book in one hand and my notebook in the other, creating action plans for the couple of businesses that I’m involved in. Here are my notes: Business is made of 5 things. It (1) provides something of value that (2) other people want or need (3) at a price they’re willing to pay, in a way that (4) satisfies the purchasers needs and expectations and (5) provides the business sufficient revenue to make it worthwhile for the owner to continue operation. Sales Starts with trust. No trust, no sale. Value based selling. What is it worth to … Read More
Unintended consequences from COVID-19 response
A recent book I read, Personal MBA by Josh Kaufman, talked about second-order effects. It states: “Every action has a consequence, and each consequence has another consequence. These are called Second-Order Effects. Every change you make to a system will have Second-Order Effects, which may affect the system’s functionality. Be careful when making changes, they may have the opposite effect of what you aimed for.” I’ve tried to apply that thought process to every change I’ve made since I read that book. For example, I have a dodgy knee. My initial solution was to rest it, or not use it as much. Makes sense right? If something is hurting, let it heal. But I went and saw a professional about it. Turns out that I need to do a different type of exercise to strengthen the knee. If I had … Read More