Everything You Need To Know About Business And Entrepreneur

young entrepreneur

I teach Masters of Business Administration. Here is everything you need to know…

…about business:

  1. Revenues minus Costs> equals Profit.
  2. If an initiative does not affect revenues or costs then it is not a business initiative.
  3. If costs remain higher than revenues for an extended period, you have what is known as a charity.
  4. If you don’t understand somebody it is probably because they don’t understand it either. Do not be fooled by big titles or expensive suits.

…and on being an entrepreneur:

  1. Read about lean startup. Do it backwards. Find customer first, build big gizmo only when a paying customer says they want it. Remain humble. Be scared when you think you “know” something.
  2. Do what you feel is right rather than what you feel “they” say you “should” do.
  3. Get mentors. Listen. Ask far more questions than ever before.
  4. Do it because of the day to day of the adventure. If you get rich, that is a bonus – but you will spend most of your life in the journey.

…and on life:

  1. Start now.

 

by Conor Neill, founder of 4 companies, blogger, and teacher, professor at IESE Business School. Linkedin, Twitter