Business at its core

Essentially business is the exchange of value from one party to another. It is a repeatable process that makes MONEY, and without VALUE creation, a business can’t exist. (See The Personal MBA). Simply put business requires the business owner to provide value by solving problems at an competitive cost and you don’t have to recreate the wheel. The more problems you can solve the more value you provide. The fastest way to create a successful business is to scan your environment, search for voids that can be filled and fill them. For example you may reside in a particular community that suffers from graffiti, trash ridden parks and nearby playgrounds etc. that’s a problem and now that we’ve identified the problem we can offer a solution. It’s literally that easy and everyone will spot something different that’s needed in their respective neighborhood or community, that’s a fast pace to a successful business. How else can we add value? Probing is another way, by joining forums, groups, etc. and asking relevant questions. Creating a successful business doesn’t have to be complicated but it has to be deliberate and understand that a good used and a good business is two different things as good ideas aren’t always practical, so take your time see what’s needed, be sure that the business that you choose not only benefits you but others as well because remember we aren’t in the business of prices and services exclusively but the business of people and solving problems. So take a good look around, ask yourself what do we need as a society, know which way society is headed and for those that has been under a rock for the last few years we are in the age of information and technology is leading the way so be sure the business of choice can’t be outpaced by the internet, i. e. blockbuster vs Netflix, ensure that it’s practical and just not a good idea and that it actually benefits others. Till next time, good business sells itself #peace