The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere.-The Lean Startup by Ries.
A comprehensive theory of entrepreneurship should address all the functions of an early-stage venture: vision and concept, product development, marketing and sales, scaling up, partnerships and distribution, and structure and organizational design. It has to provide a method for measuring progress in the context of extreme uncertainty.-The Lean Startup by Ries.
The goal of a startup is to figure out the right thing to build—the thing customers want and will pay for—as quickly as possible.-The Lean Startup by Ries.
The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.-Bill Gates.
The main benefit of your product should be explainable in one sentence or phrase.-4 Hour Workweek by Ferriss.
CREATING DEMAND IS hard. Filling demand is much easier. Don’t create a product, then seek someone to sell it to. Find a market—define your customers—then find or develop a product for them.-4 Hour Workweek by Ferriss.
A corporation is merely a file folder with some legal documents in it, sitting in some attorney’s office and registered with a state government agency.-Rich Dad by Kyosaki.
The income-tax rate of a corporation is less than the individual income-tax rates. In addition, certain expenses could be paid by a corporation with pre-tax dollars.-Rich Dad by Kyosaki.
A corporation can do many things that an employee cannot, like pay expenses before paying taxes.-Rich Dad by Kyosaki.
Employees earn and get taxed, and they try to live on what is left. A corporation earns, spends everything it can, and is taxed on anything that is left.-Rich Dad by Kyosaki.
Assessing your Business
Quantitative targets created the motivation to engage in qualitative inquiry.-The Lean Startup by Ries.
Ray Krok knew that the land and its location were the most significant factors in the success of each franchise.-Rich Dad by Kyosaki.
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