2min chapter

Deep Dive with Ali Abdaal  cover image

How To Turn Your Passion Into A Business Without Sacrifice - James Hoffmann

Deep Dive with Ali Abdaal

CHAPTER

How to Get Good at the Business of Business

Michael Gerber's book was a super early read for me. I really enjoyed it, which is fortunate. Lots of people are immediately turned off and go to the safe space of the thing that they know and care about. And that's not healthy for the business long term.

00:00
Speaker 2
Yeah, there's a lot of thoughts that sparked through that. Have you come across the emith? Oh, yeah. That was a
Speaker 1
super early read for me. So I, to go back to the starting of business, I was a classic, I was a coffee obsessive. I was like, well, I understand coffee, I'm good at making coffee, I should open a coffee business. And very quickly, it was like, oh, then there's the business of business. And how rapidly can I get good at the business of business to build sort of the machine underlying that? And I didn't have time to do anything other than read, and read I did. And so, yeah, Michael Gerber's book, I think, was super, super informative, very relevant to me and further encouragement to work on the business or in it, which becomes slightly glib when you say it. But it's so, so important. Yeah. I can't, you know what I mean? I can't emphasize
Speaker 3
enough
Speaker 1
that the need to get out from the daily of the manufacturing of a business, whatever it is that you make and sell and do into a higher level think or sort of thought process
Speaker 3
to understand the model, the mechanics of the, it's a machine, right? You're tweaking cogs and you're kind of making it work just nice.
Speaker 1
That's hard. And you need to get good at that. And that has nothing to do with coffee. Yeah. That has nothing to do with coffee. And everything to do with
Speaker 3
understanding everything from people
Speaker 1
through to sort of marketing, sales,
Speaker 3
economics, finances, reading a balance sheet, understanding the impact of decisions you make on your balance sheet, on your future, on your cash flows, all of that sort of stuff.
Speaker 1
I really enjoyed it, which is fortunate. Lots of people are immediately turned off and go to the safe space of the thing that they know and care about. And that's not healthy for the business long term.
Speaker 2
Yeah. I think that's an insight that so many
Speaker 4
people have only once they have started a business. Yeah.

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