Modern Wisdom #215 - Josh Kaufman - The Key Principles Of Running Any Business
10 snips
Aug 31, 2020 
Josh Kaufman, author of the best-selling "The Personal MBA" and an expert on skill acquisition, shares insightful wisdom on business success. He argues that traditional business education is overrated, advocating for self-directed learning instead. Kaufman outlines five essential components every business needs and emphasizes the power of understanding pricing and market dynamics. He also highlights how personal development directly impacts business performance, tackling challenges like imitating success and imposter syndrome along the entrepreneurial journey.
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Skip Business School?
- Consider skipping formal business school if your goal is entrepreneurship.
- Invest your time and money directly into your business instead.
MBA Focus
- Traditional MBAs often focus on corporate careers, not entrepreneurship.
- They lack a cohesive framework for understanding business fundamentals.
Five Parts of Every Business
- Every business has five essential parts: value creation, marketing, sales, value delivery, and finance.
- If any part is missing, the business is likely to fail.
