Simple Definition Of Business - What Business ISN'T! @TenTonOnline

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Transcription:

simple definition of business

Heyo! Business is NOT about getting a lot of "likes" or "shares" or "followers" or views or subscribers or whatever. There is ZERO connection between the number of likes / retweets / followers you have and your monthly revenue.

How's it going my friend this is Geoff from Ten Ton Online.

Business is also NOT about meticulously well-crafted products that have been desinged to absolute perfection...that nobody actually wants to buy. Hey, basements, garages, hard drives, and storage units all over the world are filled with perfectly designed market-ready products...that nobody wants.

I remember when I was a kid, my uncle tried starting a small business selling -- of all things -- wooden boards that would hang on your kitchen wall that would hold a "to do" pad. They didn't sell well at all...and everyone in the family wound up with at least a few boxes of wooden boards and "to do" notepads. I think most of the wooden boards were burned or thrown out...but these damn "to do" notepads...he must have had thousands printed up because 30+ years later...we're still going through them!

Had he determined ahead of time if there was a "kitchen note board problem," he could have saved himself thousands of dollars and tons of effort creating product inventory by the metric ton...that nobody wanted.

Remember, the purpose of every business is to solve problems for profit. If an entity doesn't do that, or can't do that, then it isn't a business. Instead, it's just a hobby or something to "play in."

Finally, and this one might russell some feathers is, if you have an exit strategy, it's not a business and you're not an entrepreneur. Instead, you're a gambler who's putting your needs and your drive for riches ahead of your market needs. That's not business to me. Many people who mascarade as entrepreneurs don't truly have skin in the game. Instead, their objective is to pass the hot potato to someone else. In the world of investing, this is called "looking for a greater fool."

To these sorts, who are playing "entrepreneur," the true value of the company, what it provides to the market, and the business's long term survival are of little interest. This is a pure financing scheme, not business. They'd probably do just as well flipping yard sale junk on ebay.

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