The Personal MBA by Josh Kaufman: Summary and Notes
A book that will help you master the art of business without the need to take an expensive MBA.
“Every successful business (1) creates or provides something of value that (2) other people want or need (3) at a price they’re willing to pay, in a way that (4) satisfies the purchaser’s needs and expectations and (5) provides the business sufficient revenue to make it worthwhile for the owners to continue operation.”
The Personal MBA by Josh Kaufman: Short Summary
The Personal MBA will help you master the art of business. Josh Kaufman compiles business knowledge that is seemingly difficult to understand or only available if you’re a student in business school and simplifies it for you.
The most important function of a business is value addition.
A business is designed to repeatedly create and deliver valuable products/services that people want or need, at a price they’re willing to pay and in a way that meets the customers’ needs to continually generate profit.
A business is made up of five interdependent processes:
- Value creation
- Value delivery
The revenue you need to sustain your business is dependent on people wanting what you want to offer.
A successful business is designed around an understanding of the five core human drives:
Being your competitor’s customer gives you a better perspective on what your competition is doing right, and what you can improve on to stand out.