The smartest people can’t solve all problems alone, but a group of smart people who can communicate openly with each other will be invincible in battle.
“I want to be like a telephone exchange, collecting information from countless telephone lines, sorting the information, and then transmitting it to the world.”
Investors are always looking for excellent investments, and the more you make it less difficult for them to make decisions, the more benefit everyone gets.
The most important asset in business is information. The more you know, the more perspective you have, the more links you can build and the greater the ability to make predictions.
Get acquainted with the best people.
People are always most interested in talking about “their problems”. If you can find out what the other person’s problem is and offer a solution, they will want to talk to you, regardless of their registration or status. The more difficult the problem and the fewer the solutions, the more valuable your advice will be. Providing solutions to the problems that everyone avoids is the area of least competition and greatest opportunity.
The difficulty of starting and running a small business is comparable to that of a large business. There is a process of starting a business, regardless of size, from scratch, and you will suffer the same financial burden and psychological stress.
Peterson and Schwartzman’s talent scoring criteria
People who score an 8 are task performers, and people who score a 9 are very good at executing and developing top-notch strategies. If a company is full of 9-point people, it can be successful. But 10-point people, without being instructed to do so, can take the initiative to identify problems, design solutions, and take the business in new directions.
If the problem is simple, then there will always be many people willing to help solve it. If the problem is tricky, everyone avoids it. People who can solve such problems are very rare. People with difficult problems will come to you and pay you a lot of money to solve them.
Build your reputation by doing what others don’t do and what others can’t do.
If all the effort and goodwill is wasted in pursuit of the lowest possible acquisition price, and the asset ends up with a higher bidder, all future value will be nothing more than an empty phrase. Sometimes it is best to pay the necessary fees and focus on what can be done after becoming an owner. The rewards of taking ownership and running a successful business are usually much higher than the benefits of winning a price war.
Sometimes the investment amounts to billions of dollars, and if this pressure is concentrated on just a few people, it can create an unbearable psychological burden, because a bad investment can drag down a company and destroy a person’s reputation.
When people are restricted from buying what they need for no apparent reason, the entire system in question inevitably adjusts. When it adjusts, commodity prices go up.
People need homes, but when the real estate market collapses, irrational regulators and palpitating banks create barriers to purchase, and their obstruction, which has no root cause, inevitably leads to an adjustment in the entire system of real estate transactions.
Constantly innovate in order to never be eliminated.
There are three basic tests for starting a business: your vision must be ambitious enough, the product or service of the business should be unique, and the timing must be right.