The business system

[Patrick_9931]

Hey guys, after some contemplation I created this basic blueprint to help me navigate the world of business.

I was just wondering how complete you think it is and if you have some other elements that you may add:

Here's the blueprint:

The business system

As long as you are a Human you can not avoid being in business ( so you better master it).

Business is the mean trough which you can impact the world and have money in return.

It’s helpful to view your business as an abstract entity separate from you es: Nike, Rolex, Actualized etc.

Money is what comes when you sell one or multiple products or services that solve a specific problem that a person or group of people have.

The amount of money you have is directly related to your mastery of these 4 basic elements of the business system:

Product / Service

The art of creating a product or service that solves a specific problem that a specific group of people have.

Marketing

The Art of putting your product or service in front of the people who would benefit from it.

Brand

The image your customers have of your business

Sales

The art of converting prospects in to clients

The business psychology

The success of your business is dependent upon your psychology.

You have to start with the end in mind and be strategic: If you fail to plan, you are planned to fail. Every battle is won before it’s fought.

The first reason for a business to fail is quitting when things get hard.

Long-term thinking is crucial

Edited November 16, 2022 by Patrick_9931
correction

[Yarco]

3 hours ago, Patrick_9931 said:

As long as you are a Human you can not avoid being in business ( so you better master it).

I would change this to "As long as you are part of society". If you're living totally self-sufficiently or in a small tribe, business isn't necessary. (Although 99% of people exist in society so this is nitpicky anyway.)

3 hours ago, Patrick_9931 said:

It’s helpful to view your business as an abstract entity separate from you es: Nike, Rolex, Actualized etc.

For specific types of businesses, it's better to use your name and create a personal brand instead. You see lots of big Youtubers with their first+last name as their channel name now. When people want to buy an online course, they usually look for an established and trusted name behind it. You see a lot of people transition from using online nicknames / "gamer tags" to their actual names once they start to get big.

[Verg0]

Take action. 

Fail forward.