Found this one via this week's Carnival of the Capitalists. In response to a comment along the lines of "do what you love and the money will follow," David St. Lawrence of the blog Ripples writes:
"Let me share the most basic facts I know to be true about business:
- All legitimate business is based upon the principle of exchange
- Exchange is providing something valuable and getting appropriate value in return
- Value can be established through communication with the prospective customer
- You find out what the person wants and is willing to pay for it
- If you provide exchange in abundance, that is the most certain way to grow a business as you will have customers telling others about you.All of the other activities of a business are only there to support the creation of an exchange of goods or services with a continuing series of customers.
Exchange is the key. It is the fundamental activity of any business, especially a micro-business where you are self-employed. Many people have it backward. It's not about your product or service. What is important is: What do people need and want and how can I provide it?"
Joe, thanks for the nice mention. It has resulted in a nice flow of new visitors to my site.
I don't know how I have overlooked this weblog and its excellent, and rational, posts. I find myself very much aligned with everything I've seen.
Now that you have gotten my attention, you will be on my must-read list. There is so much to read that I will have to return often.