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10 minute MBA

The magic profit spell you won’t learn in Business School

A touchy subject this, but unfortunately there are many key things about being successful in business that you won't learn in Business School. One of the worst omissions in my view is that of the power of small changes and how these compound to make big improvements to business over remarkably short timescales. One such idea is the one I call my magic profit spell, which shows you how to take specific components of any business and make them unrecognisably better by changing things almost imperceptibly.

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The 5 Laws for a Profitable Business

Educational establishments would have us believe that building a profitable business is complex, but it’s actually very simple as long as you obey these 5 laws:

  1. Know your cash situation; what’s coming in and what’s going out. Hint:regardless of how bad things get you must adjust to ensure that more comes in!
  2. Know your market niche; exactly who you are marketing to and what it is exactly you are marketing to them.
  3. Over deliver on your marketing promises; this means having a well developed operations strategy.
  4. Accept once and for all that people can’t be managed; only led and/or inspired.
  5. Be there.

The 10 minute MBA expands on all of these laws to allow you to develop savant like business awareness.

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