Keys to Entrepreneurial Success: Quick Decisions, Solutions & Satisfaction

Importance of Focus and Thinking:

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  The number one reason for success in business is focusing on things that have high potential consequences, while the number one reason for failure is focusing on things that have low or no potential consequences.
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  Focus is the most important requirement for success in our fast-moving world, according to successful entrepreneurs.
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  The most valuable and highest paid work that you do is thinking.
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  The quality of your thinking determines the quality of your life, so spending more time thinking well and clearly leads to greater success over time.
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  "Thinking, Fast and Slow" by Daniel Kahneman explores the concept of two types of thinking: fast thinking, which is intuitive and automatic, and slow thinking, which requires taking time to think through issues.

Marketing and Customer Satisfaction:

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  Many people waste time and money on marketing mediocre products, but the key to success is to deliver superb quality at good prices, like the restaurants that are always full because they put it on the plate.
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  Companies like Apple have mastered the art of creating products that people are willing to sleep on sidewalks for and become their preeminent salespeople.
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  Tony Hsieh's success with Zappos, selling for $1.2 billion, highlights the value of prioritizing customer happiness above all else in business.

Hiring and Business Models:

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  Jumping the learning curve can save years of hard work and hundreds of hours to build a successful business.
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  Following a proven hiring process, like the one used by successful companies, can significantly increase hiring accuracy to 90% or higher.

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  "Cut your losses quickly when you realize you made a mistake in business, personal lives, or investments."
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  Every business skill is learnable, regardless of your background or current abilities.

- Your business model is probably obsolete if you're in a technology-based industry, and finding a new model can lead to significant growth and profitability

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  Your business model is probably obsolete if you're in a technology-based industry, and finding a new model can lead to significant growth and profitability.

- Having a comprehensive plan that includes great leadership, product/service, marketing, sales, numbers, business, and customer service is crucial for business success

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  Having a comprehensive plan that includes great leadership, product/service, marketing, sales, numbers, business, and customer service is crucial for business success.