To clarify, here are some things
that I wish I was taught while I was in school, instead of having to discover
them for myself much later in life:
- Recruiting is normal. Every business does it. Many think it is weird to recruit, but to business owners, not recruiting would be even more weird. Most people are used to getting recruited and not being the recruiter. But, what I've found is that the talented people aren't the ones who are making all of the money - the people who are recruiting the talented people are the ones making all of the money.
- In business, it is not just about having a great product or great advertising. That is nice and all, but it's more about distribution. Does McDonald's sell the best cheeseburgers in the world? I think most people would give a resounding "No!" Instead, at McDonald's, they didn't focus on the product, but on massive distribution. One time they put a Garth Brooks album at the counter of every McDonald's and it became the #1 album. So, they don't just sell burgers and fries. They demonstrated that once you have your distribution pipeline established, it is possible to pretty much sell anything through it.
- In sports, you have to play fair, but in business you do not have to play fair. In basketball, to be fair you need to have 5 on 5, but in business, you could have 5 on 50. If one business has 50 agents and the other business only has only 5, the one with 50 is going to beat the one with 5 in sports, in a fight and also in business, because more people always wins.
The problem is, when we go to
school, we have employees teaching us how to become a business owner. And when
we go to a job, we have a business owner teaching us how to become an employee.
That is why only 5% of the population are business owners making 95% of the
wealth while the other 95% are employees making only 5% of the wealth.
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