And it really exemplifies what makes the Personal MBA so great. Explaining in simple terms the core ideas in business. While business can be hard it can be learned. For example, there are only four ways to increase revenue:
- Increase the number of customers
- Increase the average transaction size
- Increase the frequency of transactions
- Raise your prices
And it is that simple. This is why I LOVE the Personal MBA. In one page he explains one entire framework for improving your business. You can wander around all day long - but if you need more revenue and your strategy isn’t focused on developing one of these four paths you are destined to fail.
The ability to know and develop business strategy is a fundamental skill that everyone should know. Check out the article and the book!