
The Personal MBA: A World-Class Business Education in a Single Volume

The first sale is sometimes called a “loss leader”—an enticing offer intended to establish a relationship with a new customer. Many Subscription businesses use loss leaders to build their subscriber base.
Josh Kaufman • The Personal MBA: A World-Class Business Education in a Single Volume
Using Leverage is playing with fire—it can be a useful tool if used properly, but it can also burn you severely. Never use Leverage unless you’re fully aware of the consequences and are prepared to accept them.
Josh Kaufman • The Personal MBA: A World-Class Business Education in a Single Volume
After applying the Five-Fold Why, you’ll probably discover that what you actually want is quite different from what you thought you wanted. Now that you’ve identified the root cause of your original Goals, it’s time to figure out how to get what you actually want. The Five-Fold How is a way to connect your core desires to physical actions. Let’s us
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All of us have had the experience of knowing or feeling that we should do something or that an action would be in our best interest … but we don’t do it. The term for that experience is Akrasia (pronounced “ah-KRAH-see-ah”). Akrasia and procrastination are related, but they’re not the same thing. Procrastination occurs when you’ve decided to comple
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No matter how much people liked the commercial, at a certain point it would “wear out,” and the company would no longer produce $1 of revenue for every dollar the company spent showing that ad. That was the “Point of Diminishing Returns”—if we spent more dollars showing the same commercial, the company would start losing money. Far better to spend
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Humans like novel things. You're never ready. You need to keep producing and adapting constantly.
Dollar Throughput is a measure of how quickly your overall business system creates a dollar of profit. Assume a standard time unit, like an hour/ day/week/month—how many dollars does your business system produce on average during that time? The faster your business produces dollars of profit, the better.
Josh Kaufman • The Personal MBA: A World-Class Business Education in a Single Volume
Providing value in Product form is valuable because Products can be Duplicated. This book was only written once, but individual copies can be printed and delivered millions of times to readers all around the world. As a result, products tend to Scale better than other forms of value, since they can be Duplicated and/or Multiplied (all discussed lat
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“Chasing” and “being chased” are evolutionary patterns that our primal minds recognize very quickly. For centuries, human beings have chased things that are desirable, and they have been chased by threats. Even if we wouldn’t consciously label a situation as “chasing” or “being chased,” our minds notice and respond automatically. Chasing a prospect
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Most Habits take on one of four common forms: things you want to start doing, things you want to stop doing, things you want to do more, and things you want to do less. For example, you might want to start exercising regularly, stop watching television, drink more water, or spend less money. Habits typically require a certain amount of Willpower to
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