The Star Principle: How it can make you rich

TRIGGER 32. IDEAS FROM OTHER PLACES

TRIGGER 31. IDEAS FROM OTHER INDUSTRIES

the nub here is that you should generally ‘outsource’ as much of your operations as possible, retaining only the few things that you do uniquely well. In particular, get other people to make things for you. Since you probably won’t be investing in factories, offices or other physical cash sinks, what’s left is expense investment - the costs of your

TRIGGER 28. ONLINE VERSUS OFFLINE, OR A DIFFERENT DISTRIBUTION CHANNEL

Profits also rise because of the market growth, but profits should rise faster than sales. In a normal market, profitability is constrained by competition. In a star market, profitability is constrained only by what customers will pay.

Step 7: Name the brand in a way that complements the category name. Make the name short, memorable, easy to recognise, appealing to the target market and associated with the niche.

What is a star venture? It has two qualities. One, it operates in a high-growth market. Two, it is the leader in that market.

TRIGGER 26. NARROWED EXPERTISE VERSUS ADDED EXPERTISE

The delivery formula has been cracked when all the following events always happen. ★ Products are delivered to the same high standard, on time, every time. ★ This year’s product is measurably better than last year’s. ★ This year’s product costs at least 5 per cent less to make than last year’s. ★ Volumes can be doubled within a year without panic o