Quotes on New Business

**New business concepts are always, always the product of lucky foresight.** That's right - the essential insight doesn't come out of any dirigiste planning process; it comes form some cocktail of happenstance, desire, curiosity, ambition and need. But at the end of the day, there has to be a degree of foresight -- a sense of where new riches lie. So radical innovation is always one part fortuity and one part clearheaded vision. [first-line bold by author] [2002] p.23

It's important to build a personal brand because it's the only thing you're going to have. Your reputation online, and in the new business world is pretty much the game, so you've got to be a good person. You can't hide anything, and more importantly, you've got to be out there at some level.

A good idea for a new business tends not to occur in isolation, and often the window of opportunity is very small. So speed is of the essence.

One man should not be afraid of improving his posessions, lest they be taken away from him, or another deterred by high taxes from starting a new business. Rather, the Prince should be ready to reward men who want to do these things and those who endeavour in any way to increase the prosperity of their city or their state.

A business absolutely devoted to service will have only one worry about profits. They will be embarrassingly large.

If you are seizing on a new business opportunity, deliberately move your customers' expectations up a few notches and consistently over-deliver on your promises - you will leave your competitors struggling to catch up.

Money goes out first to pay expenses and then comes back as profits later - if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.

That’s why people who seek out group flow often join startups or work for themselves. Serial entrepreneurs keep starting new business as much for the flow experience, as for the additional success.

I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent.