--- title: "Meaning & Key Takeaway of: The essence of a successful business is…" description: "\"The essence of a successful business is really quite simple. It is your ability to offer a product or service that people will pay for at a price suffi..." image: "https://sms4smile.com/quotes/i/bef/brian-tracy-216_ability_the-essence-of-a-successful-business-is_1087837.jpg" --- # The essence of a successful business is really quite… ![“The essence of a successful business is really quite simple. It is your ability to offer a product or service that people will pay for at a price sufficiently above your costs, ideally three or four or five times your cost, thereby giving you a profit that enables you to buy and to offer more…” quote by Brian Tracy](https://sms4smile.com/quotes/i/bef/brian-tracy-216_ability_the-essence-of-a-successful-business-is_1087837.jpg) [Download](https://sms4smile.com/quotes/i/bef/brian-tracy-216_ability_the-essence-of-a-successful-business-is_1087837.jpg) [Open image](https://sms4smile.com/quotes/i/bef/brian-tracy-216_ability_the-essence-of-a-successful-business-is_1087837.jpg) > “The essence of a successful business is really quite simple. It is your ability to offer a product or service that people will pay for at a price sufficiently above your costs, ideally three or four or five times your cost, thereby giving you a profit that enables you to buy and to offer more products and services.” [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Success hinges on selling a product priced well above its cost, generating profit to expand offerings. **In simple terms:** Profit comes from pricing above cost. Key Takeaway Price above cost to profit. Themes business profit pricing strategy Mood determined pragmatic Type business motivational When to use this quote - launching a product - setting prices - expanding a line - investing profits Key Concepts economics value creation scaling Questions to Reflect On - How can you add value to justify higher prices? - What costs must be controlled to maintain margins? A Different Perspective Market competition may limit pricing flexibility. ★ ★ ★ ★ ★ No ratings yet [Ability](https://sms4smile.com/quotes/about/ability/) [Business](https://sms4smile.com/quotes/about/business/) [Essence](https://sms4smile.com/quotes/about/essence/) [Giving](https://sms4smile.com/quotes/about/giving/) [People](https://sms4smile.com/quotes/about/people/) [Profit](https://sms4smile.com/quotes/about/profit/) [Success](https://sms4smile.com/quotes/about/success/) [Successful](https://sms4smile.com/quotes/about/successful/) [Successful business](https://sms4smile.com/quotes/about/successful-business/) ## Related quotes > [Shouldn't you put the same amount of effort into your giving as you might for your for-profit investments? 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Buckminster Fuller](https://sms4smile.com/quotes/author/r-buckminster-fuller/) > [Everyone knows that where there is something that is capable of giving profit, then exploited it will be.](https://sms4smile.com/quotes/doris-lessing/everyone-knows-that-where-there-is-something-that-is-capable-of/) [Doris Lessing](https://sms4smile.com/quotes/author/doris-lessing/) > [Most successful businesses in the country were started on a kitchen table. 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Blige](https://sms4smile.com/quotes/author/mary-j-blige/) > [I think the sweet thing about my job, more than the music I sing, is that I come into some town and a really…](https://sms4smile.com/quotes/greg-brown/i-think-the-sweet-thing-about-my-job-more-than-the-music-i-sing-is/) [Greg Brown](https://sms4smile.com/quotes/author/greg-brown/) > [I've stepped more into my business and really... taken control for how I want that to be.](https://sms4smile.com/quotes/alicia-keys/i-ve-stepped-more-into-my-business-and-really-taken-control-for-how-i/) [Alicia Keys](https://sms4smile.com/quotes/author/alicia-keys/) > [Acting is a tough business, but if you really want to do it, you should go full force.](https://sms4smile.com/quotes/madeline-carroll/acting-is-a-tough-business-but-if-you-really-want-to-do-it-you-should/) [Madeline Carroll](https://sms4smile.com/quotes/author/madeline-carroll/) > [The number one thing I would say to someone who wants to start a business is if you really can't sleep at night and…](https://sms4smile.com/quotes/leandra-medine/the-number-one-thing-i-would-say-to-someone-who-wants-to-start-a/) [Leandra Medine](https://sms4smile.com/quotes/author/leandra-medine/) > [To be at ease is better than to be at business. Nothing really belongs to us but time, which even he has who has…](https://sms4smile.com/quotes/baltasar-gracian/to-be-at-ease-is-better-than-to-be-at-business-nothing-really-belongs/) [Baltasar Gracian](https://sms4smile.com/quotes/author/baltasar-gracian/) ## More by Brian Tracy > [I always say there are two things to be successful. The first is decide exactly what you want - set your goals - and…](https://sms4smile.com/quotes/brian-tracy/i-always-say-there-are-two-things-to-be-successful-the-first-is/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [According to the best research, less than 3% of Americans have written goals, and less than 1% review and rewrite their goals on a daily basis.](https://sms4smile.com/quotes/brian-tracy/according-to-the-best-research-less-than-3-of-americans-have-written/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [“Rumi says: ‘die before you die’. It means live each moment fully. Then, when the moment dies, there is no pain or regret because…](https://sms4smile.com/quotes/brian-tracy/rumi-says-die-before-you-die-it-means-live-each-moment-fully-then/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [One of the most important rules for success is this: Every great success is the result of hundreds and thousands of small efforts and…](https://sms4smile.com/quotes/brian-tracy/one-of-the-most-important-rules-for-success-is-this-every-great/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [Almost any decision is better than no decision at all.](https://sms4smile.com/quotes/brian-tracy/almost-any-decision-is-better-than-no-decision-at-all/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [Spend unbroken chunks of time with the most important people in your life.](https://sms4smile.com/quotes/brian-tracy/spend-unbroken-chunks-of-time-with-the-most-important-people-in-your/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [The effective leader recognizes that she is more dependent on her people than they are on her. 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It means refusing to say or do something that you…](https://sms4smile.com/quotes/brian-tracy/being-true-to-yourself-means-living-in-truth-with-each-person-in-your/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [The happiest people in the world are those who feel absolutely terrific about themselves, and this is the natural outgrowth of accepting total responsibility…](https://sms4smile.com/quotes/brian-tracy/the-happiest-people-in-the-world-are-those-who-feel-absolutely/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [The value of a promise is the cost to you of keeping your word.](https://sms4smile.com/quotes/brian-tracy/the-value-of-a-promise-is-the-cost-to-you-of-keeping-your-word/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) [Explore all 882 Brian Tracy quotes ](https://sms4smile.com/quotes/author/brian-tracy/) ## More Ability quotes > [I don't think there's a direct correlation between my sexuality and my skiing ability. But I think because I was so concerned about it…](https://sms4smile.com/quotes/gus-kenworthy/i-don-t-think-there-s-a-direct-correlation-between-my-sexuality-and/) [Gus Kenworthy](https://sms4smile.com/quotes/author/gus-kenworthy/) > [“the importance of ability. The things that make a great job great, I discovered, are rare and valuable. 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Holland](https://sms4smile.com/quotes/author/jeffrey-r-holland/) > [Maybe law enforcement would like the ability to turn on the camera on your Mac.](https://sms4smile.com/quotes/tim-cook/maybe-law-enforcement-would-like-the-ability-to-turn-on-the-camera-on/) [Tim Cook](https://sms4smile.com/quotes/author/tim-cook/) > [I've seen guys come along with more ability - they've been faster or bigger or stronger - but they never worked hard to develop…](https://sms4smile.com/quotes/steve-largent/i-ve-seen-guys-come-along-with-more-ability-they-ve-been-faster-or/) [Steve Largent](https://sms4smile.com/quotes/author/steve-largent/) > [The youth of India has the strength to move the entire World with a click of a mouse, we have generated that ability!](https://sms4smile.com/quotes/narendra-modi/the-youth-of-india-has-the-strength-to-move-the-entire-world-with-a/) [Narendra Modi](https://sms4smile.com/quotes/author/narendra-modi/) > [Time hath not yet so dried this blood of mine, Nor age so eat up my invention, Nor fortune made such havoc of my…](https://sms4smile.com/quotes/william-shakespeare/time-hath-not-yet-so-dried-this-blood-of-mine-nor-age-so-eat-up-my/) [William Shakespeare](https://sms4smile.com/quotes/author/william-shakespeare/) > [An absolutely necessary part of a writer's equipment, almost as necessary as talent, is the ability to stand up under punishment, both the punishment…](https://sms4smile.com/quotes/irwin-shaw/an-absolutely-necessary-part-of-a-writer-s-equipment-almost-as/) [Irwin Shaw](https://sms4smile.com/quotes/author/irwin-shaw/) > [I'd be more frightened by not using whatever abilities I'd been given. I'd be more frightened by procrastination and laziness.](https://sms4smile.com/quotes/denzel-washington/i-d-be-more-frightened-by-not-using-whatever-abilities-i-d-been-given/) [Denzel Washington](https://sms4smile.com/quotes/author/denzel-washington/) > [Bring into captivity every thought to the obedience of Christ. Take what I cannot give: my heart, body, thoughts, time, abilities, money, health, strength,…](https://sms4smile.com/quotes/elizabeth-prentiss/bring-into-captivity-every-thought-to-the-obedience-of-christ-take/) [Elizabeth Prentiss](https://sms4smile.com/quotes/author/elizabeth-prentiss/) > [You can only do the work to the very best of your ability.](https://sms4smile.com/quotes/christine-baranski/you-can-only-do-the-work-to-the-very-best-of-your-ability/) [Christine Baranski](https://sms4smile.com/quotes/author/christine-baranski/) > [Judge a person not by his ability to make money but by his ability to retain it.](https://sms4smile.com/quotes/vikrant-parsai/judge-a-person-not-by-his-ability-to-make-money-but-by-his-ability-to/) [Vikrant Parsai](https://sms4smile.com/quotes/author/vikrant-parsai/) > [Balance is the ability to be happy in the midst of the most chaotic or even boring or transient circumstance.](https://sms4smile.com/quotes/frederick-lenz/balance-is-the-ability-to-be-happy-in-the-midst-of-the-most-chaotic/) [Frederick Lenz](https://sms4smile.com/quotes/author/frederick-lenz/) > [Bobby had faith in my ability as a singer.](https://sms4smile.com/quotes/julie-london/bobby-had-faith-in-my-ability-as-a-singer/) [Julie London](https://sms4smile.com/quotes/author/julie-london/) [Browse all 9,990 Ability quotes ](https://sms4smile.com/quotes/about/ability/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The essence of a successful business is really quite simple. 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