Business Quote by Josh Kaufman
“Every successful business (1) creates or provides something of value that (2) other people want or need (3) at a price they're willing to pay, in a way that (4) satisfies the purchaser's needs and expectations and (5) provides the business sufficient revenue to make it worthwhile for the owners to continue operation.”
About This Quote
Source Book: The Personal MBA, 2010
A successful business delivers valued products/services that customers want, at a fair price, satisfying needs and generating profit for sustainability.
In simple terms: Business must create value that customers need and pay for.
Key Takeaway
Focus on delivering real value.
Themes
value creation
customer focus
pricing
profitability
Mood
analytical
practical
Type
business
educational
When to use this quote
- product launches
- pricing decisions
- customer feedback loops
Key Concepts
business strategy
marketing
economics
Questions to Reflect On
- What value does your product provide?
- How do you ensure pricing matches demand?
A Different Perspective
Ignoring customer needs leads to failure.
![“[S]ometimes, when you are a food person, the possible irrelevance of what you are doing doesn’t cross your mind until it’s too late. (Once, for example, when I was just starting out in the food business, I was hired by the caper people to develop a lot of recipes using capers, and it was weeks of…” quote by Nora Ephron](https://sms4smile.com/quotes/img-quotes/d79/nora-ephron-1217_business_s-ometimes-when-you-are-a-food-person-th_980.jpg)
![“If the State does not acquire supremacy over [vast private] enterprises, it becomes their puppet, and they become the real State.” quote by Bertrand Russell](https://sms4smile.com/quotes/img-quotes/bad/bertrand-russell-69_acquire_if-the-state-does-not-acquire-supremacy_1379.jpg)