Businesses Quotes

“In fact, as these companies offered more and more (simply because they could), they found that demand actually followed supply. The act of vastly increasing choice seemed to unlock demand for that choice. Whether it was latent demand for niche goods that was already there or a creation of new demand, we don't yet know. But what we do know is that the companies for which we have the most complete data - netflix, Amazon, Rhapsody - sales of products not offered by their bricks-and-mortar competitors amounted to between a quarter and nearly half of total revenues - and that percentage is rising each year. in other words, the fastest-growing part of their businesses is sales of products that aren't available in traditional, physical retail stores at all. These infinite-shelf-space businesses have effectively learned a lesson in new math: A very, very big number (the products in the Tail) multiplied by a relatives small number (the sales of each) is still equal to a very, very big number. And, again, that very, very big number is only getting bigger. What's more, these millions of fringe sales are an efficient, cost-effective business. With no shelf space to pay for - and in the case of purely digital services like iTunes, no manufacturing costs and hardly any distribution fees - a niche product sold is just another sale, with the same (or better) margins as a hit. For the first time in history, hits and niches are on equal economic footing, both just entries in a database called up on demand, both equally worthy of being carried. Suddenly, popularity no longer has a monopoly on profitability.”

“In fact, as these companies offered more and more (simply because they could), they found that demand actually followed supply. The act of vastly increasing choice seemed to unlock demand for that choice. Whether it was latent demand for niche goods that was already there or a creation of new demand, we don't yet know. But what we do know is that the companies for which we have the most complete data - netflix, Amazon, Rhapsody - sales of products not offered by their bricks-and-mortar competitors amounted to between a quarter and nearly half of total revenues - and that percentage is rising each year. in other words, the fastest-growing part of their businesses is sales of products that aren't available in traditional, physical retail stores at all. These infinite-shelf-space businesses have effectively learned a lesson in new math: A very, very big number (the products in the Tail) multiplied by a relatives small number (the sales of each) is still equal to a very, very big number. And, again, that very, very big number is only getting bigger. What's more, these millions of fringe sales are an efficient, cost-effective business. With no shelf space to pay for - and in the case of purely digital services like iTunes, no manufacturing costs and hardly any distribution fees - a niche product sold is just another sale, with the same (or better) margins as a hit. For the first time in history, hits and niches are on equal economic footing, both just entries in a database called up on demand, both equally worthy of being carried. Suddenly, popularity no longer has a monopoly on profitability.”

“Many small businesses are doomed from day one, not from competition or the economy, but from the ignorance of their owners . . . their destiny is already decided because they have no idea how a business should be operated.”

“All businesses begin and end with their company culture.”

“RULE #1Market your business to the customer YOU WANT.Most beauty businesses try to be everything to everyone. It's exhausting and expensive promoting yourself to everyone. Most people simply give up.Focus on the customers you really want. What is your passion, what do you excel in? Who is your ideal customer? What would you ideally like to do every day in your business?Focus on what you want to do and the clients you want, and market directly to them and only them.”

“Those who do not study their businesses do not stay in business.”

“Businesses can lead with their values and make money, too. You don't have to simply be purely profit-driven. You can integrate social and environmental concerns into a business, be a caring business, be a generous business and still do very well financially.”

“The world of business is becoming one of the great cathedrals of spirit. Businesses are becoming places in which meaning can be created, in which mutuality begins to happen. Business is the force in the world that is fulfilling every major value of the great spiritual traditions: intimacy, trust, a shared vision, cooperation, collaboration, friendship, and ultimately love. After all, what is love at its core? It is the movement of evolution to higher and higher levels of mutuality, recognition, union and embrace.”

“Wealth comes from multiple incomes. Always think of growth and new businesses to create new income streams.”

“Today’s businesses can’t just use social media; they have to become social businesses, inside and out and from top to bottom. Ultimately, that is the goal of this book: to harness the power of being a social business to become the most highly recommended organization in your industry/category/niche.”

“Businesses are like people—some of them will click with your personality and others won’t. It’s all about chemistry.”