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Roughly defined, a business is a repeatable process that: 1. Creates and delivers something of value … 2. That other people want or need … 3. At a price they’re willing to pay … 4. In a way that satisfies the customer’s needs and expectations … 5. So that the business brings in enough Profit to make it worthwhile for the owners to continue operation.

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Roughly defined, a business is a repeatable process that: 1. Creates and delivers something of value… 2. That other people want or need… 3. At a price they’re willing to pay… 4. In a way that satisfies the customer’s needs and expectations… 5. So that the business brings in enough profit to make it worthwhile for the owners to continue operation.

Roughly defined, a business is a repeatable process that: 1. Creates and delivers something of value . . . 2. That other people want or need . . . 3. At a price they’re willing to pay . . . 4. In a way that satisfies the customer’s needs and expectations . . . 5. So that the business brings in enough profit to make it worthwhile for the owners to continue operation. It doesn’t matter if you’re running a solo venture or a billion-dollar brand. Take any one of these five factors away, and you don’t have a business — you have something else. A venture that doesn’t create value for others is a hobby.

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Business is just a never-ending cycle of starting and trying new things, asking whether people will pay for those things, and then trying it again based on what you’ve learned. If you’re afraid to start or ask, you can’t experiment. And if you can’t experiment, you can’t do business.

Business is the highest evolution of consciousness, responsibility, and morality. No other living organism is even remotely able to function on a business level. The essences of business are honesty, effort, responsibility, integration, abstraction, conceptualization, objectivity, long-range planning, discipline, thought, control. Business creates essentially every major human value, ranging from the development of consciousness, language, mathematics, the arts, up to the electronic and biogenic revolutions.

At the core, every business is a collection of processes that can be repeated to produce a particular result. By understanding how complex systems work, it’s possible to find ways to improve existing systems, whether you’re dealing with a marketing campaign or an automotive assembly line.

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.

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.

A successful business, roughly defined, provides (1) something of value that (2) other people want or need at (3) a price they’re willing to pay, in a way that (4) satisfies the customer’s needs and expectations so that (5) the business brings in sufficient profit to make it worthwhile for the owners to continue operation.

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.

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