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People think that what a business does is make money. But money is just the intermediate stage — just a shorthand — for whatever people want. What most businesses really do is make wealth. They do something people want.4

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People think that what a business does is make money. But money is just the intermediate stage — just a shorthand — for whatever people want. What most businesses really do is make wealth. They do something people want.

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. 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.

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.

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.

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