A Quote by Erik Prince
My dad built his business by providing products he figured the customers would want.
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Business is not just doing deals; business is having great products, doing great engineering, and providing tremendous service to customers. Finally, business is a cobweb of human relationships.
I always consult my father before I take on a project. Not just me - even my brother goes to Dad and speaks to him of his business ideas. Dad has an amazing business acumen, and it would be foolish not to take his advice. Plus, he's our dad at the end of the day, and he would want to see us succeed. He always gives us the best advice.
At the end of the day, customer choice is essential. And we don't make products that compete with Apple, nor make products that compete with Google. Our customers come in both iOS and Android flavors, and I hope our customers can still buy the products they want to purchase wherever they want to purchase them.
We're different men [with Donald Trump], different life experiences. But I've always been struck by our common heritage. His grandfather immigrated to this country just like my grandfather. His dad was a self-made businessman, who built up a business with his two hands. And my dad followed his dreams to Columbus, Indiana, helped build a small business in that town.
The common fisheries policy unfortunately led to the devastation of fishing in Scotland. My dad had to close his business. As a result something that he been built up by by grandfather and maintained by my dad disappeared. So my dad suffered.
We want a direct relationship with our customers. To build a business and sell products to them.
Entrepreneurship is all about an idea that creates differentiated business value to one's customers. You must be able to convince your customers about the benefits that association with you or your products will give them. People are ready to pay if they are convinced about your services or products.
Every business needs to get out of their own mindset and into the aspirational mindsets of their customers and clients and create services and products that are beyond their customers' imagination but will be what they 'gotta have' in the future.
It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them. As Henry Ford said many years earlier: "If I had listened to my customers, I would have built a faster horse." Inventions in general express Shannon entropy. They come from the supply side.
We came from a family where we ran our own small business. Our dad made his own products. We made our own sausages, our own meatloafs, our own pickles. Dad had to do everything himself. He had to figure out how to finance his business.
Simply because Amazon decides to pursue a market segment doesn't mean the customers are going to spend their money there, and so it means that we have to do an amazing job in providing a great customer experience that customers want.
If you want to stay in business, satisfy customers. If you want to excel in business, delight customers.
Oracle is obsessed with security. It's an absolute requirement for all our products. The real security issue is when customers take older products that were not built for the Internet, and kind of rack them and put them on the Internet.
Doing business is all about providing a good product or service to your customers. A good businessman is he who knows that what is successful today may not be so tomorrow. Technology changes so fast, and so do people's needs and wants. That's why it would do well for a businessman to know how to adapt to change. He must constantly reinvent the business, or it won't last.
The business aspect and the social aspect of FEED go hand in hand. The more we can strengthen our business, the more we are able to give. And the more we can focus on giving back, the more customers will want to buy our products, thus strengthening our business.
The most important job of the entrepreneur begins before there is a business or employees. The job of an entrepreneur is to design a business that can grow, employ many people, add value to its customers, be a responsible corporate citizen, bring prosperity to all those that work on the business, be charitable, and eventually no longer need the entrepreneur. Before there is a business, a successful entrepreneur is designing this type of business in his or her mind's eye. According my rich dad, this is the job of a true entrepreneur.
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