Compounding money can make you rich. Compounding waste can make you poor. Think about all the paper clips you could pick up in a lifetime. They d add up to something. By eliminating waste wherever you find it, you save money that falls to the bottom line.
Good business depends on effective market segmentation and differentiation.
One describes the segment of the market you sell to and it doesn t have to be everyone to make you a success. Market differentiation, on the other hand, tells customers how you re different, and hopefully better. Entrepreneurs make a science of selling, so they know how to hit their customers hot buttons. Once I distributed a plaque with these words on it to the executives in my company. I wanted everyone to think ahead.