What is the #1 conceptual business challenge in the world? Yes, in the world.
Based on over 20 years of experience and study, it is safe to say, the most significant – #1 – challenge encountered by businesses as small as start-ups and as large as Fortune/Global-size multinationals, across industries, is their almost uniform inability to conceive of their business as being based on an asset they own or control. We call this asset the “key component” but it is also known as the “means of production”, “working on your business and not in your business” and so on.
It really makes no difference what business you are in, you must have an asset, make an asset, control an asset, that is the bedrock of the business. For hundreds, if not thousands, of years, man has created a whole body of works all based on property. There are thousands upon thousands of pages generated by each countries legal system detailing what is property, and the rights and obligations that go along with it. There are scholarly works on the subject. Whole disciplines have evolved to understand, analyze, interpret, and recommend actions based on property. Wars have been waged over property. Governing bodies in distant lands toppled and/or imposed over it. People have been imprisoned because of it.
Why would any entrepreneur or business person develop a business that did not avail itself of the protections afforded by this rich heritage? No serious one would. And yet, so many, many, many decisions are made every day without keeping this very basic conceptual framework in sight! Millions upon millions of dollars, euros, rupees, what have you, are wasted every day by decision-makers who forget this.
It is very simple: Would you build your family’s home on someone else’s land? No! The land owner would put you and your family out and seize the nice home you built. So why do that in business? You shouldn’t. Stop it!
The Return On Key Component methodology helps you develop and use this bedrock conception of business so you make the right the decisions about your business. The ROKC approach is based on the historical record and empirical facts that cut across industries and business size. Buy the book today. Download the presentation or cheat sheet. Contact us. We are here to help you be successful.