Quote

If you look at firms like General Electric or other large companies, they don't just do one thing; they do many different things to generate sources of revenue.

Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.

Growth and profit are a product of how people work together.

If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.

The mistake that makes launching a venture expensive is when you try to make a disruptive technology so good that it can compete on a quality basis with an established product.

There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.

People invest in businesses that they believe have the leadership, mission and team to grow and operate profitably.

Profit is the sole criterion used by the establishment to evaluate economic activity. From the rat race to lame ducks. The vocabulary in vogue is a give-away. It's more reminiscent of a human menagerie than human society.

That doesn't mean you have to have the lowest costs in the industry to succeed. But you need to make sure the activities and product attributes that increase your costs above the other guy bring in at least that much more in revenue, and hopefully more.

Companies are bought for their revenue, customer base, technology, or people. A few great companies offer all of these, but any valuable business offers one.