I have written this statement so many times in articles on this blog, but it always seems relevant: I love to read books and have found that may be a huge reason for my growth as a business person. That and stumbling and bumbling through mistakes, but both can teach us a TON of lessons about being better in our business lives.
Recently, our company started studying a classic business book from the early 2000‘s to help us stay on track and define our goals for the next few years. We got all of our employees a copy of Good To Great by Jim Collins. We take business books and study them as a company, going chapter by chapter and letting everyone spend a few minutes discussing what applies to our company.
Two weeks ago we read chapter 7 and I could not help but think about the Turnkey real estate industry while I was reading it. The story of drugstore.com that starts on page 144 had me hooked and I thought it offered a great parallel to the Turnkey real estate world. Let me tell one other story quickly though, and then I will tie the two together.
Practical Value Vs. Intrinsic Value
I was lucky enough to spend a few days of down time recently with my older brother Kent and he said something to me that helped me relate what I was reading in Good to Great with the statements I wanted to make about Turnkey real estate. He made a statement about the difference between practical value and intrinsic value. Companies have used their knowledge of consumers for years to differentiate their products and take advantage of these two values to sell their goods. But, …read more