B=Ih^2
My friend is a professional sound engineer and has his own micro-enterprise devoted to providing excellent sound and acoustics for public events ranging from lectures to performances. He recently worked a business networking event at the Walker Art Center. When we were discussing what he learned by listening in on the guest speaker’s talk we basically decided that we didn’t learn anything new, but we discovered the innate nature of business.
My friend said that the speaker for the event just rang the bell of business mantras that he has heard over and over again like “harness technology”, “cut costs”, and “diversify into new markets.” He was slightly underwhelmed by the event. I told him that business isn’t really that interesting to begin with. It’s not art, or philosophy, or political-economy. It’s really just a hustle. He responded “yeah, it’s all about getting more out of something than you put in to it.”.
Then I had this great insight.
Business = Input times Hustle squared or B=Ih^2
Being in business – whether at the small business level or the corporate level, but especially the small business level – is all about moving quickly and grinding it out. The quicker that one can develop a product, get it to market, and sell it – the better one usually performs. It’s not an abstract science or theoretical dissertation. It’s just a race. Doing things quickly, whether it’s sales, product development, or taking advantage of new market trends or financing is what makes the difference between successful and unsuccessful enterprises.
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